Bitcoin (BTC)
Bitcoin is currently trading at $62,490 and experienced a decline of 1.69 percent on the day and 9.48 percent on the week; even with the Strategy stepping in, it didn’t make a huge impact on the BTC price. In the past 30 days, the asset has declined by 22.75 percent. The one-year highlight is that the largest cryptocurrency has returned a loss of 42.08 percent.
Price is trading $800 below its 7-day moving average and $11,000 below its 30- day moving average. These gaps that formed will not be covered by the hope of market participants. The MACD histogram is experiencing divergence negatively to 1.067, which suggests momentum and signal are expanding and getting further apart, not becoming flat or converging to the signal. RSI-14 at 26.05 places this “digital gold” in a deeply oversold region but oversold followed by the downtrend simply suggests a possibility of a short-term rebound and not a confirmation for the reversal.
Recovery is clear and clean when we take a look at Fibonacci on the 30 bar swing. Bitcoin must reclaim $70,770 in order to ensure that the move up can be said to be a true momentum shift. This is a level that stands at 50 percent Fibonacci retracement and the price needs a 13 percent move to reach that mark.
Ethereum (ETH)
Ethereum is down to $1,672 and has dropped by 1.05 percent in the past 24 hours, down. On a weekly basis, the asset has fallen by 15.22 percent and is down 28 percent over the past month. The 1-year drawdown comes to 34.29 percent.
30 day downturn of 28 percent is more drastic than Bitcoin’s, relatively. The 200-day moving average is at $2444, and at the time of writing, the price is 32 percent below that. This downturn can’t be called a healthy correction. The daily pivot level is also above the current trading level of the asset and stands at $1682.
Solana (SOL)
SOL, the leading L1 is trading at $66.04 and experienced a fall of 1.44 percent for the day at the time of writing, making it a 16.38 percent drop for the week. The mid and long-term also point out the depleting performance of the asset; over 30 days and 1 year, the asset has fallen 29.27 and 57.54 percent, respectively.
Price is currently ranging just below the daily pivot point at $66.60 and that is located a short distance above the 30-bar swing low at $60.41. The SMA-200 is stating the value of $101.70. This means price needs to rise 54 percent only in order to recover the longer-term moving average.
BNB
The BNB is being traded at $597.09, down by 0.68 percent on the day, 11.79 percent on the week, and 8.01 percent on the 30 days. The asset has comparatively performed less poorly than the other assets, as it’s down by 9.02 percent.
Only BNB has sustained well to produce a double-digit drop this month. With an RSI-14 of 41.49, momentum is on the weaker side. BNB has traded below the SMA-30 and SMA-200 but still appears close enough to the 7-day MA, at $603 relative to $597, for the short term to be only just breaking down. At 8.99, the MACD histogram is stating that it is the second-least severe negative score among the listed cryptocurrencies next to XRP.
XRP
Over the last month, XRP is down 18.52 percent and down 48.85 percent for the year. In comparison, it’s barely showing up with the moves on a daily basis; at the time of writing, it is down 0.23 percent, while week over week the asset is down 8.26 percent. The calm, however, is not necessarily positive.
XRP is trading at $1.16, the same as the 7-day MA, and the RSI-14 is at 34.10 & the MACD histogram at 0.015 shows a typical view of a market that has simply stopped going down without reason to rally. The 30-day SMA at $1.33 and the 50 percent retracement at $1.30 are levels that need to be broken in the case this asset wants a strong recovery.
