- Bitcoin (BTC) has lost its main support at the 50 EMA, signaling a potential downtrend as 2025 begins
- Shiba Inu (SHIB) has touched the crucial 200 EMA support level, raising concerns about a severe correction
- XRP is struggling to hold above the $2 psychological support level amid waning momentum from its recent bull run
As the cryptocurrency market prepares to enter the year 2025, signs of turbulence are becoming increasingly evident. Top cryptocurrencies such as Bitcoin (BTC), Shiba Inu (SHIB), and Ripple’s XRP are showing signs of weakness, raising concerns among investors globally.
Bitcoin: Losing Crucial Support
Bitcoin, the leading cryptocurrency, is exhibiting worrying trends as 2024 draws to a close. It has lost its main support at the 50 EMA (Exponential Moving Average) – a level critical for maintaining bullish momentum. This change signifies a considerable shift in market sentiment, hinting at potential further declines as we step into 2025.
With the loss of the 50 EMA, there could be an increase in selling pressure, especially if traders anticipate the downtrend to persist. The next significant support levels are the 200 EMA, around $76,160, and the psychological level at $85,457. Failure for Bitcoin to stabilize at these levels could lead to more severe drops in the first quarter of 2025.
Shiba Inu: Touching a Critical Level
Shiba Inu, the meme coin turned serious contender, has reached the 200 EMA, a critical support threshold. While support levels usually offer opportunities for rebound, reaching the 200 EMA in this context is a cause for concern. Historically, assets falling to this level have often signaled a change in momentum and a possibility of a more severe correction.
Shiba Inu has not performed well towards the end of 2024, and the bulls seem to be struggling to regain control. The move to the 200 EMA indicates that Shiba Inu is vulnerable due to a prolonged period of weak demand and selling pressure. A recovery from this level is possible, but it would require significant buying pressure and renewed market interest to counter the bearish outlook.
XRP: Struggling at a Crucial Level
Ripple’s XRP is grappling with the important $2 support level as 2024 draws to a close. Its inability to recover above this psychological barrier indicates a possible shift in market sentiment as the new year approaches. The $2 mark has acted as a pivot point in XRP’s performance, particularly following its impressive surge earlier in the year. The asset’s current struggle to hold this level raises questions about whether the momentum can be regained in 2025.
Conclusion
In conclusion, the year 2025 is set to be crucial for these cryptocurrencies. Bitcoin, Shiba Inu, and Ripple’s XRP are all at critical junctures, and their performance could heavily influence the overall cryptocurrency market. Investors and traders should keep a close eye on these assets as we march into the new year.
