Crypto Market Trends: Stellar, Shiba Inu, and Bitcoin at Critical Junctures

Stellar (XLM) Faces Bearish Pressures

Stellar’s price has dropped to $0.22, down 1.83% daily, intensifying bearish sentiments. The asset is nearing a death cross, a bearish technical signal, as the 50-day MA falls below the 200-day MA. XLM has broken below its 100-day and 200-day MAs, which previously acted as support. The next critical support level is $0.20, a historical and psychological threshold. A breach here could trigger further losses or a potential bounce. With the RSI at 32, approaching oversold territory, a brief recovery is possible, but bearish momentum may persist.

Shiba Inu (SHIB) Shows Signs of Reversal Potential

Shiba Inu is at a pivotal point, with trading volume spiking as SHIB retests the $0.000011 support level. This area has historically served as a rebound point, and the volume surge suggests potential whale accumulation. The RSI, currently at 35, nearing oversold territory, supports the case for a bullish reversal, as SHIB has historically recovered when the RSI drops below 40. If buying pressure persists, SHIB could target the $0.00001280 resistance level, with the 50-day MA at $0.00001320 as the next hurdle.

Bitcoin (BTC) Battles for $80,000 Threshold

Bitcoin is struggling to reclaim the psychologically crucial $80,000 level after a sharp correction from $85,000 to $77,000. The recent sell-off, driven by global macroeconomic concerns and geopolitical tensions, pushed BTC below its 200-day MA, intensifying bearish sentiment. However, a swift recovery from $77,000, supported by increased volume, has renewed optimism. BTC now trades between $79,000 and $80,000, with $83,500 and $85,000 as key resistance levels. While the recovery indicates strong demand below $80,000, closing below this level could encourage short-term selling if momentum falters.