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Title: BTC, ETH, DOGE Crash Amid $1B Crypto Liquidation
The cryptocurrency market is in a state of turmoil as Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) experience a sharp decline, resulting in a staggering $1 billion liquidation. This significant correction has erased weeks of gains for the three top cryptocurrencies by market capitalization.
As reported, BTC plummeted below the critical $100,000 psychological barrier, with a current price at $95,536. If this downtrend continues, traders should prepare for further losses and potentially test $91,500 support. However, if BTC manages to reclaim its all-time high of $108,353 and then retest the $120,679 level (1.618 Fibonacci extension), it could signal a rebound.
In contrast, Ethereum’s recent bearish sentiment has led to a 14% pullback since reaching an all-time high earlier this month. The cryptocurrency is now trading at $3,284 and faces stiff resistance at its Ichimoku Cloud support. A breach of the cloud could propel ETH toward the $3,232 zone.
Meanwhile, Dogecoin (DOGE) has lost nearly 5.6% in a single day, currently priced at $0.296. This decline has resulted in a substantial loss of over 28% since the start of November. Market analysts predict that DOGE will continue to slide if it fails to hold onto this critical support level and may fall as low as $0.25.
The recent correction highlights a crucial shift in market sentiment, with many analysts pointing out that these corrections are an inevitable part of any healthy market cycle.
Source: coinchapter.com
