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Stellar (XLM) On Verge of Death Cross, Shiba Inu (SHIB) Has To Surge Now: Here Why, Bitcoin (BTC) Winning Fight For $80,000
The cryptocurrency market has been going through a turbulent period lately. Amidst this volatility, Bitcoin’s recent recovery from the $77,000 area has caught attention. This rally was accompanied by an oversold level, which suggests that buyers were feeling confident. The swift recovery to stabilize between $79,000 and $80,000 has rekindled market optimism.
However, there is more to Bitcoin’s fight for this crucial support than meets the eye. Regaining this level could enable Bitcoin to restore its bullish structure. Additionally, nearby levels of support at around $83,500 and $85,000, which previously served as resistance during Bitcoin’s consolidation in earlier this year, may now serve as a barrier.
On a more positive note, the recovery indicates that there is substantial demand below $80,000. Unfortunately, despite this recovery, Bitcoin failed to close above this key level, which might lead to further short-term selling if momentum stalls.
Meanwhile, Shiba Inu’s recent downturn has led to an 82.58% plunge in its burn rate over a seven-day period amidst the market turmoil. This development highlights the importance of immediate action for SHIB, as it cannot afford any more setbacks.
The author is Caroline Amosun
Source: https://u.today/stellar-xlm-on-verge-of-death-cross-shiba-inu-shib-has-to-surge-now-here-why-bitcoin-btc-winning
