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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 experiencing a rollercoaster ride lately, with many assets plummeting in value. However, there is one bright spot amidst the chaos – Bitcoin’s recent recovery from the oversold levels. A notable increase in volume however suggested that buyers were feeling confident as Bitcoin swiftly recovered from the $77,000 area. With Bitcoin managing to stabilize between $79,000 and $80,000 this recovery has rekindled market optimism.
There is more to the fight for $80,000 than meets the eye. It’s a crucial support level that might enable Bitcoin to restore its bullish structure if it is reclaimed and maintained. Near $83,500 and $85,000 which were levels of support during Bitcoin ‘s consolidation earlier this year are immediate resistance.
The good news is that the quick recovery indicates that there is a high level of demand below $80,000. Unfortunately, despite that recovery Bitcoin closed below this crucial level which may encourage more short-term selling if momentum stalls.
On the other hand, Stellar (XLM) seems to be heading towards a death cross, which could spell disaster for the cryptocurrency. With the 50-day Simple Moving Average (SMA) poised to cross above the 200-day SMA, XLM is at risk of losing its bullish momentum. In light of this development, it’s crucial that Shiba Inu (SHIB) makes a strong comeback soon.
SHIB must surge now as the current market dynamics suggest that it could be one of the top performers in the near future. With Shiba Inu trading above the $0.000013 resistance, we might see a rapid upswing if Bitcoin manages to reclaim its lost ground.
Source: https://u.today/stellar-xlm-on-verge-of-death-cross-shiba-inu-shib-has-to-surge-now-here-why-bitcoin-btc-winning
