BTC Correction Risks $200K; ETH & LTC Stall MAGACOIN Rallies
Bitcoin correction risks mount as BTC falls from $123K to $114K. Weekly RSI dip below its 14-week SMA signals potential 25–33% pullback to $95K. Despite institutional support and long-term accumulation, traders face short-term downside before a renewed bull run toward $200K. Ethereum battles resistance at $3,600–$4,000. Net taker outflows hit $418.8M as profit-taking cools momentum. A reclaim of $4,000 could spark fresh highs, but traders remain cautious. Litecoin trades near $109, down 10% from July peak, consolidating between $106.30 Fib support and 50-day EMA at $118.60. Miner activity stalls and social sentiment flat at 0.73%, awaiting catalyst from BTC recovery or ETF narrative. In contrast, MAGACOIN Finance emerges as an early-stage altcoin with SHIB-style breakout potential. During this Bitcoin correction phase, traders may pivot to narrative-driven altcoins.
Bearish
The article highlights growing correction risks for Bitcoin, Ethereum and Litecoin, driven by key technical signals and profit-taking. BTC’s RSI dip below its 14-week SMA historically precedes 25–33% declines, suggesting a pullback to around $95K before any move toward $200K. Ethereum faces heavy selling near $3,600–$4,000, while Litecoin’s limited volume and miner fatigue point to sideways action. Although MAGACOIN Finance offers an altcoin narrative, major-cap headwinds dominate the current market structure. Traders are likely to reduce long positions, increasing short-term volatility and downward pressure. This mirrors past cycles where technical crossovers led to brief but deep retracements before recovery, indicating a predominantly bearish near-term outlook despite longer-term bullish targets.