BTC Stalls Below $120K, DOGE Holds EMA, SHIB Breakout Imminent
Bitcoin has stalled below the $120,000 resistance, indicating a potential downward trend. The recent loss of the 50-day exponential moving average (EMA) suggests a shift to bearish momentum. Key support levels now lie at the 100-day EMA around $110,500 and the 200-day EMA near $103,000. With the Relative Strength Index (RSI) dropping below 50 and low trading volumes, sellers may dominate in the short term.
Dogecoin remains in a medium-term bullish structure as its 50-day EMA stays above the 100- and 200-day EMAs. The price is testing the 50-day EMA support; if this holds, DOGE could retest resistance between $0.24 and $0.26. However, a break below the 50-day EMA risks a drop to $0.21 and potentially $0.20.
Shiba Inu approaches the apex of a symmetrical triangle, signaling an imminent breakout. A bearish EMA cross (50 falling below 100) could push SHIB under $0.000012. Conversely, a rally above $0.000014–$0.000015 may trigger a volatility-driven surge toward $0.000017. Traders should watch for confirmation of support or a decisive breakout to gauge the next major move.
Bearish
Bitcoin’s inability to sustain the 50-day EMA and repeated failures at the $120,000 level point to an emerging bearish trend. Historically, breaks below key EMAs have led to deeper retracements in BTC price. The falling RSI and low volume reinforce seller dominance, increasing short-term downside risk. While Dogecoin shows structural support, it remains tied to its EMA levels and could slip if those fail. Shiba Inu’s symmetrical triangle suggests high volatility ahead, but the next breakout could occur in either direction. Overall, the dominant bearish signals in Bitcoin coupled with uneven support in the altcoins tilt market sentiment toward bearish. Traders should prepare for potential dips before a possible medium-term recovery.