Traders watch XRP, ETH, SOL and HYPE now that Bitcoin trades below $100K
Bitcoin has fallen below the $100,000 support level, stirring concern in the market as traders react to geopolitical tensions involving the US and Iran. This decline has caused major altcoins, including ETH, XRP, SOL, and HYPE, to also dip below their support levels, indicating a broad negative sentiment. Analysts continue to project long-term bullishness for Bitcoin, drawing comparisons with the 2017 crypto bull run. Predictions show that if BTC fails to recover above significant moving averages, it could drop to around $93,000. Meanwhile, ETH and XRP face similar challenges, with crucial support levels at $2,111 and $1.61, respectively. Solana is experiencing selling pressure following a bearish pattern completion, while Hyperliquid (HYPE) struggles to maintain above $32.26. The direction of these cryptocurrencies will largely depend on traders' ability to push prices back above critical resistance levels amidst ongoing volatility.
Source 🔗