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The price of BTC faced a rapid decline after testing the $99,000 mark on Friday. Just as things seemed to stabilize, the ByBit exchange encountered a historic hack worth $1.46 billion, drastically shifting market sentiments. What do the latest predictions indicate? What should traders expect now?
Ether and PEPE Coin Analysis
Ether managed to reclaim $2,800 but struggles to gain any further momentum. Weekend trading volumes have halved, dipping to around $60 billion. In a graph shared during the preparation of this article, Carl Moon noted:
“ETH can rise at any moment! If it surpasses $2,850, we can test both declining resistance and the psychological level of $3,000.”
Although the price is just below this resistance level, BTC has retreated to $96,150, causing traders to exercise caution. Altcoin investors have seen each rally lead to even greater traps over the months, making it unlikely for the barriers of fear to crumble easily.
PEPE Coin has shown a dip area as indicated by Ali Charts, suggesting that further declines may not be on the horizon. The price has touched the lower end of its declining price channel for the second time, following a previous unsuccessful recovery attempt.
“PEPE is holding above the lower boundary of this parallel channel. If support continues, we might see a recovery to $0.000016!” – Ali Charts
Bitcoin (BTC)
Sufficient time has passed since the halving event, and BTC reached new all-time highs. However, as it aims for greater heights, the $90,000 threshold has remained intact for quite some time. This could suggest a prolonged period of stability before the next surge towards peak levels.
What if we witness a correction similar to the one seen before the second peak in 2021? Nic offers insights on potential price retracements:
“If BTC faces a significant correction, based on historical on-chain data, we can estimate a bounce at the -1σ level around $71,600. Can you withstand this drop?”
