Bitcoin (BTC) $104,172 price has reached $78,700, as US stocks faced significant declines today. Concerns about the US entering a recession this year are weighing heavily on traders. While Trump and his team might downplay these issues, the global trade war presents a major threat to risk markets. What are the latest price predictions for Floki, DOGE, and ETH?
Ethereum (ETH)
In the last 24 hours, BTC experienced $327 million in liquidations, with ETH nearing $200 million. Most liquidations were from long positions, resulting in a 5% drop in open positions. Short positions are now dominant, with volumes escalating to $275 billion as a result of heavy selling.
ETH has dropped to $1,800 today, a price not seen since the recovery following the November 2023 crash. After 496 days, ETH has returned to its starting point. Although it surpassed $4,000 during this period, those peaks were fleeting, leading to rapid losses. The breach of the $2,150 support level contributed to today’s grim outlook.
If the price can reclaim this support, it may push towards resistance levels at $2,350 and $2,734.
Dogecoin (DOGE) and Floki Coin
The $0.157 region remains crucial for Dogecoin $0.228898 (DOGE) as it attempts to initiate a rally throughout 2024. We noted that closing above this level could accelerate the rally. Following a breakout after 249 days, DOGE’s price increased by 200%. However, this vital zone is now at risk of being breached, with continued closures below $85,000 escalating concerns about the overall market downturn.
If the downward trend persists, DOGE could retreat to the $0.125 and $0.107 areas, potentially triggering severe selling pressure.
Floki Coin continues its steady decline after 108 days, with losses nearing 80%. A buyer who invested $100 three months ago would need a five-fold price increase to break even. This rapid drop is characteristic of the cryptocurrency market and can be attributed to the unpredictable policies of Trump.
Moving forward, investors have limited options; they may witness either a bottoming out or a decline back to $0.00003756, marking a nearly 90% loss.