The cryptocurrency market is witnessing renewed momentum, with Bitcoin (BTC) showing strong support levels, Dogecoin (DOGE) attracting buying interest, and Shiba Inu (SHIB) attempting a comeback. As trading volume increases, investors are closely monitoring price movements to assess whether a major breakout is on the horizon.
Bitcoin’s Next Move: Will It Cross $110,000?
Bitcoin is showing resilience above key support levels, currently trading at $102,700. A notable surge in trading volume suggests growing market interest, indicating that BTC could be preparing for another upward move.
BTC is holding above the 50-day Exponential Moving Average (EMA) at $100,800, a crucial level for bullish momentum. If Bitcoin maintains this support and successfully breaks past the $104,000 resistance, it could clear the way for a run toward $110,000, a major psychological level.
However, if BTC fails to sustain above $100,800, it may drop to $99,100 in the short term. A more significant correction could occur if it falls below the 200 EMA at $91,900, which remains a strong long-term support level.
With the Relative Strength Index (RSI) at 58, Bitcoin is not yet overbought, meaning there is still room for upside potential. If buyer interest remains high, BTC could first target $106,000, with $110,000 being the next major hurdle.
Dogecoin Gains Strength at Key Support
Dogecoin is also showing signs of stability, finding strong support at the 100 EMA ($0.31). Following a brief dip, buyers stepped in to prevent further losses, pushing DOGE back toward $0.32.
However, the 50 EMA at $0.35 remains a critical resistance level that Dogecoin has struggled to break. If DOGE manages a clear breakout above $0.35, it could trigger a rally toward $0.40 and beyond.
If the bullish momentum fades, DOGE may enter a consolidation phase, with $0.31 acting as a safety net. On the downside, a break below this level could push Dogecoin toward the 200 EMA at $0.25, increasing bearish risks.
Another factor to watch is the potential convergence of the 50 and 100 EMAs, which historically has triggered significant price swings. If volatility spikes, DOGE could see a sharp move in either direction in the coming days.
Shiba Inu Attempts First Rebound of 2025
Shiba Inu (SHIB) has finally shown its first sign of recovery in 2025, gaining 2.56% after a prolonged decline. SHIB is attempting to push higher but faces several resistance levels that could slow down its momentum.
The 200 EMA at $0.00002078 is the first major barrier. If SHIB successfully breaks above this level, it could signal a trend reversal, with potential upside toward $0.00002190 and $0.00002251.
However, the 50 EMA has recently rejected SHIB’s price, indicating that buyers are still facing resistance. If SHIB fails to hold above its recent lows, another dip toward $0.00001700 or lower is possible.
On the flip side, if buying pressure and volume increase, SHIB could regain bullish momentum and push toward $0.00002300. A confirmed breakout above $0.00002250 would solidify a shift in trend, attracting more buyers into the market.
What’s Next for the Crypto Market?
With Bitcoin’s volume surging, Dogecoin holding strong support, and Shiba Inu showing signs of life, the crypto market is at a critical juncture. If BTC continues its upward trajectory and breaks key resistance levels, it could set the stage for broader market gains.
Investors will be closely watching Bitcoin’s $104,000 resistance, Dogecoin’s $0.35 breakout, and Shiba Inu’s ability to hold above key moving averages for confirmation of a sustained uptrend.
As volatility picks up, the next few days could be pivotal for crypto traders looking to capitalize on market movements.