Bitcoin’s key support at $63,000 is under threat, signaling potential further decline.
Ethereum’s break below $2,600 could trigger a bearish continuation toward $2,580.
SHIB and DOGE remain under pressure, with critical support levels vulnerable to breaks.
The cryptocurrency market has started experiencing a downturn, with major coins like Bitcoin, Ethereum, Shiba Inu, Dogecoin, and Terra posting significant losses.
Traders and investors are left wondering if this presents a buying opportunity or if the market will continue its downward spiral. With Bitcoin losing value and altcoins like Ethereum and Dogecoin also falling, many are examining key support and resistance levels to gauge potential future price movements.
Bitcoin Struggles to Hold Key Support Levels
Bitcoin has seen its price drop to $63,600.84, representing a 3.51% decline over the past day. This continues the downward trend from $65,900, suggesting a bearish market sentiment.
Source: Coinmarketcap
Moreover, the 24-hour volume surged by 127.72%, indicating intense trading activity, likely driven by large sell-offs. The current support level is $63,000, but if Bitcoin breaks below this …
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