- Bitcoin has failed to break above the resistance of $70,000.
- XRP is facing resistance around the $0.65 price level and is down 13% in seven days.
- SHIB has crashed 80% from its all-time high and awaiting breakout.
Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, continues to struggle to break through the $70,000 resistance level despite several attempts over the past few days. BTC currently hovers around $67,584.44, having risen 0.77% in the last 24 hours. Its market capitalization stands at $1.34 trillion.
Bitcoin fell 1.91% over the past week but gained a modest 2.49% over the past 30 days. The leading cryptocurrency trades just 8.36% below its all-time high of $73,750, according to CoinMarketCap data. Since October 2023, BTC soared 98.15%.
As seen from the chart below, Bitcoin tested the $65,000-$66,000 support level several times in recent days and now encounters strong resistance at $70,000. Trading volume declined amid market uncertainty.
The Relative Strength Index (RSI) reads a value of 58.85 which means that the bulls are still in control of the Bitcoin price action. The gradient of the line suggests that lower prices are possible in the short term.
What About XRP and SHIB?
XRP currently trades at $0.5125, down 0.39% over the last 24 hours. The altcoin plummeted 6.51% over the past week and slid 13.14% over the past 30 days. Since October 2023, XRP fell 6.17%. Significant resistance remains at $0.65.
Shiba Inu (SHIB), the second-largest meme coin by market capitalization, fell 0.48% in the last 24 hours and currently trades 80.86% below its all-time high of $0.00008845. SHIB declined 12.00% over the past week and 18.35% over the past 30 days. But since October 2023, SHIB gained a considerable 117.65%.
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