The crypto market is at a crucial moment as Bitcoin's activity shows early signs of weakening. Despite ambitious targets, analysts are flagging short-term risks. Ethereum and Litecoin are also nearing key resistance zones.
Bitcoin: Correction Before Growth?
Bitcoin (BTC) is currently trading around $114,000 after peaking above $123,000 in mid-July. However, key technical indicators have flashed red, suggesting a potential correction. The weekly Relative Strength Index (RSI) has dipped below its 14-week simple moving average, a crossover that preceded 25–33% corrections twice in 2024. If history repeats, BTC could fall to $95,000 before resuming its long-term uptrend. Nonetheless, macro sentiment remains bullish.
Ethereum: Selling Pressure at Resistance
Ethereum (ETH) is also battling a multiyear resistance zone between $3,600 and $4,000. On-chain data reveals a worrying trend: Net Taker Volume dropped to -$418.8 million this week, marking the second-largest daily outflow in ETH’s history, with over 115,000 more ETH sold than bought via market orders. This suggests a cooling rally as traders take profits and momentum slows.
Litecoin: Mining Fatigue and Sideways Action
Litecoin (LTC) is down roughly 10% from its July high, now trading near $109. With daily trading volume at $1.4 billion, analysts note that miner sentiment is waning. Institutional mining activity has stalled, and whale wallets have shown signs of redistribution despite retail interest picking up.
The crypto market is undergoing significant shifts. As Bitcoin, Ethereum, and Litecoin reassess their positions near key resistance levels, new narratives around low-cap tokens are beginning to gain traction.
