Over the last weeks, Bitcoin has been under downward pressure. This material explores recent price changes in major cryptocurrencies: Bitcoin, XRP, Pi Network, and Solana, analyzing their key support and resistance levels.
Bitcoin: Price Analysis
Bitcoin continues its decline after reaching $109,000 in January, to recent lows of $76,600. However, support at $76,000 has shown strength, bringing BTC back to $82,500 at the time of writing. Buyers may aim for the 20-day moving average level ($87,735) if current support holds.
Ripple XRP: Market Overview
The XRP/USDT pair forms a descending triangle, staying below the 20-day moving average, demonstrating sellers' advantage. If the $2 level does not hold, the price may fall to $1.62. However, a bullish reversal is possible if the price can hold above $2.35.
Pi Network and Solana: Trends
Pi Network shows strength by breaking through the upper boundary of a symmetrical triangle on the chart. Meanwhile, Solana continues to hold its support in the $110-120 zone. A breach may pose a risk of falling to $80, yet bulls are targeting levels at the 20-day moving average ($144) and the 200-day average ($184).
While the short-term outlook for cryptocurrencies remains uncertain, the long-term forecasts still seem positive for investors. Each of the analyzed cryptocurrencies displays unique market behavior, indicating the importance of comprehensive analysis before making investment decisions.
