Bitcoin may be topping out as prices hit resistance levels tied to Fibonacci retracement points, with selling pressures intensifying ahead of weekly high zones. Gold appears to act as a hedge for Bitcoin, suggesting potential declines in the broader market. However, bears could mount a correction amid a 35% price pullback hypothesis supported by fractal patterns.
Cardano’s ADA faces resistance at $1.16, with bears targeting lower levels ahead of key support zones. Avalanche (AVAX) may test its weekly high after bouncing off the 20-day EMA, while Toncoin (TON) could see declines below its 50-day SMA as resistance nears.
Shiba Inu (SHIB) continues to struggle to break out of a downtrend channel, with bears maintaining control ahead of critical support levels. The broader crypto market remains under pressure, but Bitcoin and gold are the key drivers of price action. Near-term price movement will depend on whether bears can sustain selling interest or if technical indicators signal potential bottoms.
