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BTC 
SHIB 
XRP Bitcoin Crossroads: Approaching new benchmarks
As the cryptocurrency market exhibits different technical characteristics, Bitcoin is approaching a critical juncture at the US$65000 mark. At the same time, XRP is trying to stick to the US$1 mark, while exchange traffic for Shiba Inu Coin has slowed. Although these assets have rebounded in the short term, overall market sentiment remains cautious.
What is the current situation of Bitcoin?
Bitcoin has rebounded from the sideways trend in July and August and is currently trading at around $64843. The rise sent its price above its short-term moving average of about $63900, signaling renewed interest in short-term buying. The Relative Strength Index (RSI) rose to 56.6, indicating that the current technical rebound may continue but has not yet entered overbought territory. It is worth noting that $66300 becomes the next resistance level for Bitcoin.
If Bitcoin breaks through the range of US$66000 to US$67000, it may hit US$70000 again. Breaking the $66000 to $67000 level has been challenging since June. Only by breaking through this area can Bitcoin have a clear path to its long-term moving average of $71450. Such a breakthrough may accelerate its move towards the psychological threshold of $70000.
If Bitcoin falls below US$63800, the market may return to its previous range. There is important support at $62000, and intensified selling could test the $60000 level.
Can XRP hold on to the US$1 mark?
Amid recent selling pressure, XRP is trying to stay above the key $1 line. After a slight rebound, XRP is currently hovering around $1.018, indicating that buyers are looking to stabilize at this level. Although the short-term response seems positive, the overall technical aspect remains fragile. After falling to nearly $0.996, XRP rebounded above $1.01. The RSI rebounded to around 43, reflecting that the psychological level of US$1 may provide support.
Bitcoin: Key support is at $63800, main resistance is at $66300, and the next important target is about $70000. XRP: US$1 is the key support level, preliminary resistance is US$1.038, and the upper target is in the range of US$1.07 to US$1.10.
If XRP continues to fall below the main moving average, the resistance area of US$1.038 to US$1.074 will remain oppressive. To achieve a significant recovery, you need to break through the $1.07 to $1.10 range. If we fail to hold on to 1 dollar, it may open up space for us to go down to 0.95 or even 0.90 dollars.
Latest News of Shiba Inu Coin
Exchange traffic of Shiba Inu Coin has slowed down significantly. Previously, the large-scale SHIB transfer phenomenon has disappeared, and it is difficult for prices to rise steadily around US$0.000045. On the seventh day, the average exchange inflow dropped sharply to 859.8 million SHIB, falling below the billion mark. In the past 24 hours, average outflows fell 6.1% to 467.1 million SHIB. Despite this, net flows remained positive at 112.13 billion SHIB, and exchange reserves increased slightly by 0.13% to approximately 87.38 trillion SHIB.
The calm trading flow at SHIB does not mean a decrease in exchange supply, and the data suggests that supply remains high. Price movements are consistent with these observations. The SHIB is trading close to the short-term moving average of US$0.0000447, and the RSI is around 46, showing the first important resistance at US$0.0000488. Any significant rebound will need to break through that level, and the long-term moving average of around $0.0000575 remains a major challenge above.
