It has been observed that the search for a clear direction has come to the fore in the cryptocurrency market in recent days. While Bitcoin tries to hold on to an important technical zone after the last rally, altcoins and ecosystem projects with high volatility come to the fore. On the other hand, the weakening of interest in meme coins throughout the market is noteworthy.
Bitcoin is in an important support range
Bitcoin is trading in a technically critical support zone, retreating from $82,000 levels after the sharp rise since March. In the recent decline, although the price has lost its vertical recovery trend, it manages to stay above the 100-day moving average and moves close to the 200-day moving average. This technical structure indicates that short-term momentum is waning, although the market remains largely stable.
Currently, the main support level that traders are watching closely lies in the range of $76,000-$78,000. If this zone is maintained, it may be possible for the bulls to target $80,000-82,000 again. However, if the support is lost, sharp price movements may occur not only in Bitcoin but also in many altcoins and especially high-risk assets.
Macro developments such as the US Federal Reserve’s interest rate expectations and general risk appetite also play a role in the background of this pause in the Bitcoin price. Therefore, volatility is expected to remain high in the coming period.
Vertical breakout and strong momentum in ZEC
Zcash (ZEC), after a long accumulation period, made a sharp upward break after gathering in the $ 200-300 range. In this breakout that has been experienced since April, the price quickly regained all important moving averages and a strong volume increase was also seen.
With the RSI indicator rising above 70, ZEC moved into the overbought zone. Although this situation raises the possibility of fatigue in the short term, looking at price movements, it seems that buyers continue to step in during retreats. It is understood that traders are showing renewed interest in high-risk altcoins, especially in periods of increased volatility.
Hyperliquid continues its strong rise
Hyperliquid (HYPE) managed to become one of the strongest large-cap cryptocurrency charts by rising above the $50 psychological level. The price remains above both the 50- and 100-day moving averages, while the RSI also holds in the positive territory.
While many altcoins in the market are still struggling under resistance, HYPE quickly regains its rise after each correction. This picture indicates that there is a permanent demand in the market compared to temporary fluctuations.
Mini dictionary: As a project that offers a decentralized futures trading infrastructure, Hyperliquid promises a faster, transparent and user-oriented trading experience compared to traditional exchanges. This infrastructure attracts attention among investors as it is a growing area in the DeFi ecosystem.
However, it should also be taken into consideration that the momentum in the current rally is starting to get crowded and rapid profit selling may occur in possible market corrections. Still, the technical outlook remains positive unless the price loses the ascending support structure at $40.
Weak outlook on Dogecoin and Shiba Inu
Dogecoin (DOGE) has fallen back to around $0.10, which is important support after being rejected from the 200-day average in its last rally attempt. The fact that the volume on the buy side is insufficient during the rises and the RSI falls to low levels shows that the bulls are having difficulty regaining the momentum. However, the rising support line formed since the beginning of the year prevents the price from falling completely for now.
The $0.106-0.12 range stands out as the biggest resistance points ahead of the rise. While it seems that market participants are currently turning to infrastructure and ecosystem-oriented projects, the interest in classic meme coins has decreased. It is stated that if Bitcoin does not enter into a strong momentum, DOGE may remain in horizontal movement for a long time.
Shiba Inu (SHIB), on the other hand, is entering a technically risky zone by breaking its ascending channel and short-term moving averages downwards. RSI moving into a downtrend indicates that buyers are losing control.
Along with these resistance losses, the increase in volume sales also shows that outflows from assets are intensifying. At current levels, SHIB’s future direction largely depends on the critical support in the $0.0000061-$0.0000063 range. If this area is not regained quickly, the possibility of a new downward movement towards the lows in March becomes stronger.
Currently, while the trend towards ecosystem projects and infrastructure assets is increasing throughout the market, meme coins are not experiencing as strong purchasing interest as in the previous bull period. Technical breakdowns can lead to faster sales pressure in this segment.
As a result, while the search for direction in the cryptocurrency market continues, volatility and selectivity are expected to come to the fore in the coming days for traders focusing on technical indicators and support-resistance zones.
