Cryptocurrency markets are trading sideways on Tuesday morning, with Bitcoin consolidating around the $110,000 level.
Notable Statistics:
Coinglass data shows 129,994 traders were liquidated in the past 24 hours for 360.66 million. SoSoValue data shows net outflows of $126.6 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ET’Fs saw net outflows of $164.6 million.
Trader Notes: More Crypto Online noted Bitcoin has remained capped through the holiday weekend, with a breakout opening room toward the $118,000 liquidity zone. Traders are closely watching the $112,000 resistance.
Michael van de Poppe echoed this view, highlighting that a clean move above $112,000 could push Bitcoin to new all-time highs, while a rejection keeps $103,000 as a strong buy zone.
He added that the cycle top timing remains uncertain, as gold has also yet to make fresh highs.
For Ethereum, van de Poppe explained that reclaiming the 20-week EMA signals the start of a new uptrend, resembling the early 2020 setup.
He suggested this rally could extend well beyond just a few months.
JRCryptex flagged major whale accumulation of 340 million XRP ($962 million) in the past two weeks, with $268 million pulled from exchanges.
Price sits at the $2.80 support within a symmetrical triangle. Holding could drive a breakout above $3.20 toward $4-$4.20, while losing $2.70 risks invalidating the structure.
Crypto Bully continues to test key levels after a profitable run from $187 to above $200. Crypto Bully said he is waiting for a clean breakout setup, with $210 acting as the decisive flip level.
Meanwhile, Dogecoin is nearing the final stage of a falling wedge on the daily chart, according to Trader Tardigrade. This classic setup often precedes a bullish reversal as selling momentum fades.
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Unlock RankingsEdge RankingsMomentum89.69Price TrendShortMediumLongOverview$DOGEDogecoin – United States dollar$0.2086-2.42%$ETHEthereum – United States dollar$4268.31-2.83%$SHIBShiba Inu – United States dollar$0.000012-2.05%$SOLSolana – United States dollar$196.99-1.82%$XRPRipple – United States dollar$2.75-0.85%Market News and Data brought to you by Benzinga APIs
