Bitcoin Faces Trend Pressure Below $100K
Bitcoin continues to face selling pressure, having slipped below the significant $100,000 mark. This decline has shifted pricing expectations in the short term, with sellers gaining control and volatility rising. The immediate focus for a potential directional trend reversal is on reclaiming key levels. Simultaneously, the EV2 token presale is capturing investor attention, particularly from those interested in early exposure to the blockchain gaming sector.
BTC Technical Analysis: Key Levels and Bearish Indicators
Crypto analyst Michaël van de Poppe has indicated that a market reversal for Bitcoin could occur if the price moves above the previous support zone of approximately $101,000. He noted that Bitcoin remains weak below this level, and many traders perceive the four-year cycle to have topped, contributing to the current selling pressure.
At the time of writing, BTC was trading around $97,000, marking a 6% decrease on the day, with a corresponding increase in trading volumes as sellers took profits. The price action on the chart displays a series of lower lows and lower highs, indicating a short-term downward structure. The breach below $100,000 has converted that zone into resistance, adding further pressure on buyers attempting to recover.
Technical indicators also suggest a bearish outlook for Bitcoin. The Exponential Moving Average 9 (EMA 9) is hovering near $100,176, while Bitcoin is trading at a considerably lower price. The Moving Average Convergence Divergence (MACD) indicator remains negative, with expanding red bars signaling that momentum is currently with the sellers. The Relative Strength Index (RSI) is approaching 31, indicating an oversold area where short-term bounces are likely to occur.
Support levels are currently situated near $97,000 and $95,000, with deeper support potentially at $92,500 if selling pressure intensifies. Resistance remains at $100,500 and $102,500, with a possibility of a push towards $105,000 if BTC can successfully recover above $101,000.
Price Prediction Outlook Amidst Trend Uncertainty
With elevated implied volatility, traders are closely monitoring the $95,000-$97,000 area for signs of stabilization. A bounce from this region could potentially lead to a rise towards $99,500, followed by a probe of the $100,000-$100,500 area. A confirmed close above $102,500 might validate a potential change in the short-term price structure.
Conversely, if support at $95,000 is not sustained, further declines towards $92,500 could occur. In a scenario of heavier selling, the price might fall to levels approximating $89,000. The reclamation of $101,000 remains the critical price point that many analysts consider essential for a broader recovery attempt.
EV2 Token Presale Launches Amidst Growing Interest in PvX Looter-Shooter Gameplay
While market attention is largely focused on Bitcoin's price action, Funtico has opened the public presale for $EV2, the native token for its upcoming open-world PvX looter shooter, Earth Version 2. The presale allocates 40% of the total token supply, providing early access for players and supporters. The presale is being conducted on the Ethereum blockchain.
Earth Version 2 is designed to feature large-scale battles, immersive cinematic environments, and five distinct customizable combat suits. Players will have the opportunity to explore multiple worlds, collect modular loot, and engage in various gameplay modes including PvE (Player versus Environment), PvP (Player versus Player), and PvEvP (Player versus Environment versus Player). One specific mode, Fracture, challenges 25 players to race against each other to collect color-coded cubes before initiating a final survival phase.
The EV2 token is built on the Avalanche network and is being offered at $0.01 during the presale. The total token supply stands at approximately 1.15 billion. Players and early participants can acquire the token using an Avalanche-powered wallet, with redemption available after the presale concludes. The project aims to bridge traditional gaming with decentralized finance through an in-game marketplace that will feature rare, collection-based digital assets and monetized, upgradeable assets, as detailed in the EV2 documentation.
The project's roadmap includes a full release with marketplace integration and scheduled tournaments designed to foster extended player engagement. Additionally, presale buyers are set to receive exclusive in-game bundles and digital items.
Concluding Observations
The current declining trend for Bitcoin is likely to continue until the price successfully reclaims the $101,000 resistance level. However, the cryptocurrency is also in an oversold state, which could lead to a rebound. In contrast, the EV2 presale continues to attract significant and growing interest.