Bitcoin Faces Risk of Further Drop Toward $102,000
Bitcoin (BTC) trades near its 200-day Exponential Moving Average (EMA) at $108,067 on Friday. The price has fallen for three days in a row. This is the lowest daily close since July 7. If Bitcoin falls below the 200-day EMA and the S1 Pivot Point at $108,235, it could drop further to the S2 Pivot Point at $102,422.
Technical indicators show rising selling pressure. The MACD’s red histogram is increasing, signaling a downtrend. The Relative Strength Index (RSI) is at 37 and may fall toward the oversold zone if prices continue to drop.
A bounce from the 200-day EMA seems unlikely without strong market support. If Bitcoin recovers, it may face resistance near the center Pivot Point at $113,067, close to the 100-day EMA.
Pump.fun (PUMP) Nears Key Support Level
Pump.fun (PUMP) is the biggest loser among the top 100 cryptocurrencies. It has fallen for four days straight. On Friday, PUMP dropped 2%, adding to a 9.5% loss from the previous day.
PUMP is approaching the S1 Pivot Point support at $0.003134. If it breaks this level, the price could fall to Friday’s low of $0.001496. The MACD and its signal line have crossed below zero, showing bearish momentum. The RSI is 32, close to the oversold zone.
If PUMP bounces from $0.003134, it may test the psychological resistance at $0.005000.
Flare (FLR) and Bittensor (TAO) Show Weakness
- Flare (FLR): FLR trades just above $0.01700, extending its drop from the S1 Pivot Point at $0.02066. The 50-day and 100-day EMAs are declining, risking a bearish crossover. The MACD is in negative territory, and the RSI is 29, in the oversold zone. A rebound seems unlikely but could test $0.02000 if the market improves.
- Bittensor (TAO): TAO fell below the $400 level after an 8% drop on Thursday. It lost another 1% on Friday, marking three days of decline. The 200-day EMA at $359 is the next support. The MACD and signal line suggest weakening buying pressure. The RSI dropped from overbought to neutral at 53. A bounce from the 200-day EMA could push TAO toward the R2 Pivot Point at $405.
