The crypto market shows a moderate downward trend today, losing $22 billion in total market capitalization in 24 hours. Bitcoin is consolidating below the $115,000 resistance level, while Zcash sees the largest correction among major altcoins. Investors are closely watching critical support levels to gauge short-term direction.
Bitcoin is currently trading at $112,480, trapped in a narrow range between the support at $111,500 and resistance at $115,000. Could the king of crypto be heading back to $109,000?
This decline comes as Bitcoin hit its 6H POC at $115,440 and several important short-term moving averages (50 and 100-day).
After establishing support at $110,000 over the weekend, Bitcoin has a high probability of targeting liquidity below, around $109,000 to $108,000.
The Relative Strength Index (RSI) is positioned below the 50 mark, confirming bearish short-term momentum. This technical signal suggests that selling pressure could intensify if bulls fail to defend the current level. A break below $112,500 would open the path to test the $110,000 to $108,000 zone, where significant buy orders might materialize.
However, an alternative scenario remains plausible. If Bitcoin manages to break the $115,000 resistance with substantial volume, the next target would be $117,261. Such a move would invalidate the bearish outlook and could trigger a short squeeze, propelling BTC toward new heights.
Zcash emerges as the day’s biggest loser with a 10% decline today and 26% since its recent high, a performance that stands out while most altcoins maintain stability. ZEC currently trades at $223, just below the critical support at $224.
The price of $147 appears to be an ideal entry point for investors. Indeed, it corresponds to both a 6H POC and the 20-day MA. Generally, during bullish phases, the 20-day MA serves as a key support synonymous with massive rebounds.
Investors should monitor ZEC closely, as a return to this zone represents a perfect buying signal, with invalidation below $120.
Bitget offers an AI agent that can help beginners position themselves at critical levels to maximize returns. Buy ZEC on Bitget and get $10 free in just a few clicks:
The total crypto market capitalization (TOTAL) now stands at $3.83 trillion, down 0.57% over the last 24 hours. This contraction follows a weekend marked by high volatility, with significant oscillations that have shaken investor sentiment. The market is now entering a consolidation phase, but caution still dominates.
The support level at $3.81 trillion constitutes the immediate line of defense. A break below this technical threshold could trigger a wave of liquidations and propel TOTAL toward $3.73 trillion, erasing gains accumulated since mid-March. On-chain indicators show a decline in trading volume, a sign that institutional players are adopting a wait-and-see posture amid persistent macroeconomic uncertainty.
Conversely, a bounce above resistance at $3.89 trillion could revive risk appetite. In this bullish scenario, the path toward $4.00 trillion would become accessible again, with favorable technical momentum supported by exponential moving averages maintaining a positive configuration on the daily chart.
In institutional news, Bhutan is taking a major step by migrating its digital identity system from Polygon to Ethereum. This decision will allow 800,000 citizens to securely access government services via the blockchain. The complete migration is scheduled for early 2026, according to Aya Miyaguchi, President of the Ethereum Foundation.
Related articles:
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
