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The crypto markets are down, with Bitcoin (BTC) falling below $55,000 and trading at $53,937. Major cryptocurrencies like Ethereum (ETH), Solana (SOL), and Toncoin (TON) have also dropped significantly, following Bitcoin’s lead.The cryptocurrency market has dropped sharply recently, with BTC falling below $60,000 on Thursday and now trading below $55,000. <a href="https://cryptosheadlines.com/attention-on-meme-coins-meme-stocks-and-ripple-in-weekly-cryptosheadlines/" rel="noopener noreferrer nofollow">Meme coins</a> have also fallen, and the global market is down nearly 5%, to $2.07 trillion. The Fear and Greed Index shows Fear, suggesting <a href="https://cryptosheadlines.com/solana-price-3-reasons-it-might-drop-to-140-before-reaching-200/" rel="noopener noreferrer nofollow">prices might drop</a> further.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/6aa3a05d6916429ba0465371b621e5ca.png" /><h3 id="bitcoin-faces-pressure-after-recent-price-drops">Bitcoin Faces Pressure After Recent Price Drops</h3>Bitcoin (BTC) has been declining since being rejected at $64,000 on Monday, despite a bullish weekend. After a slight increase on Monday, BTC fell by 1.25% to $62,106 on Tuesday. The downward trend continued on Wednesday, with BTC dropping just over 3% to $60,215. Selling pressure led to a breach of the $60,000 support level, causing BTC to slump more than 5% to $57,097. This drop also meant BTC lost the 200-day SMA, a critical support level during bull markets. Currently, BTC is down just over 4%, trading at $54,688.The recent drop coincides with a significant $2.7 billion transaction by Mt. Gox, which has resumed moving large amounts of BTC to an unknown wallet. Traders had hoped BTC would stabilize around the $55,000 level, but this support has also been breached, pushing the price down to $54,640 in the ongoing session. If BTC can recover and rise above $55,000, it might stabilize. However, failing to do so could lead to a more substantial decline.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/1a379ab2eb814fe5b041aa229079cc22.png" />Bitcoin overview / Source: <a href="https://www.tradingview.com/x/Rt8f8n3T/" rel="noopener noreferrer nofollow">TradingView</a>The RSI, now in oversold territory, suggests a potential short-term recovery for BTC.<a href="https://cryptosheadlines.com/four-altcoins-with-big-potential/" rel="noopener noreferrer nofollow">Also Read: Four Altcoins with Big Potential</a><h3 id="ethereum-struggles-as-3-000-support-level-fails">Ethereum Struggles as $3,000 Support Level Fails</h3>Ethereum (ETH) has lost the crucial $3,000 support level in today’s session, reflecting the strong bearish sentiment in the market. Despite hopes for a bullish turnaround with the approaching Ethereum ETF launch, recent price actions have dampened these expectations. <a href="https://cryptosheadlines.com/defi-hacked-altcoin-plummets-eth-stolen/" rel="noopener noreferrer nofollow">ETH has plummeted</a> by 10.77% in the past 24 hours, falling below this critical support level.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/6aa3a05d6916429ba0465371b621e5ca.png" />On Monday, ETH <a href="https://cryptosheadlines.com/bnbs-resistance-struggle-analysts-bearish-outlook-amid-market-challenges/" rel="noopener noreferrer nofollow">struggled with resistance</a> at the $3,500 mark and failed to break above it. The price dropped slightly on Tuesday to $3,418 and saw intensified selling pressure on Wednesday, falling 3.64% to $3,293. By Thursday, the bearish sentiment continued, driving ETH down over 7% to $3,059, just above the $3,000 support level. However, the price slipped below $3,000 during the current session and is now trading at $2,848, down almost 7%.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/741b82f80fa54a6c8c95d60d84ccd415.png" />ETH struggled with resistance / Source: <a href="https://www.tradingview.com/x/TFPUznWg/" rel="noopener noreferrer nofollow">TradingView</a>If buyers can push ETH back above $3,000, it may move towards the $3,100 and $3,300 range. However, if selling pressure persists, the price could continue to decline. The RSI has entered the oversold region, indicating a potential short-term recovery and suggesting that ETH might return to the $3,000 level.<h3 id="weekly-crypto-market-overview-sol-dot-ton-shib-ltc-atom">Weekly Crypto Market Overview: SOL, DOT, TON, SHIB, LTC, ATOM</h3>Solana (SOL): Solana has faced a challenging week, with a nearly 14% drop in its price. After reaching $153.86 on Tuesday, SOL struggled with resistance at the 50-day SMA and dropped by 8.53% to $140.74. On Wednesday, SOL fell over 9% to $127.85 and slipped below the 200-day SMA. Currently, SOL is down by 2.50%, trading at $124.72. A continued decline may see SOL stabilize around $120, where it has support, and a rebound from this level could push it back toward the 200-day SMA.<a href="https://cryptosheadlines.com/beam-volume-surges-217-price-up-10-83-whats-next/" rel="noopener noreferrer nofollow">Also Read: BEAM Volume Surges 217%, Price Up 10.83%: What&#39;s Next?</a>Polkadot (DOT): Polkadot has experienced a 15% drop this week. It hit a low of $4.92 during the current session but has since risen above $5. On Tuesday, DOT reached $6.52 but faced strong selling pressure. By Wednesday, DOT had fallen nearly 7% to close just above $6. The bearish trend persisted, leading to an 8.57% drop on Thursday, with DOT settling at $5.55, just above the $5.50 support level. Currently, DOT is down nearly 4%, having lost the $5.50 support. If buyers can reclaim this level, <a href="https://cryptosheadlines.com/polkadot-price-analysis-dot-consolidates-whats-next/" rel="noopener noreferrer nofollow">DOT might consolidate</a> before attempting to reach $6.Toncoin (TON): Toncoin has dropped over 11% in the past 24 hours, falling below the 50-day SMA and the crucial $7 level. TON peaked at $8.09 on Tuesday but fell back below $8 to $7.91 on Wednesday. Thursday saw a nearly <a href="https://cryptosheadlines.com/todays-crypto-prices-bitcoin-and-ethereum-decline-pepe-price-drops-10/" rel="noopener noreferrer nofollow">10% drop</a>, with TON settling at $7.14. During the current session, TON has slipped below $7 and is trading at $6.59, down by almost 8%. If TON can recover and retake the $7 level, it might see a sustained recovery; otherwise, further declines could occur.Shiba Inu (SHIB): The meme coin market has suffered, with Shiba Inu losing nearly 18% in the past 24 hours. <a href="https://cryptosheadlines.com/bonk-price-surpasses-shib-and-doge-achieving-new-all-time-high/" rel="noopener noreferrer nofollow">SHIB failed to surpass</a> $0.000017 and fell by 5.05% to $0.0000163 on Wednesday. On Thursday, SHIB <a href="https://cryptosheadlines.com/solanas-value-drops-near-100-next-price-level/" rel="noopener noreferrer nofollow">dropped nearly</a> 11% to $0.0000146. The current session shows SHIB down by 8.61%. If the price continues to fall, it might reach $0.000013, where buyers could step in. A drop below this level could lead to a more significant decline.<a href="https://cryptosheadlines.com/dogwifhat-wif-outperforms-doge-shib-and-pepe/" rel="noopener noreferrer nofollow">Also Read: Dogwifhat (WIF) Outperforms DOGE- SHIB and PEPE</a>Litecoin (LTC): Litecoin has seen a dramatic drop of nearly 20% this week. After a strong start, LTC failed to maintain levels above $75 and plummeted below the 20-day SMA to $72.09 on Wednesday. The decline continued on Thursday, with LTC falling below $70 to $65.41. Currently, LTC is down almost 11%, trading at $58.37 after rebounding from a day low of $56.83. If the price recovers, LTC might climb back above $60. The RSI indicates LTC is oversold, suggesting a potential short-term recovery.Cosmos (ATOM): Cosmos struggled to surpass the 20-day SMA on Monday, and after a small drop on Tuesday, ATOM fell below its $6.50 support level, settling at $6.37. The decline continued on Thursday, with ATOM dropping over 6% to $5.99. The current session shows a staggering 11.24% drop, with ATOM trading at $5.06, recovering from a day low. The RSI in the oversold region suggests a possible recovery, with potential upward movement if ATOM can push above $5.50 and approach $6.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/e3cbc7f578ac4c609b9482646a82032a.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Today’s Crypto Price Analysis: BTC- ETH- SOL- DOT- TON- SHIB- LTC- ATOM

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