Cryptocurrency markets are trading higher on Wednesday morning, with sentiment slowly improving.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $111,192.09 |
| Ethereum | (CRYPTO: ETH) | $4,602.45 |
| Solana | (CRYPTO: SOL) | $204.74 |
| XRP | (CRYPTO: XRP) | $3.01 |
| Dogecoin | (CRYPTO: DOGE) | $0.2207 |
| Shiba Inu | (CRYPTO: SHIB) | $0.00001248 |
Notable Statistics:
- Coinglass data shows 83,243 traders were liquidated in the past 24 hours for $263.75 million.
- SoSoValue data shows net inflows of $88.2 million into spot Bitcoin ETFs on Wednesday. Spot Ethereum ET'Fs saw net inflows of $455 million.
- CoinMarketCap data shows the crypto fear and greed index stands at neutral currently.
Trader Notes: Quinten Francois explained that Bitcoin has lost the $112,000 support and was rejected on its retest, confirming it as resistance.
The short-term trend remains bearish with lower highs and lower lows, pointing to potential downside toward $106,500 or even $100,000.
Still, the long-term outlook stays bullish, as such a move would only be a 20% correction from all-time highs.
More Crypto Online sees Bitcoin has bounced but remains below the upper trend line.
The rebound appears to be a 3-wave corrective move, suggesting the risk of further downside and potential lower lows is still high.
Crypto trader Ted Pillows noted Ethereum has bounced 7.7% from $4,300 support levels and a push to $4,800 will be the strongest move for the altcoin. However, he also predicts the possibility of a higher-low or retest of $4,300 again.
Cryptoinsightuk explained that XRP is showing strength with a bullish RSI cross and no structural damage despite the pullback.
The daily close was positive, but confirmation with another day of strong price action and volume is needed before calling a breakout.
Bluntz Capital noted an ascending triangle breakout for Solana as 36 days of ranging will come to an end soon.
Crypto chart analyst Ali Martinez predicts a break above $0.23 will trigger a Dogecoin rally.
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