Altcoin rebound signals emerge, Bitcoin approaches the $70,000 threshold

As the cryptocurrency market regains activity, mainstream altcoins are beginning to show upward momentum. At the start of the new year, the long-standing bearish sentiment among investors seems to be easing, especially as meme coins have recently experienced significant gains, rekindling interest in risk assets. According to the latest market data, Bitcoin is currently around $71,220, and Ethereum is near $2,080. While these are adjustments from their early-year highs, there are still several technical rebound points worth noting.

Can PEPE Coin’s Short-Term Rally Continue?

PEPE coin has recently performed relatively well despite a 24-hour decline of -4.49%. From a technical perspective, signs of a short-term rebound still exist. Historically, PEPE once surged quickly from $0.00000412, nearly 20%, a rare move in recent times.

If PEPE can stay above the key level of $0.00000487, it may challenge higher targets. Potential future levels include $0.00000570 to $0.00000939, with further upside aiming at around $0.00001221. However, investors should note that the sustainability of this rebound still needs time to be confirmed in the current market environment. Short-term trading should be cautious, and consider adding positions only after technical breakouts are validated.

Key Support and Breakout Opportunities for Cardano (ADA)

ADA is currently trading near $0.27, with a 24-hour decline of -2.56%. Looking back, ADA experienced over 80 days of continuous decline, but since hitting a low of $0.332, it has shown a slight rebound, with intraday gains exceeding 7%. While signs of a rebound are emerging, a trend reversal is still premature to confirm.

If ADA can hold above the support level of $0.385, it could rise toward $0.4845. The critical factor for a true trend reversal is breaking through the resistance at $0.5453. Until a confirmed breakout occurs, investors should remain cautious to avoid early entries driven by optimism that could lead to losses. Similar rebounds have occurred multiple times but were ultimately suppressed by selling pressure, so patience and confirmation signals are crucial.

Shiba Inu (SHIB) Testing Bottom Before Confirmation

SHIB is currently trading between $0.000006 and $0.000007, with a 24-hour decline of -2.63%. This meme coin has experienced nearly continuous decline throughout 2024, testing investors’ resolve.

Technically, SHIB broke below the support at $0.00002063 in Q3 2024 and continued downward, reaching a low near $0.00000687 at year-end. Recently, there has been an attempt to recover above $0.00000754, but until the closing price stabilizes above $0.00000829, it’s too early to declare a true bottom. Similar rebounds in early December were ultimately suppressed by selling pressure, leading to new lows.

After a heavily oversold condition, rushing to buy the dip is not advisable. Investors should wait for clearer bullish signals, such as a breakout above previous resistance levels, before considering positions. Only with confirmed upward momentum can profit potential be fully realized. Patience and discipline are equally important at this stage.

In the current market environment, while rebounds in mainstream altcoins are worth watching, their strength and sustainability still require further validation. Investors should carefully assess risks and wait for confirmation at key support levels before entering positions.