Bitcoin’s slump under $103,000 crashes altcoins: FARTCOIN, ENA, LDO in freefall

Source Fxstreet
  • Bitcoin extends its losses amid market-wide risk-off sentiment, with Israel confirming strikes on Iran’s nuclear sites. 
  • FARTCOIN, ENA, and LDO experience double-digit crashes, reflecting the risk-off sentiment.
  • The technical outlook suggests room for a steeper correction if Bitcoin drops under $100,000. 

The broader cryptocurrency market risk-off sentiment, as Israel confirms attacks on Iran’s nuclear sites, triggers a wave of profit booking among top coins, leading to Bitcoin (BTC) edging lower by nearly 2% at press time on Friday. With the market leader under pressure, the top altcoins Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) have declined by nearly 10% in the last 24 hours, while XRP (XRP) has recorded a 6% drop during the same period. 

As the crypto market trades in the red, Fartcoin (FARTCOIN), Ethena (ENA), and Lido DAO (LDO) rank the chart with a pullback of nearly 20% in the last 24 hours. 

Bitcoin finds support at the 50-day EMA

Bitcoin trades in the red on Friday at press time, briefly dropping under $103,000 to $102,664. With the third consecutive bearish candle, BTC erases the recovery earlier this week and is down nearly 2% so far this week.

Bitcoin marks a short-term recovery as it bounces off the high-demand zone, marked in a green band, above $102,000 and the rising 50-day Exponential Moving Average (EMA) at $104,458. This creates a minor shadow in the intraday candle, projecting recovery chances later in the day. 

 The Moving Average Convergence/Divergence (MACD) indicates a failed bullish reversal, as it reverses from its signal line without crossing above it. With the resurgence of bearish histograms, the indicator suggests a pullback phase is underway. 

The Relative Strength Index (RSI) at 45 steps under the halfway level indicates a loss in bullish momentum. As RSI edges lower towards the oversold zone, it warns of further downside. 

A daily close under the 50-day EMA at $104,458 could violate the support zone above $102,000. In such a case, sidelined investors could find an entry opportunity with $100,372, the 30-day lowest trading price, as the next immediate support. 

BTC/USDT daily price chart.

However, a recovery later in the day, as Bitcoin upholds the 50-day EMA, could result in a consolidation move before taking a recovery run towards the all-time high of $111,980. 

Fartcoin’s reversal risks $1 fallout

Fartcoin marks its third consecutive bearish day, reversing from Wednesday’s high at $1.53. Crossing below its 50-day EMA at $1.13, the meme coin is down by over 10% to $1.09 at press time on Friday. 

The momentum indicator suggests a sharp surge in bearish momentum as the RSI at 45 drops below the halfway line and the MACD nears crossing below its signal line. 

The immediate support lies at $0.92, marked by the low on May 7, if it breaks below the $1 psychological support level.   

FARTCOIN/USDT daily price chart.

A reversal above $1.36 will nullify the downfall and could result in a surge towards the Wednesday high at $1.53. 

Downtrend prolongs in ENA, risks $0.25 retest

Ethena prolongs the lower high trend with the recent reversal from $0.37 on Wednesday. With an over 20% drop in the last three days, ENA tests the support level at $0.28, marked by a low last Thursday. 

The momentum indicators on the daily chart show a similar bearish momentum surge to other coins. The MACD indicator drops below its signal line while the RSI at 41 nears the oversold zone. 

A closing below $0.28 could test the lowest 30-day trading price at $0.25. 

ENA/USDT daily price chart.

A reversal above $0.30 could pause the steep correction, potentially leading to a sideways trend. 

LDO nosedives after failed $1 breakout 

LDO fails to close above the $1 psychological resistance level despite the breakout of a long-awaited resistance trendline in the daily chart. Closing below the 50-day EMA, the altcoin retests the broken trendline. 

The MACD indicator drops towards its signal line for a bearish crossover as the bullish histograms decline. The RSI indicator drops under the halfway level at 44, projecting a sudden decline in bullish momentum. 

If the downtrend extends, it could test the $0.74 support level marked by a low on May 6.

LDO/USDT daily price chart.

However, a reversal above could trend towards the $1 psychological level. 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Silver Price rallies to $47.00 with US Government shutdown looming Silver remains bid on US Dollar weakness, at 4-year highs, near $47.00.
Author  FXStreet
Sep 29, Mon
Silver remains bid on US Dollar weakness, at 4-year highs, near $47.00.
placeholder
Gold extends rally amid geopolitical risks and Fed rate cut bets; fresh record high and countingGold (XAU/USD) continues scaling new record highs during the Asian session on Tuesday and climbs beyond the $3,250 level amid a supportive fundamental backdrop.
Author  FXStreet
Sep 30, Tue
Gold (XAU/USD) continues scaling new record highs during the Asian session on Tuesday and climbs beyond the $3,250 level amid a supportive fundamental backdrop.
placeholder
US Dollar Index remains below 98.00 due to looming government shutdownThe US Dollar Index (DXY) is remaining subdued for the third successive session and trading around 97.90 during the Asian hours on Tuesday.
Author  FXStreet
Sep 30, Tue
The US Dollar Index (DXY) is remaining subdued for the third successive session and trading around 97.90 during the Asian hours on Tuesday.
placeholder
What to expect from Ethereum in October 2025With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
Author  Beincrypto
Sep 30, Tue
With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
placeholder
Meme Coins Price Prediction: Dogecoin, Shiba Inu, Pepe struggle to gain tractionMeme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) remain muted as the broader cryptocurrency market recovers.
Author  FXStreet
Sep 30, Tue
Meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) remain muted as the broader cryptocurrency market recovers.
Related Instrument
goTop
quote