Shiba Inu Nears Breakdown, Bitcoin Faces Key Reversal, Ethereum Awaits Breakout”
The meme coin market is flashing red, and Shiba Inu (SHIB) is taking a hard hit. Currently trading at $0.0000133, SHIB has dropped around 4% today — but the technical picture is even more concerning. The 50-day Exponential Moving Average (EMA), a critical line of support in recent months, has been decisively broken, signaling deeper trouble ahead.
If this breakdown holds, SHIB could soon retest the early 2025 lows in the $0.0000120 to $0.0000090 range. A move into this zone would not only deal a psychological blow to retail investors but could also add another zero to its price. This dreaded milestone underscores weakening confidence.
Selling pressure is on the rise, the Relative Strength Index (RSI) continues to drift downward, and the volume profile offers little optimism. All signs indicate that bearish momentum is gaining strength.
Unless SHIB can quickly reclaim the 50 EMA and push back above the $0.0000145 to $0.0000150 range, the probability of a drop to $0.0000090 grows stronger by the day. Beyond being a technical failure, reaching that level would deeply damage investor sentiment — especially since SHIB’s value is so closely tied to speculation and community hype.
For now, SHIB remains stuck in a range marked by fading optimism. Any short-term bounce should be treated with caution. If the $0.0000120 level fails to hold, a sharp decline toward $0.0000090 could unfold — potentially turning current bearish sentiment into full-blown capitulation.
Bitcoin Eyes Key Support as Reversal Pattern Emerges
Bitcoin’s recent price action is presenting a classic technical setup that traders should watch closely. After reaching new local highs near $110,000, Bitcoin has pulled back and is now testing the 26-day Exponential Moving Average (EMA) as potential support. The decline, marked by several consecutive red candles, suggests a cooling period following the strong rally.
While this kind of consolidation is typical after a sharp move upward, the latest candlestick pattern may signal a potential reversal. The most recent daily candle shows a prominent lower wick, suggesting buyers are stepping in near the 26 EMA around $104,000. This doji-like pattern often reflects a shift in momentum, indicating that sellers are losing control and bulls are willing to defend the current price zone.
Currently trading around $106,000, Bitcoin has key support at $104,000 (26 EMA) and further down at the $99,800–$100,000 range. If the reversal holds, BTC could quickly retest the $110,000 level — and potentially break higher.
However, if the 26 EMA support fails, a deeper correction toward the 50 EMA near $95,000 is possible. Such a move would likely flush out weaker hands, potentially setting the stage for a stronger, more sustainable push to new highs in the future.
Bitcoin Shows Signs of Strength, But Caution Remains
Bitcoin’s recent reversal candlestick brings a glimmer of optimism, suggesting that its bullish trend may still be intact. However, the coming days will be key. Traders should closely monitor price action and volume around the 26 EMA for confirmation. If buying pressure increases, this technical pattern could signal the beginning of another upward move.
Ethereum at a Crossroads as Momentum Wanes
Ethereum is trading within a narrow ascending channel — a pattern that has slowly lifted prices but now raises caution. Currently priced around $2,690, ETH faces resistance near $2,850 and support around $2,500. While the channel initially appeared bullish, declining trading volume over the past week hints at weakening momentum and growing uncertainty among traders.
If ETH breaks below the lower trendline, a dip toward $2,400 is likely, with $2,100 as a deeper support level. On the flip side, a decisive breakout above $2,850 could mark the start of a stronger rally. In the broader context, Ethereum may still be gearing up for a larger move — but for now, it’s stuck between hesitation and potential
Ethereum Coiled for a Breakout as Market Waits
Ethereum is still clawing its way back from a prolonged and painful downtrend, with price action currently squeezed between the 50 and 100 Exponential Moving Averages. This compression reflects a broader sense of market indecision, as traders wait for a catalyst to drive the next big move.
For now, ETH remains confined within a narrow trading channel — but this won’t last forever. A breakout is inevitable. Whether it’s to the upside or downside, watch the key support and resistance levels closely. Once Ethereum breaks free from this range, it’s likely to set the direction for its next major trend.
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