Shiba Inu on the Brink as Key Support Breaks
The meme coin market is bleeding red, and Shiba Inu (SHIB) is at serious risk of adding another dreaded zero to its price. Currently trading around $0.0000133, SHIB is down roughly 4% on the day — but the bigger concern lies beneath the surface.
SHIB has decisively broken below the 50-day Exponential Moving Average (EMA) — a key technical support level that had been holding for months. This breakdown is a bearish signal, suggesting further downside could be ahead. If SHIB fails to reclaim this level quickly, a drop into the $0.0000120 to $0.0000090 range is likely. That would mark a test of the lows seen in early 2025 and would also introduce another zero to its price, dealing a major psychological blow to retail investors.
Momentum indicators aren’t offering much hope either. The Relative Strength Index (RSI) is drifting downward, and trading volume is increasing on the sell side — both signs that the bears are currently in control. The volume profile reflects weakening interest, and unless SHIB manages to climb back above $0.0000145 to $0.0000150, the bearish pressure is likely to intensify.
Shiba Inu, driven largely by speculation and community hype, is vulnerable to rapid sentiment shifts. A further price drop could shake out long-term holders and erode liquidity, potentially accelerating the decline.
In short, SHIB is now stuck in a zone of fading optimism. Any short-term bounce should be viewed as temporary relief unless it can close back above the 50 EMA. A break below $0.0000120 would likely lead to a plunge toward $0.0000090, deepening the current bearish sentiment into outright despair.
Bitcoin Finds a Lifeline at 26 EMA
Bitcoin is displaying a textbook technical setup that traders should be watching closely. After rallying to recent highs around $110,000, Bitcoin has cooled off and is now testing support at the 26-day EMA. The price has slipped to around $106,000, with several red candles signaling a short-term pullback.
However, a long lower wick on the latest daily candlestick hints at renewed buying interest. This doji-like pattern is often seen at potential reversal points, suggesting sellers may be losing strength as buyers step back in.
If this support holds, Bitcoin could stage a rebound and retest the $110,000 level soon — potentially even pushing higher. On the flip side, if the 26 EMA at $104,000 fails, a deeper correction toward the 50-day EMA around $95,000 is likely. This kind of pullback could help flush out weak hands and lay a stronger foundation for the next leg up.
For now, the emerging reversal candle offers hope that Bitcoin’s bullish trend remains intact, but the next few sessions will be critical. Traders should watch for confirmation through both price movement and volume around the 26 EMA.
Ethereum Faces a Crucial Decision Point
Ethereum is trading within a narrow ascending channel, gradually pushing prices higher. While this might seem bullish on the surface, the pattern is starting to look like a trap.
ETH is currently priced around $2,690, with resistance near $2,850 and support around $2,500. Despite the slow upward movement over the past few weeks, declining volume is casting doubt on the sustainability of the trend. Falling volume often signals waning trader confidence and weak momentum — a warning sign that the channel may soon break.
If Ethereum drops below the channel’s lower trendline, a move down to $2,400 is plausible. Failing that, $2,100 could be the next significant level of support.
On the upside, a clean breakout above $2,850 might signal renewed strength and a potential trend reversal. The broader picture is also important: ETH is still recovering from a prolonged downturn, and the 50 and 100 EMAs are beginning to compress, reflecting market indecision.
Ethereum is at a turning point. Whether it breaks upward or downward from this channel will likely determine its next major move. Traders should keep a close eye on the critical resistance and support levels in the coming days.
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