Major altcoins are displaying a broadly bullish bias, but momentum is cooling as prices approach key resistance zones. Hyperliquid (HYPE), Zcash (ZEC), Ethereum (ETH), and Shiba Inu (SHIB) are entering a phase of volatility compression that could trigger a decisive breakout — or a sharp retracement — within the coming hours.

Ethereum and Hyperliquid: Overheating Momentum Meets Resistance

Ethereum is consolidating below a major technical resistance following a sustained rally. The RSI on the daily chart is flirting with overbought territory, signaling a potential loss of steam among buyers. The MACD remains positive, but the convergence of its two lines points to fading short-term momentum.

Holding above the immediate support level is essential to preserve the bullish structure. A break below this floor would quickly open the door to a retracement toward lower levels. Conversely, a breakout above the current resistance would reopen the path toward more ambitious targets, potentially in the direction of the yearly ATH.

Hyperliquid (HYPE) is displaying a similar structure: price is evolving within a compressed range, a classic sign of an imminent volatility explosion. The RSI is stabilizing in neutral territory, leaving room for both a bullish and a bearish move. Traders are closely watching the upper resistance level as the trigger for a clear directional signal.

Zcash and Shiba Inu: Technical Compression Before a Decision

Zcash (ZEC) is going through a correction phase following a momentum peak. Price is testing an intermediate support level that is acting as the buyers’ line of defense. The MACD is showing an emerging bearish crossover, which increases the risk of a short-term extension of the bearish move should support give way.

However, the underlying structure remains constructive. A bounce from this support level could reignite a new rally toward the next resistance. Volume remains the decisive factor here: a bounce on low volume would be a weakness signal that should not be ignored.

Shiba Inu (SHIB) is evolving in a similarly compressed setup. The daily RSI is pulling back toward the midline after brushing overbought territory, suggesting a digestion phase is underway. The upper resistance represents a solid ceiling that SHIB has not yet managed to break convincingly, keeping the short-term bearish bias dominant.

Market Verdict: Breakout or Bull Trap?

The volatility compression observed across these four assets is a strong technical signal: a major directional decision is approaching. For ETH and HYPE, the bullish scenario remains in play as long as supports hold, with significant upside targets in the event of a confirmed breakout.

For ZEC and SHIB, caution is warranted. Momentum is eroding and indicators such as the MACD and RSI are sending mixed signals. A macro catalyst — particularly around US economic data — could be the trigger the market is waiting for.

In any case, risk management remains the top priority: false breakouts are common in these compression setups, and a return to support levels would be the first warning sign to watch before taking any directional position.