The crypto market awaits a new momentum. Shiba Inu is on the brink of a decisive breakthrough, Ethereum poised for a bounceback, and Bitcoin flashing a strong bullish signal post recent dip. Stay tuned for today's technical analysis to predict upcoming key movements.
The memecoin SHIBA INU (SHIB) is showing clear signs of a bearish reversal. The psychological threshold of $0.000015 has been breached. Subsequently, the price suffered a decline of more than 5%. It’s dangerously approaching the 200-day exponential moving average (EMA 200), a crucial technical level.
A clear break below this EMA 200 would likely trigger panic among bullish investors, especially as buying volumes are weakening. Technical indicators, such as the RSI turning negative, confirm the fragility of the current trend. Without a quick bullish reaction, SHIB risks invalidating the gains accumulated over recent weeks.
The second-largest cryptocurrency, Ethereum (ETH) is experiencing a decline of more than 2% after reaching a local peak around $3,900. This drop comes with weakening volumes, a potential sign that the bullish impulse is ending.
With an RSI approaching the overbought zone and successive high wicks on the daily candles, the technical signals are deteriorating. If Ethereum fails to quickly defend the $3,600 and $3,000 levels, a deeper corrective phase could begin.
While SHIBA INU (SHIB) and Ethereum weaken, Bitcoin (BTC) displays impressive strength. Consolidating above $114,000 in a classic descending triangle formation, BTC shows generally bullish signals. With an RSI in a cooling phase and a protected 21-day moving average, breaking through the bearish trendline could propel BTC above the critical $120,000 zone. This would trigger a new FOMO movement among European institutional investors.
For experienced traders, the next day could reshape the crypto market configuration. Between anticipation, intelligent stop-losses and active management, vigilance is essential. Meanwhile, if you want to invest in any of these cryptocurrencies, we recommend using Bitget exchange : user-friendly and secure.
Passionate about the crypto world, he explores the blockchain ecosystem to extract the most essential insights. With his expertise in SEO and web writing, he transforms news and technical analysis into clear, engaging, and impactful content. His goal? To help investors better understand the opportunities and challenges of the crypto market.
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