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Shiba inu has been on a downtrend, facing increasing pressure as it approaches a significant support level at $0.000019. This level, last seen in October 2024, represents a critical point that could either stabilize the asset or lead to further declines.
The asset’s price is struggling to gain momentum, trading below its key moving averages, including the 200 EMA. This weakness, coupled with low trading volume, left the shib vulnerable to further declines. Investors appear to be losing interest as the hype surrounding the token wanes, leaving Shib dependent on a key support level to avoid a deeper correction.
If Shiba inu Holding above the $0.000019 support, it could signal a potential reversal. A successful defense of this level could attract buyers, pushing the price towards the $0.00000022 and $0.000025 resistance zones. This rebound would restore some confidence in the asset, offering hope for a near-term recovery.
Recovery would likely depend on renewed interest from the broader market and increased volatility, which Shib historically thrives on. Without these factors, a rebound may lack sustainability.
If Shib fails to hold above $0.000019, the price could decline significantly, potentially targeting $0.000015 or even $0.000013 as the next support zones. Such a decline would highlight the token’s inability to maintain critical levels, further eroding investor confidence.
In this scenario, Shib could face challenges in regaining its position in the Meme Coins market, especially as competitors exhibit stronger resilience and performance.
Can Dogecoin Shift Be Next?
MastiffThe price movement signals a potential shift as the asset faces notable pressure in its moving averages. This convergence of key indicators often precedes increased volatility, which could strengthen Doge’s current position or introduce new challenges for the asset.
Doge is trading in a narrowing range, supported by an ascending trendline. However, as the 50-day and 100-day EMAs get closer, the asset is captured in a squeeze zone. This squeeze generally reduces short-term volatility, but as indicators tighten, it sets the stage for a breakout or imminent breakout.
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The price remains above the critical support level of $0.315, which served as a safety net during previous corrections. The 200-day EMA, located further below at $0.256, remains a key level to watch if Doge fails to maintain its current trajectory.
The compression of the moving averages signals the potential for a sharp move in either direction. If DOGE manages to break, it could test resistance levels near $0.380 and potentially extend gains to $0.400. Such a move would likely reignite interest in the asset, driving volume and momentum.
On the other hand, a failure to hold the ascending trendline could result in a breakdown, pushing Doge below $0.315 and towards the 200-day EMA. A violation of this support would indicate a loss of bullish control and could result in a more prolonged decline.
Ethereum’s Breakout Potential
Ethereum is currently showing signs of a potential breakout as its volatility compresses, signaling that a significant price movement could be on the horizon. This volatility compression, highlighted by the convergence of key moving averages, often leads to decisive price movement in either direction, giving traders a reason to keep a close eye on the asset.
Eth is trading within a tightening range, with the 50-day and 100-day EMAs gradually approaching. The current price level around $3,940 is just below a descending trendline, which has acted as resistance since mid-November. The compression between these key indicators suggests the possibility of increased volatility in the near term.
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Critical levels to watch include immediate resistance at $4,000, which aligns with the descending trendline. A breakout above this level could see Ethereum test higher resistance zones around $4,200 and even $4,400, marking a return to bullish momentum.
However, if ETH fails, support at $3,700 could be the first line of defense. A breach below this level would likely see the asset revisit the 200-day EMA at $3,133, which has historically provided strong support during downtrends. If this level fails, a deeper correction towards $3,000 could be in the cards, further eroding the market.
Volatility pressure makes the next price action for Ethereum very unpredictable, but promising for traders. If Eth Passing between the descending trendline or facing a pullback, resolution of this squeeze is likely to bring substantial market activity. Investors should closely monitor these key levels and prepare for rapid moves that could define Ethereum’s trajectory in the coming weeks. For now, all eyes are on the escape.