The second largest cryptocurrency in market capitalization, Ethereum, demonstrates warning indicators, as it tries to restore stability above critical support levels. Currently, ETH is trading at about $ 1,960, sharply falling from a peak of about $ 4,000 earlier in this cycle. Technical indicators now indicate that a decrease below $ 1,000 may be inevitable for the first time in almost three years.
Since January, the price table constantly demonstrates a descending trend, and the ETH marking reduces the maximum and decreases. The bear pulse is additionally cemented by a recent rejection of the resistance range from 1850 to $ 2000. The fact that assets are currently traded below 50, 100 and 200-day EMA, which have turned into dynamic resistance zones is even more connected.
The growing pressure on sale is indicated by the relative force (RSI) index, which is soared close to the resold territory. Although there were short -term rallies, ETH could not establish a long -term bull impulse. The bearish tone of the market is additionally supported by voluminous spikes during recent sales.
ETH can check its long -standing psychological support of about $ 1,000, if the market conditions worsen, whether as a result of macroeconomic instability, a decrease in bitcoins or a general atmosphere of risk. Acceleration of panic sales can push ETH to deeper support levels from 800 to 900 dollars, if this level is violated.
The double scheme can be formed due to the fact that ETH has discovered a floor from 1,500 to $ 1,600. An effective rebound here can lay the path to rallying assistance to $ 2,000+, especially if it is accompanied by an increase in volume and a more total market recovery.
Shiba is remained stable
Short -term recovery can be possible because Shiba Inu demonstrates an amazingly high degree of stability, despite the general market uncertainty. The Shibe recovered with a growing impulse after teasing a break below decisive support at the level of 0.000011 US dollars, and currently it is trading at about 0.000012 US dollars.
This ascending movement can be the beginning of a change in the trend, which would be very important for the asset of memes. A significant increase in the volume that indicates an increase in the interest of investors and the resumption of demand at these lower levels is the most obvious sign of power.
The traders protecting this zone avoided a breakdown that could add another zero to the asset price, as evidenced by the growth of volume, which is often the leading indicator of the pulse in the case of Shib. Shib technically tests the resistance range from 0.0000124 to 0.0000130 dollars.
The movement above this area indicates a break from the local descending trend and can lead to levels of $ 0.0000155 and 0.0000171 US dollars, which are both surrounded by the levels of the sliding average. The relative force (RSI) index, which is currently trading a little less than 45 years after growth from the overestimated territory, also gives confidence in the bull argument. This change suggests that the mood improves without becoming excessively optimistic, which allows you to get more growth, not exhausting immediately.
The structure of the market will change significantly, and probably there will be more percent of the purchases if the Shib could advance above 0.0000130 to a large volume. If this is not done, this may return to support by 0.000011 US dollars, but a recent increase in force and volume indicates that the bulls are under control, at least at the moment.
Bitcoin on Crossroads
The market is waiting for a possible cross of death when Bitcoin stands at a technical intersection. The recent price action suggests that the worst can still be prevented. Bitcoin is currently faced with important sliding average, after he made a strong return below 78,000 US dollars and rises above $ 81,000.
In the classic cross-drawing of death, which traditionally indicates a bear Impulse, a 50-day sliding average approaches a 200-day sliding average over. However, the decision has not yet been completed. Bitcoin’s ability to restore a barrier of 85,000 US dollars is currently crucial. The bear crossover will be canceled, and this trend will show fresh strength if there was a steady move above this level.
Indeed, a breakthrough of this kind can change the market prospect, turning the cross of death from long -term confirmation of the descending trend into a possible bear trap. The fact that RSI has recovered from a reassembled territory and currently exceeds 43, which indicates an improvement in impulse and potential for further growth, supports a bull argument.
During the very last recovery, the volume also experienced a healthy surge, which is another positive sign of accumulation rather than distribution. Nevertheless, prudence is necessary. A repeated test in the zone of $ 75,000 or even below can be possible if the price of Bitcoin does not increase above $ 85,000, which would probably mean the death cross.
