The risk of Shiba Inu falling below a historical support base of $0.00001159 exists as its trading volume declines in conjunction with dwindling trading activity by its investors.
Ethereum is getting closer to a golden cross, and it can further continue its current rally due to its good technical posture.
The limited liquidity and macro pressure of Bitcoin above $105,000 mean that $103,000 will be an important line to hold in the short term.
Shiba Inu (SHIB) is nearing a pivotal support level at $0.00001159 after weeks of steady price decline. This level has not been breached since early 2023 and currently acts as the last major buffer before a potential drop into lower territory. The recent downturn has been accompanied by steadily decreasing trading volume, signaling a reduction in both retail and institutional participation.
The drop in volume alongside price movement presents a troubling signal. Historically, such patterns suggest investor disinterest rather than healthy consolidation. The lack of buy-side activity reinforces the bearish outlook.
SHIB is also moving significantly below its 50-day, 100-day, and 200-day Exponential Moving Averages, which are currently major scenarios of resistance.
NIL TECHNICAL REVERSAL
Technicals still indicate a long-term downtrend. All the significant EMAs are negatively inclined. The Relative Strength Index (RSI) is in extremely oversold territory, and it is not oversold yet, the latest indicator of the lack of any purchase momentum. It required a quick jump above 0.00001200 to set the pulse pumping and overcome the threat of turning bullish in the short term.
In contrast to SHIB, Ethereum (ETH) is forming a more constructive pattern. ETH recently surged from below $2,400 to just under $2,900 and has since entered a sideways consolidation. The price action has formed a flag-like structure, typically associated with trend continuation. A golden cross formation, where the 50-day EMA crosses above the 200-day EMA, appears imminent.
Bitcoin (BTC) remains rangebound between $103,000 and $106,000. The area near $106,000 continues to show heavy sell-side resistance, while $103,000 marks a strong volume support zone based on the Fixed Range Volume Profile. The point of control at $103,000 remains key for short-term direction.
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