The market is struggling to find any significant support or bullish catalyst, so the Shiba Inu coin ($SHIB ) continues to slowly retreat toward a state of uncertainty. Currently, two critical price levels are showing up, $0.00001167 and $0.00001061, as the last barriers between full recovery and total collapse. After several breakdowns from higher exponential moving average areas, the level of $0.00001167 has become the last local support for the Shiba Inu coin.
It is essential to maintain a level above this threshold to avoid a sharp decline. However, warning signs are increasing, as the Shiba Inu coin has recently dropped below this level and is struggling to reclaim it. The level of $0.00001061, which is the next critical level, serves as the last bastion for the bulls.
The drop below this level will eliminate any chance of a swift recovery and may pave the way for the share price of #SHİB to a new zero level. The market structure indicates that SHIB will reach this point faster than most people expect if it cannot recover quickly. What worsens this bleak outlook is the sharp drop in trading volume. In the past, a decline in trading volume at support levels indicated a lack of buyer conviction. Every rebound attempt from SHIB has been weaker, with trading volume decreasing daily.
In these conditions, false breakouts and volatility driven by whales thrive. Additionally, technical indicators confirm the existence of pressure. Although the exponential moving average levels of 50, 100, and 200 have now become dynamic resistance, SHIB is still well below them. At around 35, the Relative Strength Index stabilizes, indicating a lack of buying momentum even in oversold conditions. SHIB must first reclaim the level of $0.00001167 and confidently stay above it with high trading volume if it wants to change its direction. If it falls below that, it is likely to test the level of $0.00001061; if unsuccessful, things will deteriorate quickly.
The price of $DOGE
A steady decline, failing to regain significant support levels, worsens the situation. The next critical support level is lurking near $0.16, currently hovering just above $0.17. The asset may experience further losses and return to the bearish pattern it has been in since late March if this level is broken. The sharp decline in trading volume also increases the downward pressure.
The trading volume has sharply declined since the peak in May, indicating that buyers are not as convinced. A strong technical structure and participation are essential for a bullish reversal, and both are currently absent. Another warning is that the Relative Strength Index is heading towards the oversold zone without showing any signs of bullish divergence. This means that the desire to accumulate funds is minimal, and any rises may not last long unless new catalysts emerge.
A strong warning from $XRP
The recent price behavior of XRP sends a strong warning to both traders and investors: a rebound may be on the horizon. After a bullish breakout, the inability of the asset to maintain momentum is a clear warning sign of a false breakout. XRP briefly jumped above significant moving averages and attempted to breach the resistance area at $2.27, as shown in the chart. However, the price fell below the exponential moving averages of 50 and 100 after losing momentum quickly and being strongly rejected.
This type of failed breakout often indicates a bullish trap, which is exactly what we are seeing now, especially when accompanied by a strong wick and increased trading volume. The critical signal in this case is the false breakout itself. Markets often test critical resistance levels to determine their strength, and a breakout that suddenly reverses indicates a lack of sufficient conviction behind the rise.
This indicates that XRP buyers were not prepared to maintain momentum, allowing short sellers to regain control. The decline in the Relative Strength Index, which has returned below the 50 level and indicates a retreat in bullish momentum, adds to the downward pressure. Other indicators of waning enthusiasm include trading volume, which has started to decline after a brief peak during the breakout attempt.
The next drop could be sharp if XRP fails to maintain the support level at $2.09 or the exponential moving average of 200. This level is now considered the last line of defense before a broader correction occurs. The recent price movement could be one of the most significant scams XRP has seen this year, paving the way for a larger correction unless the bulls intervene with substantial trading volume and quickly shift their direction.
