#Bitcoin: $118,367 is key; holding this level could restart the upward momentum
Bitcoin is at a crucial turning point, with the $118,367 area becoming the core battleground for bulls and bears. After a sharp decline from the $124,000 range, BTC has rebounded to near the 26-day moving average ($117,000-$118,000 range), which is a critical position: if held, it may become the starting point for a new wave of increases; if not, it may retrace to test the $115,000 support level, or even lower.
The good news is that trading volume did not surge during the pullback, indicating that selling pressure is weakening. This decline is more likely a short-term adjustment rather than a trend reversal. The RSI indicator is currently around 54, in a neutral to bullish range, and has not yet entered oversold territory. As long as buying interest rebounds, there is still room for an increase. The focus now is whether the price can hold above $118,367: if it breaks through, it may aim for $122,000 and above; if it fails, market sentiment could quickly turn, putting greater downward pressure on Bitcoin.
#Ethereum: $4,430 is solid as a rock, with a $5,000 target within reach
Recently, Ethereum has stabilized above $4,430 after a brief pullback from its high, and this rebound has greatly boosted buyer confidence. The market structure remains healthy, and the likelihood of breaking through $5,000 is increasing. From a technical perspective, ETH is firmly supported above the major moving averages with the support of the 26-day moving average, and the upward trend that began in mid-July continues — with higher lows indicating that the decline appears more like a short-term consolidation rather than a sign of a significant retracement.
However, it is worth noting that trading volume has significantly decreased during the recent rebound, which usually indicates weakened buyer confidence and could lead to a slowdown in short-term momentum or increased volatility. Overall, as long as ETH can hold within the $4,300-$4,400 range over the next few days, the probability of further increases is quite high. If bulls can maintain their momentum and trading volume rises, not only could $5,000 be tested, but it might even become a new support level; if weakness continues and trading volume remains low, more time may be needed for consolidation before breaking through.
#Shiba Inu: Four major resistances in the way, difficult to break through due to lack of 'volume' for upward movement
Unlike Ethereum, Shiba Inu (SHIB) is currently in a narrow consolidation, with no obvious upward momentum. If buyers do not increase their buying intensity, multiple resistance levels may directly block its upward path. The top three resistances all come from moving averages: although SHIB is currently slightly above the 26-day moving average (a key short-term support), this level has been breached multiple times recently; the 50-day moving average is just above the current price, historically having been a 'roadblock' for failed breakouts; the 100-day moving average presents a resistance that has been difficult to overcome in the medium to long term, with bulls having attempted multiple times without success.
The more troubling issue is that the downward trend line formed by recent high volatility continues to suppress prices, further reinforcing resistance. To regain upward momentum, SHIB must break through this trend line, but trading volume has been noticeably lacking in recent weeks, with insufficient decisive buying support. Even if it can overcome these four major hurdles, there is still the ultimate test of the 200-day moving average above — which typically marks the divide between bull and bear markets, currently positioned far above the current price and likely to become a ceiling for short-term rises.
