The market's reaction is clearly mismatched with Bitcoin's growth.
As Shiba Inu approaches a key turning point, this asset may stabilize or continue to decline. Over the past two days, SHIB has failed to break through significant resistance, currently trading at $0.00001277. This level corresponds with the 26-day exponential moving average, which currently appears to serve as a strong resistance zone. The price action has not yet closed above the range of $0.00001336 to $0.00001390, despite multiple attempts to rise, as the 26-day EMA, 50-day EMA, and 100-day EMA remain closely intertwined.
Especially with the price being rejected by the 26-day EMA for two consecutive days, this strongly indicates that market participants are reluctant to bet on upward movements. The general indecision in the market is also reflected in this stalemate. The drop in volume this week suggests that both bulls and bears are less interested and less convinced.
However, a lack of momentum near key resistance levels often signals a market crash, especially when market sentiment or fundamentals have not improved. Since mid-May, the support level around $0.00001200 has held, which is currently the most concerning support level. If the rejection at the 26-day EMA is confirmed and selling volume rises, SHIB is likely to retest that support level.
Additionally, its structure indicates that it may be difficult to hold this time. Investors need to act cautiously. The 26-day moving average essentially acts as a ceiling, and under current circumstances, it is becoming unbreakable. In the absence of new capital inflows or strong macro catalysts, a deeper pullback is more likely.
Ethereum is about to arrive.
Ethereum is about to experience a major breakthrough; a strong surge could breach the $3,000 mark. ETH is currently trading at around $2,750, after breaking out of a narrow consolidation channel that lasted most of May and surpassing an important resistance area.
From a technical perspective, things look good. All major moving averages, including the 50, 100, and 200-day EMAs (which act as layered support below the current price), are well above Ethereum's current level. As ETH recently confidently reclaimed the $2,600 level and surged above $2,750, this foundation has strengthened the bullish sentiment.
Recently, the volume of bullish candles has slightly increased, indicating that buyers are entering the market with renewed vigor. The Relative Strength Index (RSI) is above 60, suggesting strong market momentum, but it has not yet entered the overbought territory. These indicators do not signal a peak but indicate that the market is warming up. Currently, the sentiment-driven resistance level is the only factor preventing Ethereum from breaking through the psychological barrier of $3,000.
Driven by general market optimism or catalysts such as ETF news or network updates, ETH's continued rise could easily push it to local new highs, as there are no significant technical barriers above the current levels. If the current support level around $2,600-$2,650 can hold, traders' next move should be a gradual rise to $2,900-$3,000. A pullback from this position may retest the support of the 200-day moving average, which is around $2,473. However, given the strengthening structure of Ethereum, this scenario seems unlikely now.
XRP remains unchanged.
From XRP's recent price action, an important conclusion is that it is stabilizing, with the $2 price level now beginning to form solid support for the asset. XRP is currently above the 200-day EMA, which is at $2.09 and has historically been a reliable support level during bullish transitions. At the current price of $2.24, XRP shows strong resilience. Long-term investors typically use the 200-day EMA to distinguish between trend continuation and breakout; this is not just a technical term.
Furthermore, XRP has shown significant resilience thus far. In early June, bears tested this level multiple times but failed to push lower. Instead, as XRP rebounded and re-broke above the 50-day and 100-day EMAs (at $2.25 to $2.26), buying interest significantly increased.
The RSI is in a neutral zone, indicating that the asset is in a pullback state rather than being overbought or oversold, while the volume remains stable. The view that $2 now constitutes structural support rather than merely psychological support is supported by consolidation above the 200-day moving average.
This changes the risk-reward profile, benefiting XRP, but what does it mean for investors? As long as XRP stays above the range of $2.09 to $2.10, a breakout is unlikely, and the chances of a rebound to higher resistance levels like $2.60 are greater.
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