Shiba Inu (SHIB) faces significant downward pressure, trading at $0.00001168 and potentially dropping to $0.00001050 due to lack of support and bearish market sentiment. XRP struggles to gain momentum, unable to breach resistance at the 26 EMA amid low trading volume and negative trends. Ethereum breaks below critical support levels, raising concerns of further declines towards $1,200 or lower as market conditions worsen.
Shiba Inu (SHIB) recently faced a decline, trading at approximately $0.00001168 without establishing a solid support level. The asset’s susceptibility to a downturn is high, potentially descending to $0.00001050. Currently, SHIB trades below key moving averages, indicating a persistent downtrend and bearish market sentiment. With a lack of buying pressure and a failed resistance breakout at $0.00001270, SHIB hovers precariously above $0.00001150, which is more a temporary pause than a stable support level. The market’s decreasing interest in meme coins exacerbates the likelihood of a downward trajectory, threatening to reach $0.00001000 or lower unless a significant reversal occurs, requiring market support or strong catalysts to challenge higher levels such as $0.00001500.
XRP continues to struggle against the bullish trends of the broader market, unable to gain ground amid persistent underperformance. Despite attempts to rise, XRP consistently fails to breach the 26 EMA, which acts as a staunch resistance. A downward trend is observable with descending resistance lines and lower highs, resulting in XRP lagging behind major market assets. The current RSI indicates a neutral state, reflecting lack of directional momentum, while low trading volume suggests trader apathy. This condition feels more like consolidation rather than the preparation for a breakout, indicating a broader market concern for XRP’s future, particularly as it may face further declines if unable to break above its 26 EMA.
Ethereum is breaking below a vital support level around $1,570-$1,600, signalling a troubling shift in market sentiment. Losing this critical zone, which has previously acted as a rebound area, raises concerns about a possible descent toward $1,500. Rejections from major moving averages further emphasise this bearish trend, reflecting ongoing selling pressure. Current volume trends show diminished buying interest, signalling a loss of trader confidence. With the RSI nearing oversold conditions, Ethereum’s next potential support might be around $1,200 or even $1,000, risking significant losses that could erase gains made since early 2023 if the overall market fails to stabilize.
