Shiba Inu is currently facing challenges, with its price stuck around $0.00001630, unable to cross the 200 EMA, a solid resistance barrier. This failure to break through is like a sword hanging over one's head, strongly indicating bearish sentiment in the market. Both the blue 50 EMA and the orange 100 EMA are on a downward trajectory, reflecting the continued low market sentiment in the short to medium term. SHIB is struggling to find support, especially above the 26 EMA, which further exacerbates its bleak outlook. If SHIB unfortunately loses the existing support, the next key defensive position will be $0.000016. Once this line of defense is broken, it may face a deeper correction.
Meanwhile, the RSI indicator hovers around 46, below the neutral 50 dividing line, clearly revealing the dominance of sellers, casting a shadow on SHIB's short-term trend.
On the other hand, the debut of Ethereum ETF has caused a stir in the industry and attracted a large number of institutional funds, but its actual driving effect on prices is far from satisfactory. Instead of driving Ethereum prices up as expected, the launch of ETF has triggered a "death on exposure" effect, with investors taking profits one after another, and the slowdown in the pace of new retail investors entering the market, which together constitutes a complex situation of price pressure.
Looking at Toncoin again, its fate is equally ill-fated. The price has fallen below the psychological barrier of $7 and is approaching the key support level of $6 guarded by the 100 EMA. Toncoin has had difficulty maintaining its previous optimistic trend recently, and the current trading price is hovering around $6.67, showing a weak willingness to buy in the market. The importance of $6.60 as the intersection of the 100 EMA is self-evident. Once it is lost, it may open a new round of downward channel. Although the RSI indicator is slightly above the neutral level, the reading of 43 still reveals a subtle bearish signal, indicating that Toncoin may not escape the decline in the short term. If the support of $6.60 is in danger, the next important support line will be $5.20. Whether Toncoin can stop falling and stabilize here will become the focus of market attention.
