With Shiba Inu recently rising above the 100 EMA at $0.0000230, optimism around the meme coin has increased. However, this rebound is still insufficient to confirm the validity of a trend reversal. While this is a positive move, reclaiming the 100 EMA is not enough to alter the bearish sentiment that has dominated SHIB for weeks. A major issue hindering SHIB's recovery is the decrease in trading volume.
Despite the price increase, the lack of substantial buying interest indicates insufficient trader confidence. Typically, this discrepancy between price and volume suggests that the rebound is weak and may struggle to sustain itself in the long term. Breaking through the 200 EMA (currently a key resistance level around $0.0000250) is a necessary condition for SHIB to establish a significant trend change.
The asset may move towards the $0.0000300 range, and if it closes above this level, it would be a psychological barrier indicating strengthened bullish momentum. If SHIB fails to maintain its position above the 100 EMA, it may retest the support level of $0.0000205. The last line of defense for the bulls will be the 200 EMA below.
If these levels are broken, it may reignite bearish pressure and invalidate the rebound attempt. Although SHIB’s recent downtrend has been halted by a rebound, it is still too early to say that a complete reversal has occurred.
Currently, SHIB is at a turning point, and its future trend may determine the short-term outlook for this token. If trading volume remains low, traders should prepare for another pullback or wait for a breakout above $0.0000250 to confirm bullish momentum.
Solana makes a breakthrough
In the past few trading days, Solana's value has rebounded by 13%, achieving a significant recovery. However, there are signs that sellers are resistant, and the recovery is also cautious. The larger upper shadows on recent candlestick charts reflect significant selling pressure, indicating that bulls are struggling to maintain upward momentum.
SOL is currently trading close to $196, near the key resistance level of the 200 EMA. If it successfully breaks through this level, it could pave the way for further upside to $210, where more resistance exists. However, if it fails to break through these levels, it may lead to a pullback. The bulls' safety net is at $175, which corresponds to the level of the 100 EMA.
The candlestick shadows indicate increased selling pressure, suggesting market indecision. This could be a result of short-term traders taking profits or a lack of confidence in a long-term rebound. The visible descending channel in the chart increases the level of uncertainty, as SOL must confirm a trend reversal by clearly breaking above the upward trend line.
Volume remains moderate, but an increase in buying interest could drive a stronger rebound. Solana's short-term price trend depends on whether it can break through the $200-$210 range. A breakout at this level may signal the beginning of a longer recovery and could reach $230.
Ethereum recovery
Since Ethereum has rebounded from the key support level near $3,200, its recent price action has drawn attention. This recovery coincides with Ethereum regaining the 50 EMA, a key technical indicator often interpreted as a momentum turning point. After breaking this level, the likelihood of Ethereum advancing towards the key psychological resistance level of $4,000 has increased.
Ethereum has gradually declined before the rebound, testing its strength within the elastic range of $3,200. If ETH can maintain momentum, a bounce from this level would indicate the potential for a new bullish trend. The target for Ethereum is $4,000 as the next major obstacle, and breaking through $3,500 could be the next confirmation.
To continue this upward trend, Ethereum needs to first maintain its position above the 50 EMA and consolidate above $3,500. This indicates that market participants have regained confidence and buying interest. If these conditions are met, moving towards $4,000 is feasible, with additional resistance around $4,200. However, there are still risks.
If the 50 EMA fails to hold, a pullback to $3,300 or even $3,050 may occur. The bullish breakout for Ethereum would be delayed due to this move, which could also indicate an extended consolidation period. Whether Ethereum can break through important levels with strong volume support will determine its short-term trend. As the asset returns to a bullish zone, the ongoing recovery suggests that investors are closely monitoring it.
If Ethereum can break through $4,000, it may reignite market optimism and pave the way for new highs. The pace of Ethereum's next major move will depend on the direct support level at $3,300 and the resistance level at $3,500, so traders should pay attention to these levels during this period. The current outlook is cautiously optimistic.