Shiba Inu Price Trend:

Tap the avatar to live, join the live room for a chat!

Shiba Inu (SHIB) is currently in a technically tricky position, with its price oscillating between the 200 EMA at $0.00002122 and the 50 EMA at $0.00002284. Due to the technical pressure from these two important moving averages, SHIB is struggling to gain enough upward momentum, leading to uncertain market sentiment and a complex situation. Currently, SHIB is facing resistance from the 50 EMA, unable to break through, making it difficult for the price to move higher. However, the 200 EMA serves as a key support level, playing a crucial role in preventing further declines.

The narrow trading range reflects the market's hesitation about the asset's future direction, making SHIB traders' choices very limited. If SHIB can break through the 50 EMA, it may retest the resistance level of $0.00002400, suggesting a potential short-term rebound. Conversely, if the 200 EMA support is lost, the price could drop to $0.00002059, a level that has historically acted as strong support.

Additionally, SHIB's trading volume is relatively low, indicating that buying and selling pressure is not significant, and the uncertainty of trader sentiment is evident. Low trading volume further emphasizes the importance of the current price range. To facilitate a price breakout, SHIB needs more active participation from market participants. The RSI indicator hovers near the oversold area, indicating that selling pressure has eased, but without strong catalysts to stimulate buying, SHIB may continue to oscillate between these two moving averages without making a breakout.

Ethereum's Market Performance:

Ethereum (ETH) has risen to $3,415, and this increase may indicate that the market is recovering. Recent charts show a sustained upward trend, with market sentiment gradually turning optimistic. Ethereum has successfully rebounded from the key support level of $3,222, further consolidating the foundation for bullish sentiment. The current price trend suggests that bullish sentiment is still strengthening.

This recovery not only prevented a deeper pullback but also provides the potential for ETH to continue rising. The 50 EMA at $3,009 serves as an important safety net, while the 26 EMA provides short-term support, helping to maintain upward momentum.

Tap the avatar to live, join the live room for a chat!