💥💥💥 Shiba Inu ($SHIB ): What's Happening? Is This Bitcoin ($BTC ) Resistance Unbreakable? Ethereum ($ETH ) On Verge of Fundamental Crisis?
Shiba Inu Stuck in Trading Range:
- Shiba Inu (SHIB) is currently priced at $0.0000134, stuck in a stagnant trading range. It’s struggling to break key resistance levels at $0.00001813 (200-day EMA) and $0.00001597 (100-day EMA). A breakthrough could trigger an upward trend, but a drop below $0.00001200 might lead to a deeper correction. Low trading volume reflects cautious market sentiment as traders await a clear direction.
Bitcoin Faces Strong Resistance:
- Bitcoin, priced at $59,545, is facing strong resistance at the 50-day EMA around $61,000. Despite multiple attempts, it has failed to break through, signaling weakening momentum. This could trap Bitcoin in a narrow trading range, with reduced trading volume and a complex market environment adding to the uncertainty.
Ethereum's Declining Transaction Fees:
- Ethereum's current price is $2600, with transaction fees at a five-year low, raising concerns about its economic model. The burn rate has decreased, leading to a 0.59% annual supply growth, potentially undermining Ethereum's deflationary value proposition. Lower fees could weaken validator incentives, threatening network security and stability. Addressing these issues is crucial to maintaining Ethereum's market dominance.
Source - u.today
