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Ethereum has become unstable, teetering on the brink of instability. Recent price charts show a worrying situation. The 26-day exponential moving average (EMA), a key indicator of short-term momentum, is under threat. If this level is not sustained, Ethereum’s value could fall to $2,347, a scenario that could trigger a more pronounced decline.
This potential break below the 26 EMA is very important as it signals a weakening of buying pressure and a shift in market sentiment from accumulation to potential distribution. A break below this level would not only establish $2,347 as the next price floor, but could widen asset losses and lead to further bearish momentum.
The Ethereum ecosystem has faced its fair share of challenges despite the rise of Layer 2 networks, which have failed to fuel the expected rise. Similarly, the broader market has not shown the explosive bull market that many investors were expecting, and Ethereum’s trajectory reflects this subdued market energy.
Additional support and resistance zones can be collected from the chart. On the support side, after the $2,347 level, the next important support is located around $2,175.2. Once this breaks out, ETH is likely to test the psychological and technical support around the $2,000 level. Meanwhile, resistance is firmly established at the recent high of $2,547.6. This price point serves as a litmus test for Ethereum’s ability to rebound and regain bullish momentum.
Current market trends are characterized by cautious trading and a lack of definitive direction, placing Ethereum in a realm of uncertainty. Investors are advised to keep a close eye on these levels, as a break below or above them could signal the next important move for Ethereum.
Bitcoin in trouble
Bitcoin is at a precarious crossroads, teetering on the all-important $40,000 mark. Recent price movements paint a troubling picture for Bitcoin enthusiasts, with Bitcoin losing its grip on the 50-day exponential moving average, a key support level that has historically signaled bullish sentiment. There is.
The next potential foothold lies at the 100-day EMA as Bitcoin price struggles to sustain the $40,000 level. However, this level traditionally does not provide any real support, and a break below it could lead to a drop below $39,000, which could heighten market concerns. The chart reveals the next major support zone is around the $35,888 mark, a level that buyers may try to defend vigorously.
In terms of resistance, Bitcoin faces a major challenge at the $42,786 price level. Overcoming this resistance is critical for Bitcoin to regain stability and show potential for recovery. However, with trading volumes currently relatively low, the market lacks the liquidity needed to foster a strong rebound.
Shiba Inu gets beaten
The token is currently trading at local support levels, a situation that will dictate its near-term future. Anything below this point could be problematic, signaling potential decline and testing the resilience of the investor base.
SHIB’s current market environment is difficult, and the asset’s precarious position may be further exacerbated by the notable lack of growth catalysts and low liquidity in the broader crypto market.
But there is also a glimmer of hope. The decline in trading volume associated with SHIB’s price consolidation suggests that the bearish momentum may be weakening. This deceleration in selling pressure often occurs before the price stabilizes and can even reverse if the bulls regain control.
In terms of specific price levels, SHIB currently finds interim support around $0.000027. If this level does not hold, the next support zone will be around $0.000022, which could be another accumulation point for buyers. On the resistance front, SHIB faces a hurdle at $0.000035, which, if broken, could open the door to a retest of higher levels, possibly around $0.000040.