- Shiba Inu (SHIB) confirms a bearish death cross, signaling a potential continuation of its downtrend. If it fails to hold $0.00001400, further declines are likely, especially with weak trading volume and declining whale interest.
- Dogecoin (DOGE) is forming a bullish cup bottom pattern, suggesting a possible reversal. However, it must break $0.30 to confirm an uptrend, or risk falling back to $0.25 if buying pressure remains weak.
- Bitcoin (BTC) is stuck between key levels, with $98,700 as crucial resistance and $93,562 as key support. A breakout could push BTC to $104,000, while a breakdown may lead to $90,000 or lower, setting the market’s next direction.
The Shiba Inu (SHIB) price chart just locked in a death cross, and that’s not great news for the meme coin. A death cross happens when the 50-day moving average dips below the 200-day moving average—a classic signal that the downtrend is likely to continue.
SHIB has already been struggling to regain momentum, and with this bearish formation now locked in, things could get worse before they get better. The token is currently sitting at $0.00001620, down about 4.71% in the last 24 hours.
It tried to stage a small comeback, but resistance at key moving averages kept it in check. Even more concerning? Trading volume remains moderate, and major investors (whales) seem to be losing interest.
Can SHIB Hold Key Support Levels?
Historically, death crosses have led to extended downturns. If SHIB can’t stay above the $0.00001400 support level, a sharper decline could follow. There’s little sign of whale accumulation, meaning the recovery path is looking narrow. Unless volume picks up, SHIB might continue sliding downward.
Dogecoin (DOGE) Shows Signs of Reversal with Cup Bottom Formation
While SHIB battles bearish pressure, Dogecoin (DOGE) is shaping up for a potential breakout. A cup bottom pattern is forming—a technical setup often linked to bullish reversals.
DOGE has been on a downward spiral for weeks, but this pattern could be a game-changer. The token is trading at $0.256, down 3%, but it’s currently consolidating at the 200-day moving average—a historically strong level for reversals.
Key Resistance at $0.30—Can DOGE Break Through?
If DOGE manages to push past $0.30, the pattern would confirm an upward trend. This could drive the price toward $0.35 and possibly higher.
On the flip side, if buying pressure remains weak, DOGE risks falling to $0.25 or lower, invalidating the bullish setup. Volume levels will be crucial in determining whether this breakout can happen.
Bitcoin (BTC) Stuck in No Man’s Land—Breakout Incoming?
Bitcoin’s price action has been uneventful but tense, hovering in a tight range between crucial moving averages. Right now, BTC is trading at $95,903, stuck between strong resistance at $98,700 and key support at $93,562.
This lack of decisive movement has left traders on edge. If BTC pushes past $98,700, it could rally toward $104,000 and beyond. But failure to hold $93,562 could trigger a drop to $90,000 or lower, fueling further bearish sentiment.
Final Thoughts
- SHIB’s death cross spells trouble, with weak momentum and little whale activity signaling further downside risk.
- DOGE’s cup bottom formation hints at a possible bullish reversal, but it must clear $0.30 to confirm the uptrend.
- Bitcoin is trapped in a narrow range, with $98,700 as the key breakout level—a move in either direction will set the tone for the market.
The next few days could be crucial for all three assets as traders watch for key breakout and support levels.
