Ethereum
Shiba Inu (SHIB) Poised to Reverse, Solana (SOL) Hanging on Edge, Ethereum (ETH) Lost $3,500
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Solana has been one of the most stable assets in the cryptocurrency market thanks to the movement above the $150 threshold. However, things are about to change given that it is barely holding on to the 100 EMA, which if breached will definitely result in a sharp decline towards the $130 price level which coincides with the 200 EMA and will act as a powerful buffer for the price. price.
Right away, Solana is barely holding on to the 100-day exponential moving average (EMA), which is an important support level. For this asset, 100 EMA has in most cases been the critical point where the price returns to the upside in case of a downtrend. Unfortunately for Solana, if this support is broken, then it could suffer a deep decline.
The next key support area lies around $130, which also coincides with the 200-day EMA. In technical analysis, the crossover point of the 200 EMA can be considered a horizontal support or resistance line. However, at this level, a strong pullback could take place, preventing further declines if Solana price reaches this level.
When the 100 EMA crosses, panic selling could accelerate towards the downtrend to reach the 200 EMA at $130.
The volatility of the Shiba Inu
Shiba Inu gradually regained value in the market, but unfortunately the asset could not maintain at the appropriate level and retraced dramatically, losing key support levels and then falling towards the 200 EMA, which is the level last resort support for the market. active.
In recent days, SHIB has struggled to hold on to its gains, facing significant downward pressure. It was helpless at critical support levels, causing a sharp decline. Due to this pullback, SHIB is moving closer to its 200-day exponential moving average.
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The 200 EMA often provides strong support in technical analysis, representing the average closing prices over the past 200 days. For SHIB, this is particularly important because it becomes the “last resort” support of the piece. If this level is exceeded by the asset, it will be considered to signify a longer downtrend which could lead to more declines.
The SHIB market has been divided into two factions regarding its sentiment. Some people, seeing this decline, consider it simply a small gap, while others are more cautious and believe that failure to maintain key support levels could indicate underlying weaknesses .
This recent price action is proving to be a classic retracement pattern after recovery efforts, indicating high volatility in the cryptocurrency sector.
Investors would be advised to follow the 200 EMA. A rebound from here could allow SHIB to reestablish new footing for its next upcycle. But a decline below such a threshold could lead to further selling pressure and a continuation of the current downtrend.
Ethereum about to lose it
Ethereum is on the verge of losing a critical price level at $3,500. This price threshold was not followed by any support level likely to “save” it in the event of a decline. Thus, we see Ethereum struggling at $3,479, with a downside risk, towards $3,300.
Ethereum price currently sits just above $3,300, and if the downtrend continues, this could be the next important support. This level coincides with the 200-day EMA, which is a long-term support line that traders often monitor. Failure by ETH maintaining this level could indicate a more pronounced downtrend.
Recent price action shows increased selling pressure on Ethereum. The asset’s inability to maintain 3,500 points due to market volatility and ETH issues. Investors now have their eyes on whether ETH will stabilize or continue falling towards the $3,300 support zone.
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Market sentiment around Ethereum remains, at best, provisional. Some traders are hoping there could be a change in fortunes, but immediate technical indicators suggest caution. The breakout of $3,500 without any strong support nearby is disconcerting and could prompt additional selling in case prices do not stabilize quickly enough.
Trading volume has also fluctuated widely, indicating mixed feelings among investors. If volume continues to increase sustainably at lower price levels, this could either signal panic selling or provide an entry point for new investors, who like to jump in when prices fall.