Ethereum News Today: XRP Holds Above $3.00 as SHIB Bounces, ETH Near $3,800 Psychological Level

The cryptocurrency market has shown uneven momentum as XRP, Shiba Inu (SHIB), and Ethereum (ETH) each navigate distinct technical dynamics. XRP has stabilized above critical support levels, SHIB has rebounded from a sharp decline, and ETH remains poised near a pivotal psychological threshold. Analysts suggest these movements reflect shifting sentiment but caution that key resistance levels will determine whether optimism translates into sustained rallies.

XRP has found stability in the $3.10–$3.20 range following a correction from its recent high of $3.60. The asset remains above the 20-day, 50-day, and 100-day exponential moving averages (EMAs), while the 200-day EMA lags significantly below current levels. A relative strength index (RSI) of 61 indicates room for further gains without entering overbought territory. Notably, XRP has avoided breaking below the $3.00 psychological support level, which, if breached, could invalidate the current bullish structure. Reduced volume post-peak suggests the recent pullback is more of a breather than a reversal, and a breakout above $3.30 with fresh volume could confirm a continuation of the uptrend [1].

Shiba Inu’s recovery aligns with a classic bullish continuation pattern. After a sharp retracement pushed its price below the $0.0000145 resistance level, SHIB has rebounded to trade above the 50-day EMA and within a newly established support zone of $0.0000134–$0.0000136. This range, previously acting as resistance, now reflects renewed buyer interest, supported by an RSI of 53.63 and a modest increase in trading volume. A retest of the $0.0000160 local highs hinges on SHIB reclaiming the $0.0000145 level. Failure to hold above $0.0000134 would signal a deeper correction toward $0.0000126. The recovery follows a multi-month high retracement, positioning SHIB within a continuation pattern if broader market conditions remain stable [1].

Ethereum’s trajectory diverges from the broader market, maintaining stability near $3,800 despite widespread hesitancy in other cryptocurrencies. The asset has consolidated near its July peak without significant retracement, a pattern often linked to accumulation rather than distribution. All major EMAs remain upward-trending, and the 200-day EMA continues to provide support. While the RSI of 79.46 indicates near-overbought conditions, no clear reversal signals have emerged. A breakout above $3,800 with elevated volume could propel ETH toward the $4,000 psychological barrier. Unlike XRP and SHIB, Ethereum has shown minimal drawdowns during consolidation, suggesting persistent bullish pressure despite a slight tapering in volume linked to weekend trading pauses [1].

The interplay of these assets highlights a market at a crossroads. XRP’s stabilization above key EMAs and SHIB’s rebound from critical support levels indicate that bearish momentum is losing traction in specific corners of the market. Meanwhile, Ethereum’s resilience underscores its role as a bellwether for broader risk appetite. However, caution is warranted, as sustained breaks below critical thresholds for XRP or SHIB could reignite broader sell-offs. For ETH, the $4,000 level represents both a technical and psychological hurdle; a successful breakout would likely attract further institutional and retail attention.

Source: [1] [XRP: Game Over for Bears? Shiba Inu (SHIB) Bounces Back From Grave, Ethereum (ETH) Ready to Explode Past $4,000] [https://u.today/xrp-game-over-for-bears-shiba-inu-shib-bounces-back-from-grave-ethereum-eth-ready-to-explode-past]