Bitcoin Faces $87,350 Resistance, Shiba Inu Struggles at $0.0000122, Dogecoin Loses Momentum at $0.155
2min read Bitcoin is currently experiencing a critical technical moment, with its price being squeezed between two important exponential moving averages. The cryptocurrency is trading at approximately $84,000, just above the 100-day EMA, and facing resistance from the 200-day EMA at around $87,350. This narrow trading range is creating pressure that could lead to a volatility-driven breakout in either direction. A break above the 200-day EMA would not only indicate bullish momentum but also invalidate the long-standing death cross that has hindered Bitcoin's midterm performance. However, if resistance is not overcome, there may be a rejection down toward the $82,000–$83,000 support zone, where the 100-day EMA currently provides a safety net. Below that, there is a chance that Bitcoin will lose steam and enter another period of consolidation or correction.
Shiba Inu is encountering a crucial resistance level as it approaches the 50-day exponential moving average (EMA), which is serving as a significant technical ceiling. Currently, SHIB is hovering around the $0.0000122 level, where it has faced significant resistance at the 50 EMA. The steep drop in volume is a prominent indication of waning market activity. The declining volume suggests that market participants are either sidelined or losing interest in the asset, which indicates a lack of conviction from both bulls and bears. Any attempt at a breakout, particularly above the 50 EMA, may not have the strength necessary to maintain upward momentum due to the declining volume. Shiba Inu’s medium-term structure continues to be defined by lower highs and lower lows, and the asset remains in a wider downward trend. The relative strength index (RSI) is in a neutral zone just below the 50 mark, offering no clear directional cue. Unless volume is restored and SHIB can confirm a close above the 50 EMA, the path of least resistance stays sideways or bottom.
Dogecoin, once a favorite among retail cryptocurrency users, is beginning to lose investor fervor as its price performance continues to deteriorate. Currently trading at around $0.155, DOGE is firmly stuck in a bearish trend. Since its last significant spike in late 2024, it has been unable to regain important moving averages and has been posting consistently lower highs. Technically, DOGE has not been able to surpass the 50-day exponential moving average (EMA), which is frequently used as a gauge of short-term momentum. With declining volume and deteriorating investor sentiment, the 50 EMA and 100 EMA resistance is proving to be too strong. The price has been consolidating at $0.145, just above the critical support level, but this support might not last long if there isn’t any significant volume behind it. The relative strength index (RSI) values are currently hovering just above the 40 mark, which is significantly below the neutral 50 threshold. This indicates that DOGE is still in bearish territory and lacks momentum. Investors are turning away from the meme coin as evidenced by the steady decline in trading activity. Dogecoin may continue to decline or stagnate in a narrow low-volatility range in the absence of fresh buying interest or a motivating event. DOGE would need to break and hold above the $0.165-$0.18 range in order to reenter bullish territory, ideally accompanied by a sizable increase in trading volume. Until that time, the asset is expected to continue its gradual decline.
