Shiba Inu Nears Critical Support Level Amid Bearish Trend Ethereum Prepares for Golden Cross, Potential Price Surge Bitcoin Faces Downside Risk as Support Levels Weaken

Shiba Inu (SHIB) is currently experiencing one of its worst technical periods in recent history, with the asset perilously close to a fundamental support level at approximately $0.00001159. A breakdown below this zone could lead to a steeper correction, potentially pushing SHIB into territory not seen since early 2023. The situation is exacerbated by a steady decline in trading volume over the past several weeks, indicating a lack of interest from both institutional and retail players. This decline in volume, coupled with a price drop, suggests bearish exhaustion or abandonment rather than a healthy correction or reaccumulation.

The technical indicators for SHIB are equally bleak. The 50, 100, and 200-day Exponential Moving Averages (EMAs) have become solid resistance zones, with SHIB trading well below them. The declining slope of these averages confirms the current bearish trend, with no obvious indication of a reversal in sight. The Relative Strength Index (RSI) shows that SHIB is struggling to attract even short-term speculative interest, hovering in oversold territory without showing any discernible bounce. Unless SHIB can quickly recover above the $0.00001200 barrier and regain its 50-day EMA, more losses appear likely. The lack of a catalyst and the worsening technical picture, combined with a seemingly disengaged community, paint a grim outlook for SHIB.

Ethereum (ETH), on the other hand, is at a technical turning point, preparing for a possible golden cross—a bullish signal that could spark a significant price increase. A golden cross occurs when a shorter moving average, such as the 50-day EMA, crosses above a longer one, like the 200-day EMA. Ethereum's strong rally in May, rising from below $2,400 to almost $2,900, suggests a phase of healthy consolidation. The formation of a flag-like structure, supported by a technical trigger like a golden cross, could signal the start of another upward leg. The recent cooling of the BTC to ETH rotation indicates that Ethereum may be entering a phase of independent momentum, allowing it to determine its course based on its own technical positioning and fundamentals.

Support levels to watch for Ethereum include $2,460 and $2,375, which closely match short- to mid-term EMAs and may serve as launching pads if selling pressure increases. On the upside, a clear break above $2,800 would highlight the psychological level of $3,000 and likely attract new technical trader inflows. The current technical positioning of Ethereum suggests a potential for significant gains if the golden cross materializes and the asset can maintain its momentum.

Bitcoin (BTC) is currently in a precarious position, with traders watching for a possible decline below $100,000. The asset is trapped between thin bid support at $103,000 and liquidity at $105,000, with global macroeconomic tensions exacerbating market hesitancy and keeping volatility low. The $105,000 mark has proven to be a crucial turning point, serving as both psychological resistance and the location of significant sell-side liquidity clusters. Any persistent rejection from this sector could trigger a wave of bids that could eventually reach $103,000. The Point of Control (PoC), as indicated by the Fixed Range Volume Profile (FRVP), is at $103,000, further highlighting its significance as both support and resistance. If Bitcoin is unable to maintain above this zone, it faces a significant increase in downside risk.

The RSI for Bitcoin is neutral, indicating that neither bulls nor bears have a significant advantage. The likelihood of Bitcoin chopping or bleeding lower into support appears to be growing unless a clear catalyst surfaces. If $104,000 breaks convincingly, $100,000 becomes a brittle floor, if not a trapdoor, further increasing the downside risk for Bitcoin. The current technical picture for Bitcoin suggests a cautious outlook, with traders wary of the potential for a significant decline if support levels are breached.