Shiba Inu Faces Doubts Amid Declining Trading Volume
- Declining Trading Activity: Shiba Inu's trading volume has plummeted to just 438 billion tokens in the last 24 hours, a stark drop from trillions previously, indicating weakened speculative interest and exposing the token to downside risks.
- Weak Price Trajectory: SHIB's price has fallen below $0.0000042 and is trading under its 50-day, 100-day, and 200-day moving averages, suggesting that any potential rebounds will face significant resistance amid ongoing bearish sentiment.
- Unclear Market Dynamics: Despite continuous outflows from spot markets, erratic movements in the futures market indicate a lack of clear market direction, with both buyers and sellers failing to establish strong positions, resulting in persistently low trading volumes.
- Lackluster On-Chain Activity: Although exchange reserves are decreasing, typically a positive sign, there has been no corresponding increase in active addresses or total transactions, reflecting weak market participation, and Shiba Inu's recovery hinges on substantial improvements in both trading volume and price formation.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 2 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1239.263 | 1375.632 | 1503.043 | 1639.412 | 1766.823 | 1903.192 | 2030.603 |
| Fibonacci | 1375.632 | 1476.396 | 1538.648 | 1639.412 | 1740.176 | 1802.428 | 1903.192 |
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