Shiba Inu (SHIB) Death Cross Finalized, Dogecoin (DOGE) Forms Cup Bottom, Bitcoin (BTC) Trapped: What to Expect?

Shiba Inu (SHIB): Death Cross Signals Downward Trend

Shiba Inu's price chart indicates a bearish "death cross," where the 50-day moving average falls below the 200-day average. This technical formation suggests a sustained downward trend. With declining momentum and resistance at key moving averages, SHIB faces further price weakness.

The current price hovers around $0.00001620, marking a 4.71% drop. A recovery attempt was hindered by strong resistance, and despite moderate trading volume, institutional interest has waned, further slowing momentum. Market sentiment also heavily influences SHIB's price movements.

After the death cross, SHIB's reversal may be challenging. Past similar formations have led to prolonged price declines and recovery difficulties. Critical support lies around $0.00001400, and failing to hold above it could trigger a sell-off.

Dogecoin (DOGE): Cup Pattern Hints at Bullish Reversal

Dogecoin exhibits a developing 'cup bottom' pattern, a bullish reversal indicator. After a period of price decline, this pattern's rounded bottom and breakout suggest a potential momentum shift.

DOGE has recently dipped 3%, trading near $0.256. It consolidates around the 200-day moving average, a historically important level for reversals. Trading volume remains low, indicating investor observation.

A breakout above $0.30 could signal an upward rally, confirming a sentiment shift and potentially driving DOGE towards $0.35. However, weak buying pressure could lead to declines towards $0.25, invalidating the bullish pattern.

Bitcoin (BTC) in a Precarious Position

Bitcoin's price faces uncertainty amidst two critical moving averages. Trading near $95,903, Bitcoin struggles to break outside a narrow range. Resistance at $98,700 persists, while support at $93,562 holds firm.

Traders hesitate to commit to a trend due to Bitcoin's inability to move decisively. A break above $98,700 could lead to a return to $104,000 and potentially new highs.

However, a failure to hold support at $93,562 may see BTC fall to $90,000 or lower, exacerbating bearish sentiment. Given Bitcoin's current position between key moving averages, its future trajectory remains unpredictable.