Shiba Inu (SHIB): Mini Death Cross Formed, Dogecoin (DOGE) Plummeting Finally Stops, Bitcoin (BTC) Actually in Downtrend?

Shiba Inu Forms Mini Death Cross, Warning of Possible Bearish Momentum

A mini death cross has recently formed in the Shiba Inu (SHIB) price chart, indicating potential bearish momentum ahead. This technical event occurs when the 26-day exponential moving average (EMA) crosses below the 200-day EMA, suggesting short-term bearish sentiment. While not as heavily monitored as the 50-day/200-day EMA death cross, this crossover can signal the beginning of significant corrections.

Currently, SHIB is trading around $0.00001942, showing a slight rebound from its recent lows. However, resistance levels may hinder a breakout. The first resistance is $0.0000206, in line with the 100-day EMA. A stronger resistance level lies at $0.0000217, which SHIB must breach to reverse the downtrend.

On the downside, potential support levels include $0.0000180, $0.0000175, and $0.0000160. A break below $0.0000160 could lead to a more severe decline.

The mini death cross formation suggests that SHIB's recovery may be short-lived unless it can reclaim $0.0000217. Buyers must intervene to prevent a continued downtrend, which could lead to retests of $0.0000180 and below.

Dogecoin Stabilizes After Sharp Decline

Dogecoin (DOGE) has halted its recent downward trend, finding strong support at $0.33. The 100-day EMA has played a crucial role in containing further declines and keeping DOGE above bearish territory.

After an extended correction, DOGE has successfully broken above the 100-day EMA. This level has proven to be a key area of support, preventing sellers from pushing prices lower. The recent price action indicates that buyers have defended this region, potentially paving the way for a reversal or stabilization.

Currently, DOGE is trading between $0.33 and $0.34. However, it faces resistance at $0.35 and $0.36 to gain bullish momentum. Historically, Dogecoin has faced challenges in sustaining rallies beyond the $0.38-$0.40 resistance zone.

Despite the recent downtrend, the RSI indicator is stabilizing, suggesting a decline in selling pressure. Volume has also decreased, indicating a slowdown in bearish momentum. If DOGE can stay above the 100-day EMA, it could start a gradual recovery rather than continue its decline.

Bitcoin Faces Resistance

Bitcoin's price action suggests potential trouble as the cryptocurrency struggles to break through strong resistance levels. The recent lower high at $104,600, following the local peak of $109,459, technically confirms a short-term downtrend. A series of lower highs could raise concerns about further downside pressure.

However, Bitcoin remains firmly supported above several key levels. The 50-day EMA at $101,400 and the 100-day EMA at $92,464 continue to act as dynamic support levels. As long as Bitcoin trades above these supports, the situation remains stable.

Overcoming resistance at $104,600 is the main challenge Bitcoin faces. A clear breakout above this level would attempt to reclaim $109,459 and refute the downtrend argument.

If sellers maintain pressure, a retracement towards the 50-day EMA or even the 100-day EMA is possible. A retest of the $99,394 support zone cannot be ruled out.

Given Bitcoin's history of stability, a decline below this level could expose it to a more severe correction towards the 200-day EMA at $82,610. However, Bitcoin has significant support beneath it, so a total collapse is questionable unless the broader market conditions deteriorate. Technically, Bitcoin is at a turning point. If bulls regain control and push above $104,600, the outlook will turn bullish.