The crypto market is experiencing fluctuations, with Ethereum declining from $3,700, Dogecoin facing resistance at $0.213, and Shiba Inu struggling to maintain support at $0.0000114.
-
Ethereum’s price is currently around $3,640, showing a healthy correction.
-
Dogecoin is at risk of dropping below $0.20, indicating a potential bearish trend.
-
Shiba Inu is trading at $0.0000121, facing significant resistance at $0.0000125.
Stay updated with the latest crypto market trends, focusing on Ethereum, Dogecoin, and Shiba Inu’s price movements.
| Cryptocurrency | Current Price | Resistance Level |
|---|---|---|
| Ethereum | $3,640 | $3,700 |
| Dogecoin | $0.20 | $0.213 |
| Shiba Inu | $0.0000121 | $0.0000125 |
What is the current status of Ethereum?
Ethereum is currently trading at approximately $3,640, having recently declined from the $3,700 mark. This decline is viewed as a healthy correction rather than a trend reversal, supported by low bearish volume.
How is Dogecoin performing in the market?
Dogecoin is facing significant resistance at $0.213 and is at risk of breaking below the $0.20 support level. The current market sentiment indicates a potential bearish trend.
Frequently Asked Questions
What are the key resistance levels for Ethereum?
The key resistance level for Ethereum is currently at $3,700, which it recently struggled to break through.
What should traders watch for in Dogecoin?
Traders should monitor Dogecoin closely, especially if it drops below $0.20, as this could indicate a bearish trend.
Key Takeaways
- Ethereum: Currently at $3,640, showing signs of a healthy correction.
- Dogecoin: Risks dropping below $0.20, indicating potential bearish trends.
- Shiba Inu: Trading at $0.0000121, facing resistance at $0.0000125.
Conclusion
The current crypto market shows fluctuations with Ethereum, Dogecoin, and Shiba Inu all facing critical resistance levels. Traders should remain cautious and monitor these levels closely for potential market movements.
-
The crypto market is experiencing fluctuations, with Ethereum declining from $3,700, Dogecoin facing resistance at $0.213, and Shiba Inu struggling to maintain support at $0.0000114.
-
Ethereum’s price is currently around $3,640, showing a healthy correction.
-
Dogecoin is at risk of dropping below $0.20, indicating a potential bearish trend.
Stay updated with the latest crypto market trends, focusing on Ethereum, Dogecoin, and Shiba Inu’s price movements.
Ethereum falls
Ethereum’s recent decline from the $3,700 mark is certainly unexpected, but the situation is not as dire as it might seem. Following a spectacular rally that saw ETH rise more than 35% in a few weeks, the asset encountered resistance just below the $3,700 mark. Today’s candle shows another decline down more than 2% with the price currently trading close to $3,640. The rejection formed a short-term descending trendline.
From a technical standpoint, this is certainly a correction. Luckily, there is not any actual bearish volume to support it. Throughout this retracement, volume has been continuously dropping, and the red candle that is forming today is a result of low participation. This is crucial because volume spikes — which are usually present during strong bearish reversals — are not occurring at this time.
Additionally, ETH is cooling off without entering oversold territory, indicating that the selling pressure is weak, as indicated by the RSI remaining above 57. This decline appears to be a healthy cooldown rather than a trend reversal due to the shallow volume profile. The price of ETH may rise rapidly if buyers intervene close to the 20 EMA, which is approximately $3,600, particularly if the overall state of the market stabilizes.
The subsequent push could easily bring ETH back to retest $3,700, this time with momentum, if it is able to break the descending resistance line. The 50 and 100 EMAs are located at the $3,300 and $3,100 levels, respectively, and should the 20 EMA fail as support, attention will turn there.
Dogecoin gets ready
There is no doubt that a break below $0.20 is imminent based on the price action of Dogecoin. DOGE has been steadily declining since reaching a high of about $0.29 in mid-July. The 50 EMA and 200 EMA clustered together at about $0.213, the most recent rejection creating a confluence of resistance that DOGE was unable to overcome.
The market’s reluctance to support DOGE at these higher levels is confirmed by today’s 3% decline. This is evident on the chart: declining volume, lower highs and a waning RSI momentum (now at 51) all suggest that DOGE is struggling. Not just technical noise, a decline below $0.20 would indicate the breakdown of a short-term support level and turn the psychological round number into resistance.
The next support is at $0.19 (100 EMA), and a stronger demand zone will be near $0.175 if DOGE drops $0.20 decisively. A move into that area seems very likely given the bounce attempt’s lack of volume commitment.
Waiting for a confirmed base to form before reentering the market is preferable if DOGE loses $0.20 and closes below it on the daily chart. Before acting, traders should wait for confirmation from the RSI dropping into oversold territory with a bounce or reversal candle. This market structure lacks the hype that DOGE has demonstrated can cause it to blow up. Expecting a continuous bleed is the more realistic course of action until sentiment changes or volume spikes in support.
