The cryptocurrency market is navigating a volatile phase, with Ethereum (ETH), Bitcoin (BTC), and Shiba Inu (SHIB) capturing attention due to sharp movements in price and technical setups. Ethereum is facing intense downward pressure, Bitcoin is showing signs of avoiding a bearish breakdown, and Shiba Inu is defying broader market weakness with unexpected resilience.

Ethereum, the second-largest crypto asset by market cap, is under heavy selling pressure as it struggles to maintain stability above psychological support levels. Currently trading around $1,960, ETH has seen a significant pullback from its previous high near $4,000 earlier in the cycle. The downtrend has been consistent since the start of the year, with the asset recording lower highs and lower lows — a textbook bearish setup.

Technically, Ethereum has broken below its 50, 100, and 200-day exponential moving averages, all of which have now become resistance levels rather than support. These moving averages forming a ceiling above the current price range add weight to the bearish outlook. Additionally, the Relative Strength Index (RSI) is nearing oversold territory, suggesting that sellers remain in control despite minor price recoveries.

Volume indicators confirm this bearish sentiment, with sell-offs often accompanied by increased trading volume. If Ethereum continues to lose ground, a retest of the $1,000 psychological support level could be on the horizon. Breaching that threshold may lead to a deeper drop, possibly towards $800–$900, especially if macroeconomic concerns or further Bitcoin weakness escalate market-wide risk aversion.

However, there remains a slim window for recovery. If ETH finds support in the $1,500–$1,600 zone, a double-bottom reversal pattern could form. Such a technical setup, paired with rising volume and broader market recovery, might ignite a short-term relief rally, pushing prices back above $2,000.

While Ethereum’s outlook is murky, Shiba Inu (SHIB) is exhibiting strength that’s catching market observers off guard. The cryptocurrency coin recently bounced back after testing support at $0.000011 and is now trading near $0.000012, showcasing resilience amid overall bearish sentiment. Increased buying activity and a spike in volume suggest renewed interest from investors, likely triggered by SHIB’s relatively cheap valuation at current levels.

This increase in momentum hints at a potential trend reversal. SHIB is currently challenging resistance between $0.0000124 and $0.0000130. A breakout above this zone, especially on strong volume, could open the door to higher targets at $0.0000155 and $0.0000171. The RSI, climbing back from oversold levels and hovering just below 45, adds to the bullish case, showing improving sentiment without signaling overbought conditions.

If SHIB fails to push through resistance, a fallback to $0.000011 remains possible. However, the strength of the current rally and bullish technical signs suggest that bulls have regained some control, at least in the short term.

Bitcoin, meanwhile, stands at a crucial technical juncture. After rebounding from below $78,000 to above $81,000, BTC is challenging key moving averages, stalling what appeared to be an imminent “death cross” — a technical indicator that occurs when the 50-day moving average crosses below the 200-day average, traditionally viewed as a strong bearish signal.

A continued move higher toward the $85,000 resistance level could invalidate the death cross pattern entirely. This would not only neutralize bearish sentiment but may also trigger a broader shift in market outlook, positioning the death cross as a potential bear trap rather than a long-term downtrend confirmation.

RSI has moved above 43, indicating growing momentum, while volume increases during the latest rally suggest buying interest and accumulation. However, if Bitcoin fails to breach the $85,000 mark, it could face another decline, possibly revisiting $75,000 or lower.

As Ethereum teeters near critical levels, Shiba Inu gains traction, and Bitcoin balances between breakdown and breakout, the coming days may define the crypto market’s next major move.