Altcoins News
By Julie Binoche
1 / 15
Momentum Fades After Overbought Rejection. The Relative Strength Index pulled back from overbought territory and is sitting near 53.
2 / 15
Exchange Reserves Rise, Selling Risk Builds. On-chain data isn't helping the bull case right now.
3 / 15
Shiba Inu can't hold a rally. The token slipped back under the $0.00000500 resistance mark after what looked, briefly, like a real breakout — and now sellers are back in charge.
4 / 15
Last week's move had some traders feeling good. SHIB pushed higher, broke out of its range, and generated the kind of buzz the meme-coin crowd lives for.
5 / 15
The Relative Strength Index pulled back from overbought territory and is sitting near 53. That's not a disaster reading, but it's not bullish either.
6 / 15
Long liquidations hit approximately $176,000 in recent sessions. Short liquidations? Just under $13,000.
7 / 15
Futures markets are showing caution too. Flows have turned negative over longer periods, which is a shift from where sentiment was sitting when the rally was building.
8 / 15
More context: The Canadian Dollar Slides as Oil Drops Below Key Levels Again
9 / 15
On-chain data isn't helping the bull case right now. Exchange reserves have ticked up slightly, meaning more SHIB is sitting on trading platforms and available to sell.
10 / 15
The increase in overall on-chain inflows runs in the same direction. More tokens moving toward exchanges, not away from them.
11 / 15
For bulls, the math is pretty straightforward. Reclaiming the 50-day moving average is the first real objective. Without that, the trend stays bearish by most standard readings.
12 / 15
But getting back above $0.00000500 is the actual test. The token has failed there, and resistance that's been tested and held tends to get stickier, not weaker, on the next…
13 / 15
Read also: Bitcoin Cash Stuck Below $200 as Sellers Dominate Every Rally Attempt
14 / 15
The spot market staying positive is maybe the one thing keeping this from looking completely one-sided. There's still buying happening.
15 / 15
Exchange reserves up, RSI fading, $176,000 in long liquidations cleared out — SHIB's first support sits at $0.00000465.
The Currency Analytics
Want the full story?