Shiba Inu’s recovery loses momentum
That recent bounce in SHIB seems to have fizzled out pretty quickly. I was watching the charts, and it looked like there might be some real recovery happening, but then the price just stalled near resistance and reversed course. It’s interesting how these meme coins can show such promise one moment and then completely lose steam the next.
From what I can see, SHIB tried to break out of that tightening consolidation pattern, but there just wasn’t enough buying volume to sustain it. The token is still trading below those important moving averages, and they’re still sloping downward. That tells me the bearish pressure hasn’t really let up. Every time there’s a rally attempt, selling interest comes in and pushes it back down.
I think traders need to be careful here. Without fresh buying power or a change in the overall market mood, SHIB could easily slip back into those previous support zones. And if it breaks below those levels, we might see another round of selling as long-term holders reassess their positions.
Ethereum builds gradual strength
Now Ethereum is showing something different. After that dip toward $2,000, ETH has started printing higher lows on the short-term charts. That’s a subtle but important shift. It suggests buyers are slowly taking back control, even though the overall market sentiment remains cautious.
What I notice is that this recovery seems more sustainable than some of the speculative spikes we’ve seen before. There’s consistent accumulation happening, and trading activity has picked up as ETH recovered from local lows. Market participants appear willing to absorb supply at these lower levels.
The technical picture is still complicated, though. Remember that double-top pattern that formed on higher time frames? That effectively ruled out a clean retracement toward prior highs. Many leveraged positions got wiped out during that correction. So this current recovery is starting from a reset market structure rather than continuing the previous bullish trend.
Still, the gradual upward movement suggests ETH might be entering a rebuilding phase. For a proper uptrend to emerge, the price needs to keep creating higher lows and eventually reclaim resistance levels near previous consolidation zones.
Bitcoin approaches key psychological level
Bitcoin’s recovery has been notable. After that local bottom around the mid-$60,000 range where panic selling was absorbed by strong buying interest, BTC has been pushing steadily higher. The $70,000 mark is within striking distance now, and traders are watching it closely.
Technically, Bitcoin is still below several important moving averages, which keeps the overall structure cautious. But the strength and speed of this recent bounce suggest the selling pressure from previous weeks is easing. If Bitcoin can achieve a daily close above $70,000, that would probably spark a new wave of bullish sentiment.
What’s encouraging is how the market responded to recent volatility. Instead of extending losses, Bitcoin quickly found support. That behavior often signals a shift from capitulation to recovery. Long-term participants might be accumulating rather than selling positions.
Of course, we should still expect fluctuations. Resistance zones above current levels could lead to brief pullbacks. But the current trajectory gives some reason for optimism. If buying pressure persists and market conditions stay favorable, Bitcoin could regain higher trading ranges in the coming weeks.
A confirmed break above $70,000 would support the idea that we’re seeing a stronger recovery and that the worst of the recent selling might be behind us. But I think it’s wise to watch how the market behaves around that level before making any strong conclusions.
