The post Shiba Inu (SHIB) Death Cross Finalized, Dogecoin (DOGE) Forms Cup Bottom, Bitcoin (BTC) Trapped: What to Expect? appeared on BitcoinEthereumNews.com.

Shiba Inu’s daily chart has confirmed a death cross. When the 50-day moving average crosses below the 200-day moving average, it creates this technical pattern that signals investors about the continuation of the downtrend. SHIB is already having trouble regaining momentum, so this bearish formation points to more price weakness soon.  The current price of SHIB is around $0.00001620, down about 4.71% over the previous day. The asset made a small recovery attempt, but no significant breakout was possible due to strong resistance at important moving averages. Although trading volume is still moderate, institutional players and whales’ waning interest further supports the slowing momentum. The overall state of the market has a significant impact on SHIB’s price movement as well.  SHIB/USDT Chart by TradingView After the finalized death cross, SHIB might find it difficult to turn around its current trajectory. In the past, these formations have led to protracted price drops that are challenging to recover from. The next critical support is located around $0.00001400, if SHIB is unable to maintain above that level.  A decline below this level might hasten losses and cause more declines. The lack of significant accumulation from major investors indicates that SHIB has a narrow recovery path. The asset might keep declining until there is a noticeable volume recovery. This bearish outlook confirmed by the death cross means that SHIB will have a difficult time regaining its lost momentum.  Cup pattern to help DOGE retrace A traditional cup bottom pattern, a technical indicator frequently linked to a possible bullish reversal, is beginning to form on Dogecoin. After weeks of falling price action, this pattern — which consists of a rounded bottom followed by a breakout—indicates that DOGE may soon regain momentum.  DOGE has recently dropped 3%, and it is currently trading at about $0.256. On…

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Filed under: News - @ February 14, 2025 7:14 am