The post XRP Reaching Critical Support Level, Shiba Inu (SHIB) Breaches Yearly Price Foundation, Dogecoin (DOGE): Has It Begun? appeared on BitcoinEthereumNews.com.

Dogecoin’s state XRP key moment Shiba Inu has formally broken through one of its most important annual support levels, raising the possibility that its protracted decline will continue. After weeks of pressure, the asset is currently trading below the $0.00001230 level, a crucial historical support zone that has remained stable since the middle of 2023. The chart indicates that SHIB has tested this level several times in the last year, using it as a springboard for a number of relief rallies. The support that once provided a psychological safety net is now at risk of becoming resistance due to this recent breakdown. Longer-term moving averages like the 100 and 200 EMA still loom high above the current price, supporting the dominant trend, while the 26 EMA has curled downward once more, highlighting the short-term bearish bias. This move appears to be more than a low-volume fakeout or fluke, as the volume during the breakdown is consistent with previous sell-offs.  SHIB/USDT Chart by TradingView Though not sufficiently to ensure an instant recovery, the RSI is also moving in the direction of oversold territory. The next logical target, which has not been tested since October 2023, might be the $0.00001050 zone if SHIB is unable to promptly recover the compromised support. In addition, psychological zones such as $0.00001000 might be activated, which would further undermine confidence. When this critical threshold is crossed, sentiment is affected, in addition to technical structure. Support for SHIB, which depends on speculative interest and community fervor, might decline unless bulls quickly regain control.  Dogecoin’s state As the meme coin struggles to hold onto important support levels, Dogecoin has formally entered a critical breakdown phase, indicating the onset of wider bearish momentum. The price of DOGE is currently trading at about $0.164, breaking through the $0.183 zone, a…

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Filed under: News - @ April 1, 2025 12:20 am