Shiba

bullish

Bitcoin

April

Shiba Inu

<p>The cryptocurrency market has been experiencing sharp swings recently, with <a href="https://en.coin-turk.com/bitcoin-approaches-all-time-high-as-trading-volume-drops/" rel="noopener noreferrer nofollow">Bitcoin</a> undergoing a correction phase. At the same time, certain altcoins have stepped into the spotlight, particularly the meme coin <a href="https://en.coin-turk.com/shiba-inu-community-rallies-to-burn-tokens-and-boost-shib-ecosystem/" rel="noopener noreferrer nofollow">Shiba</a> Inu (SHIB) and Near Protocol (NEAR). Investors are keeping a close watch on key support and resistance levels across both major and alternative crypto assets.</p>
<h2 id="shib-struggles-to-maintain-crucial-support">SHIB struggles to maintain crucial support</h2>
<p>Despite heavy selling pressure in recent days, SHIB continues to search for a local bottom. The meme coin is hovering above an upward support line that has been in place since March, currently trading around $0.0000055. This support level has previously sparked significant rebounds, and its latest test is considered critical for determining SHIB’s short-term direction.</p>
<p>Technical analysis reveals that SHIB remains under strain. It is still trading below its 50, 100, and 200-day moving averages, with persistent selling momentum. The most recent rejection at the 100-day average triggered a fresh wave of selling, pulling the price down to the current support zone.</p>
<p>Nevertheless, a few indicators offer cautious optimism. The Relative Strength Index (RSI) has dropped to around 37, bringing SHIB close to the oversold threshold; such conditions have sometimes led to short-term recoveries in the past. Additionally, steady trading volume during the recent pullback suggests that there is no sense of panic dominating the market at this time.</p>
<blockquote>
 <p>Market experts note that if SHIB manages to stabilize above the $0.0000055 support, a reactionary move toward the 50 and 100-day averages could emerge. However, they caution that such a rally is unlikely to reverse the longer-term downward trend.</p>
</blockquote>
<p>Glossary: The RSI (Relative Strength Index) is a technical indicator ranging from 0 to 100 that evaluates whether an asset is overbought or oversold; values below 30 are considered oversold and above 70 are seen as overbought.</p>
<h2 id="btc-nears-oversold-levels-after-8-000-drop">BTC nears oversold levels after $8,000 drop</h2>
<p>Bitcoin, the world’s leading digital asset, has fallen over 10% from its all-time high of $82,000 and is currently trading near $74,000. The strong upward momentum observed in the previous rally has faded, prompting questions about whether this new correction wave might carry additional downside risk.</p>
<p>From a technical perspective, Bitcoin is now below its 50, 100, and 200-day moving averages. The previously optimistic trend, which began from the lows in April, weakened after a recent breakdown below its rising trendline. The RSI has dropped to 38, the lowest level in weeks, which in prior cycles has sometimes signaled buying opportunities—but does not guarantee a change in trend.</p>
<p>In previous rallies, Bitcoin found buyers near key support zones. The $72,000–$74,000 range is currently providing a critical floor, preventing a deeper decline for now. Should this support hold, a possible rebound toward the 50-day moving average at $76,000 and higher resistance levels may occur.</p>
<p>However, trading volumes have remained lower than during past surges. This suggests that major market players might be waiting for further confirmation before re-entering. According to analysts, Bitcoin’s ability to maintain support over the next few sessions will likely determine the near-term market direction.</p>
<table>
 <thead>
  <tr>
   <th>Asset</th>
   <th>Last Price</th>
   <th>RSI</th>
   <th>Critical Support</th>
   <th>50D Avg.</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>Bitcoin</td>
   <td>$74,000</td>
   <td>38</td>
   <td>$72,000–$74,000</td>
   <td>$76,000</td>
  </tr>
  <tr>
   <td>Shiba Inu</td>
   <td>$0.0000055</td>
   <td>37</td>
   <td>Current upward trendline</td>
   <td>—</td>
  </tr>
  <tr>
   <td>Near Protocol</td>
   <td>$2.25</td>
   <td>60+</td>
   <td>$2.20–$2.30</td>
   <td>$2.65</td>
  </tr>
 </tbody>
</table>
<h2 id="near-tests-its-first-major-support">NEAR tests its first major support</h2>
<p>Near Protocol has drawn attention in the altcoin space with a notable rally in recent weeks, but after a rapid ascent, it is now testing its first significant support. After climbing from $1.60 to $2.90, NEAR has found balance in the $2.20–$2.30 range.</p>
<p>Observers view this limited pullback as a healthy pause, especially considering NEAR’s strong run. Technically, NEAR remains above its 50, 100, and 200-day moving averages. The breakthrough above the long-term 200-day average is seen as a bullish signal for committed investors.</p>
<p>Trading volumes have increased compared to April and May, and the recent declines appear mostly driven by profit-taking rather than panic. The RSI remains above 60, suggesting that NEAR has moved away from overbought conditions, while still leaving room for further gains.</p>
<p>If NEAR consolidates its current support base, there could be opportunities for another move toward recent highs in the $2.80–$2.90 range. Sustained buying interest at these levels would indicate that this rally could be more than just a short-term move, possibly hinting at a longer-term trend reversal.</p>
<p>Glossary: Near Protocol is a scalable and energy-efficient blockchain platform designed for decentralized applications, founded in 2018. It is known for its high transaction speed and low fees.</p>
<p>The post <a href="https://en.coin-turk.com/shiba-inu-holds-0-0000055-support-as-btc-slides-10/" rel="noopener noreferrer nofollow">Shiba Inu holds $0.0000055 support as BTC slides 10%</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Shiba Inu holds $0.0000055 support as BTC slides 10%

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