Shiba Inu holds $0.0000055 support as BTC slides 10%

SHIB struggles to maintain crucial support

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.

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.

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.

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.

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.

BTC nears oversold levels after $8,000 drop

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.

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.

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.

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.

NEAR tests its first major support

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.

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.

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.

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.

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.