The Crypto Basic

#Bitcoin is testing key Bollinger Band resistance, with traders awaiting a breakout for bullish momentum or a potential retracement.
Bitcoin (BTC) has experienced some fluctuations in recent hours, with the price hovering just below the $90,000 mark. The chart shows a series of up-and-down movements, with Bitcoin briefly testing a high of around $90,159 before retreating below $89,500. This volatility came after a week marked by mixed signals in the market, as Bitcoin failed to sustain upward momentum despite positive developments in regional equities and a weakening U.S. dollar.
The price movements from the chart indicate Bitcoin’s ongoing struggle to break and close above the $90,000 resistance zone. Notably, Bitcoin’s price action over the past week has shown some significant volatility, with a decline of 6.4% in the last 7 days. On a 14-day basis, Bitcoin is down by 3%, further confirming the lack of a strong upward trend. 
Traders will now be looking for a breakout above $90,000 for further confirmation of bullish momentum or a possible decline.
Where is Bitcoin Headed?
In the latest 4-hour chart for Bitcoin, the price shows consolidation between the upper and lower bands of the Bollinger Bands. The price briefly tested the middle band at $89,704, indicating initial resistance. However, the first-born crypto has pulled back toward the lower band based at $88,302, signaling a possible lack of momentum to break higher.

If Bitcoin fails to breach the middle band and close above it, it could face a retracement to the lower band, representing immediate support. Traders will closely watch this range for any decisive price action.
In addition to the Bollinger Bands, the True Strength Index indicator shows negative values, with the blue line crossing above the red line. This confirms that bearish momentum has persisted but is shifting in the short term. For a bullish reversal to occur, the TSI would need to flip to positive territory. 
Overall, a break above the resistance level at the middle band could launch BTC to the upper Bollinger Band at $91,105.
Analyst Points at Potential $135,000 Surge
Looking elsewhere, analyst Trader Tardigrade recently pointed out on X that Bitcoin has been following a distinct Zig-zag pattern on the weekly chart. This pattern features alternating bullish and bearish movements, where upward rallies meet subsequent pullbacks, creating a back-and-forth movement.

Tardigrade suggests that if this pattern persists, Bitcoin could experience another surge following its current consolidation phase, potentially targeting higher levels like above $135,000. However, if the pattern continues to follow the expected course, a correction could follow, pushing Bitcoin back down to test support zones around $112,000. 
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#Cardano consolidates around a key support area but has faced severe selling pressure from a decisive resistance level above.
Attempts to reclaim this supply zone have proved abortive, with the support below keeping momentum alive. This consolidation may continue until Cardano prevails over the stronghold resistance, paving the path for higher prices.
Key Points
Cardano consolidates around a key support area in the mid-$0.30s but has faced severe selling pressure from a decisive resistance level above.Attempts to reclaim this 100-period SMA supply zone have proved abortive, with the support below keeping momentum alive.For Cardano to target higher prices, it needs to break above this 100-period SMA.A break above the 100-period SMA would open the way for a 2x rally for Cardano.
Cardano Sits at Major Support Zone
A bright start to the year was cut short when Cardano dumped violently from $0.428 on January 14 to the lows of $0.342 five days later. Meanwhile, the coin has stabilized around a key support in the mid-$0.30s, a TradingView analysis from CoinCodex highlighted.
The commentary noted that this support level has been the first to cushion selling pressure. Instead of ADA slowly correcting, as previously seen after a rejection, it has stabilized around the $0.35 support level.
However, CoinCodex emphasized that this does not suggest the bottom is in, just that market participants are beginning to digest earlier moves without emotion. The analyst added that dips into this supply zone are getting absorbed faster than before.
The recent market trend confirms this. Specifically, ADA has rebounded from its lows of $0.342 to $0.373 two days ago before retracing slightly to $0.360 at the time of writing.
Cardano Struggles with Higher Prices
Despite stabilizing at the current support, attempts to reclaim higher resistance areas have not yielded much result. The analysis highlighted that the $0.396 level, aligning with the 100-period simple moving average at the time, has repeatedly rejected higher prices.
Cardano fell below this indicator during the January 18 dip and failed to reclaim the area. Currently, the indicator stands at $0.388, 7% below the market price.
What ADA Needs to Do
Notably, the commentary highlighted that for Cardano to target higher prices, it needs to break above this 100-period SMA. According to the analyst, any upside move short of this would represent a relief rally, rather than a trend reversal.
However, the mid-$0.30 support is also crucial. As long as ADA keeps above it, then it can keep retesting new highs.
According to the analysis, a break above the 100-period SMA would open the way for a 2x rally for Cardano. A shared chart shows that the next major resistance lies at the 1.271 Fibonacci extension at $0.886.

It bears mentioning that this move remains highly speculative and based on analysis rather than an assured price prediction. As such, it is not financial advice.
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#XRP faces key resistance and support levels, with a breakout above resistance potentially signaling a directional move.
XRP has seen notable movement in the past day, changing hands at approximately $1.90 after experiencing a 2.7% drop. The price initially reached a high of $1.96 before descending to the lower end of its daily range, settling just above $1.90. The chart shows consistent downward pressure throughout the day, with XRP failing to hold above the $1.95 level.
Despite this recent decline, XRP has shown positive performance over a longer time frame. Over the past 30 days, the token has gained 2.8%, suggesting some degree of resilience amid the current retracement. However, the weekly performance shows a steeper drop of 8.2%. As XRP continues to experience intraday volatility, traders will be looking for key support levels to determine whether a reversal or continued decline is likely.
What’s Next for XRP?
XRP’s daily chart indicates bearish activity in the market, with the price fluctuating below the Parabolic SAR. For any strong trend to form, the price must break the Parabolic SAR resistance at $2.14, a crucial level that has provided resistance in the past.

Looking at the MACD indicator, the bars have transitioned to negative territory, which could signal a shift in momentum toward the downside. The MACD line is also trending below the signal line, a sign that bears have been dominant in the recent past. For any upward move to occur, the bulls need to flip the histogram to green and push the MACD line above the signal line.
If XRP manages to hold above its support at $1.86, breach the Parabolic SAR, and flip MACD bullish, a move toward $2.16 or even $2.35 could be expected. Alternatively, failure to breach the Parabolic SAR may lead to a retracement back toward the $1.80 support zone.
Next XRP Move to Occur Today?
Another analyst, Maxi, shared his perspective on X, stating that he believes the next significant move for XRP will occur today. This statement is in line with the technical indicators observed on the chart, where XRP appears to be testing a critical resistance level. 

As the price action consolidates near the trendline, there is potential for a breakout, which could signal the next directional move for the fifth-largest crypto by market cap. His chart shows a potential target above $2.50 if the breakout occurs.
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#XRP took off in the first week of the year on the back of renewed momentum from a fresh start and capital shift into the regulated products tracking the asset. However, this buzz has since stalled, and growing skepticism among market participants has weighed on the coin’s trajectory.
Key Points
Despite a strong start to the year, XRP has relinquished most of its gains.XRP started the year bullishly, soaring roughly 31% in six days to reach a high of $2.41.At the time of writing, the coin is trading at $1.91, down 20.7% from its January 6 high.The early January rally came amid strong inflows from crypto ETPs, suggesting renewed investor traction.However, macroeconomic uncertainties have reshaped XRP and the entire crypto ecosystem’s trajectory.Standard Chartered expects XRP to reach $8 by the end of the year, suggesting a turnaround from current consolidation.
XRP Cuts Back Earlier 31% Gains
TradingView data shows XRP started the year at $1.84. Notably, this marked a steep decline for an asset that started 2025 brightly and even reached a multi-year high of $3.67 six months back.
However, after ending 2025 bearish, XRP started 2026 on a bullish note, soaring roughly 31% in six days to reach a high of $2.41. This resurgence sparked optimism among enthusiasts, who lauded its outperformance over Bitcoin, Ethereum, and Solana. During this run, XRP reclaimed the third spot in the cryptocurrency standings by market cap (excluding stablecoins), flipping BNB.
However, like most other cryptocurrencies, XRP has given back a chunk of its gains. At the time of writing, the coin is trading at $1.91, down 20.7% from its January 6 high. When it dropped to $1.84 on January 19, the entire yearly gains disappeared before a rebound took its YTD increase to just 3.8%.
Major Events That Shaped Prices
Notably, the rally came amid strong inflows from crypto ETPs, suggesting renewed investor traction. Digital asset investment vehicles attracted over $1 billion in the first few trading days of the year, as retail and institutions seek exposure to the sector.
XPR spot ETFs saw inflows of $78.81 million in the first three trading days, building on their exploits last year. This influx, coupled with a broader market rebound, spurred the run to $2.41 early enough this month.
However, macroeconomic uncertainties have reshaped XRP and the entire crypto ecosystem’s trajectory. The chances of an interest rate cut dimmed as key data showed little progress, and delays to the CLARITY bill started to weigh on investor sentiment. While XRP weathered that uncertainty, Donald Trump played the tariff-hike card again, pushing the token below the psychological $2 price level.
What Comes Next for XRP?
Usually, macroeconomic setbacks of this nature are temporary, and analysts expect a rebound. Still, the four-year crypto cycle narrative would play a crucial role in steadying the market sentiments. If Bitcoin starts a supercycle as industry leaders have predicted, XRP could follow suit.
The market structure bill will also help sentiment. While prominent leaders are split on the potency of the current draft to deliver the regulatory clarity clamored for, many still believe it would have a significant impact on the sector’s adoption.
Additionally, XRP has received several recognitions as a payment alternative to legacy systems. If this narrative gains traction and drives further adoption, XRP could react positively.
For price outlooks, Standard Chartered has suggested that XRP would reach $8 by the end of the year, projecting a turnaround from current consolidation. Remarkably, this remains speculative, and nothing is certain in the crypto market, which is highly volatile.
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#Dogecoin shows potential for a bullish shift after breaking key resistance, but it needs to maintain support to avoid further downside risks.
Dogecoin (DOGE) has experienced a 1.5% decline in the past 24 hours, currently trading around $0.1257. The daily price range has fluctuated between a low of $0.1279 and a high of $0.1231, showing some intraday volatility. Despite the short-term decline, Dogecoin has exhibited a modest recovery, moving toward the middle of its daily range and currently consolidating in a straight line.
In the longer term, Dogecoin is facing persistent pressure, down 15.9% over the past 7 days and 15.3% over the past 14 days. Despite this, the coin remains heavily traded, with a 24-hour trading volume of $1.29 billion, up over 36%. Market participants will be watching closely to see if Dogecoin can maintain support or if it will reverse again to the downside.
Dogecoin Price Prediction
Dogecoin’s recent price action suggests some buying pressure after reaching key Fibonacci levels. The daily chart indicates that Dogecoin recently tested but fell below the 1 level at $0.1297. However, while heading towards the 1.681 level at $0.116, the price found support at $0.120 and is now aiming to retest $0.129. 

The Awesome Oscillator currently shows a negative value, indicating weakness in the buying momentum. For momentum to shift completely, the oscillator needs to flip green and retain the positive values.
The Fibonacci retracement levels are providing critical support and resistance zones. The 1 level now acts as the immediate resistance area during the recent price recovery.
If DOGE continues to find support around $0.120 and can break above the 1 level, a move back toward $0.134 and possibly higher toward the $0.140 level could be in store. However, failure to maintain the support could lead to a further test of the 1.618 extension at $0.11640, where the price could stabilize before making another attempt.
DOGE Sees First Bullish Divergence
Elsewhere, analyst Trader Tardigrade on X points out a bullish divergence signal in Dogecoin’s 4-hour chart, highlighting the first breakout from the previous downtrend. The chart shows that Dogecoin has broken above a key downward trendline, with the divergence in the price and RSI breakout indicating strong upward potential.

This breakout could signal the start of a more sustained bullish movement for Dogecoin, with traders now closely watching for confirmation.
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#shiba⚡ Inu shows further signs of correction, as weak price momentum has led to the formation of a bearish continuation pattern.
The pattern becomes visible following SHIB’s 5% drop yesterday, joining a broader market trend. Unless Shiba Inu regains momentum immediately, the bearish structure suggests a further price decline.
Key Points
Shiba Inu shows deeper signs of correction, as weak price momentum has led to a bearish continuation pattern forming.The chart formation shows a bearish continuation pattern, with prices experiencing a sharp decline, a quick pullback to retest previous support levels, and a subsequent sideways trend targeting lower demand zones.Unless Shiba Inu regains momentum immediately, the bearish structure suggests a further price decline to January 19 lows around $0.00000745 and possibly its late December lows around $0.00000682Shiba Inu could invalidate the bearish continuation pattern if it breaks above the Tuesday high of $0.00000815.
Bearish Shiba Inu Structure
For perspective, Shiba Inu dropped to $0.00000745 on January 19, as the heat of Donald Trump’s tariff war impacted the crypto market extensively. However, the meme coin showed resilience, recovering nicely to close at $0.00000814.
Nonetheless, the 1-hour chart paints a cautious picture. The quick rebound pushed the token to a notable supply zone around the $0.0000081 price region. Higher price rejection followed a push to $0.000008115 on Tuesday, as weak price momentum failed to conquer the resistance around the area.
Since then, sellers have been on top, pushing prices lower. Moreover, the chart formation shows a bearish continuation pattern, with prices experiencing a sharp decline, a quick pullback to retest previous support levels, and a subsequent sideways trend targeting lower demand zones.

What Does This Mean for SHIB Price
If Shiba Inu does not disrupt this structure, then it could retrace to lower prices. The chart shows a possible retest of its January 19 lows around $0.00000745. A much lower push could see the token consolidate to its late December lows around $0.00000682.
However, Shiba Inu could turn things around if it sustains ongoing recovery and breaks above the Tuesday high of $0.00000815. The move would invalidate the bearish continuation pattern and set SHIB up for higher prices. The first area that SHIB could reclaim in this scenario is the $0.0000084 level, where it started its January 19 correction.
It bears mentioning that these are likely scenarios based on technical analysis. The outlook does not favor one direction over the other, as both have equal chances of playing out. As a result, the choice of position is solely at your discretion, as this is not financial advice.
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The earlier upward momentum for the prominent meme coin #shiba⚡ Inu has decayed, pushing prices back to the yearly demand stronghold.
Shiba Inu (SHIB) dropped to the support level following its Trump tariff-inspired decline to $0.00000745 yesterday, in line with broader crypto market trends. While this has cut down the asset’s year-to-date profitability from 46% to 13.9%, it could be part of a broader bullish formation.
Key Points
Shiba has collapsed to the yearly support from which it bounced on January 1.The recent SHIB consolidation also aligns with a trend within a tightening descending channel on the weekly chart.Two scenarios are possible here: further decline to retest the wedge’s lower support trendline or a bullish reversal to target its neckline resistance.Further downsides will see SHIB retest multi-year lows, while reclaiming the channel’s neckline fuels the prospect of a breakout to retest multi-year highs
Shiba Inu Bullish Reversal Wedge Still Valid
Shiba has collapsed to the yearly support from which it bounced on January 1. The token held this higher-timeframe demand zone despite the abysmal performance in the last quarter of last year, underscoring its importance for subsequent price action.
Notably, the recent consolidation also aligns with a trend within a tightening descending channel on the weekly chart. Shiba Inu has remained trapped within this structure since its May 2025 high of $0.00001765, and multiple attempts to break free have failed.

The recent drop to the yearly support still aligns with the trend within the channel. Meanwhile, two scenarios are possible here: further decline to retest the wedge’s lower support trendline or a bullish reversal to target its neckline resistance. Each outcome depends on the prevailing momentum around Shiba Inu and the broader crypto market mood.
Specifically, further downsides will see SHIB retest multi-year lows. However, reclaiming the channel’s neckline fuels the prospect of a breakout to retest multi-year highs.
Lower Timeframe Confirmation
On the daily chart, this accumulation within the descending channel remains in place. The January 5 swing to $0.00001009 saw Shiba Inu make its closest reach for the upper resistance trendline since September 2025.
If Shiba Inu recovers from the recent price rejection and resumes another northward push, it could target the upper resistance trendline at $0.0000110. However, an opposite price trend may occur, and prices could continue to trend lower. 
Hence, this outlook is based solely on data and technical developments and provides no certainty, nor is it financial advice.
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#XRP must break above key resistance levels to trigger a bullish shift, while failing to do so could lead to a retest of critical support.
XRP is currently trading at $1.95, down about 0.3% in the last 24 hours. The price action has been relatively negative within this period, with a daily range between $1.94 and $2.02. The 24-hour trading volume remains significant at $2.84 billion; however, the volume has dropped 19.03%.
Over higher time frames, XRP’s recent performance has been a mix of volatility and a general decline, with a 5.5% drop over the last 7 days and 17.9% loss in the past 14 days. However, XRP has shown some resilience over the last 30 days, up by 1.6%, indicating that the asset faces near-term downward pressure.
Where’s XRP Headed?
On the technical end, the Bollinger Bands indicator shows the price is approaching the lower band, currently set at $1.8687. This could signal a potential reversal or at least a temporary support area, but the price is still clearly under pressure as it remains below the middle band around $2.0830.

Elsewhere, the Average Directional Index at 23.29 indicates that the market’s trend strength is moderate but moving to the downside. While this suggests some trend activity, the relatively low reading points to a lack of strong directional momentum.
Traders may need to wait for the price to either break above the middle band or retest support near the lower band to determine the next move. If XRP can break above the $2.08 level and hold above it, there may be potential for a bullish shift. Otherwise, failure to recover could bring further downside risk.
XRP Approaches a Bullish Cross
Per a recent chart by ChartNerd, XRP is showing potential for a bullish breakout in the coming weeks. The price is nearing a key level where it could break its descending resistance, forming a bullish cross on the weekly MACD.

If this occurs, it could signal the start of a strong upward movement, similar to the previous bullish cross that drove XRP to new all-time highs. As XRP approaches this critical juncture, market watchers are closely monitoring these indicators, with the expectation that a clean break above current resistance levels could lead to a surge in price.
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#Cardano could be following a well-structured bullish pattern, and its price action around two key levels would either confirm or invalidate this.
The recent price development for Cardano (ADA) mirrors a 1-2 wave in a broader Elliot Wave Theory structure. However, Cardano needs to reach an identified price level to confirm the structure and the end of the wave 2 correctional push.
Key Points
Cardano could be following a well-structured bullish pattern, and its price action around two key levels would either confirm or invalidate this.The recent price development for Cardano mirrors a 1-2 wave setup in a broader Elliot Wave Theory structure.The January 6 peak price of $0.43 was the first wave of the structure.Wave 2—typically corrective—started after the end of the early January bullish session, steering Cardano to drop to its January 19 low of $0.34.Cardano would confirm the Elliot Wave pattern when it breaks above $0.404, representing a 10% growth from here.ADA can also invalidate this Elliot Wave structure formation if it drops to $0.328. 
Cardano in a Valid 1-2 Wave Pattern?
Research firm More Crypto Online identified in its recent X post that Cardano is in a valid 1-2 wave pattern. An accompanying chart provides further context, showing what appears to be an Elliott Wave pattern on the 30-minute timeframe.

The chart labelled the January 6 peak price of $0.43 as the end of the first wave of the structure. For context, this first wave began at the $0.32 lows on December 31, 2025, spurring a 34% surge to the early January high.
Notably, the chart suggested that wave 2—typically corrective—started after the end of the bullish session. This has led Cardano to drop to its January 19 low of $0.34 before rebounding to its current market standing.
Confirmation and Invalidation Points
Furthermore, the validity of this formation remains in contention, and More Crypto Online has shared points to confirm whether it is actually an Elliott Wave structure in the works. The platform highlighted that Cardano would confirm this pattern when it breaks above $0.404.
Reaching this price level, which aligns with the lower high formation on January 17, would also confirm that ADA has formed the low for the wave 2 corrective phase. Nonetheless, the analyst also identified the potential for further correction to retest the $0.34 low, which aligns with the 78.60% Fibonacci retracement level.
Meanwhile, Cardano can also invalidate this Elliot Wave structure formation if it drops to $0.328. This would imply a decline below recent lows, a move that would further add pressure on ADA’s price.
If wave 2 forms completely, the next is a bullish wave 3 phase, which typically is the largest uptrend in the Elliott Wave Theory. However, this move remains speculative and would depend on several market conditions to materialize.
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The #Solana RWA ecosystem surpassing $1B in TVL the recent price stabilization signal potential for further gains if SOL maintains key support levels.
Notably, Solana (SOL) is currently changing hands at $143.08, a slight 1.0% decrease over the last 24 hours. The price range during this period has stood between $141.22 and $145.75, showing a relatively narrow daily activity.
Over the past 7 days, Solana has shown a positive 2.5% growth, and in the last 14 days, it has risen by 12.7%, which signals a solid recovery in the medium term. While the broader downturn suggests caution, the recent uptick in price might indicate that Solana is gearing up for further potential gains, assuming it maintains the support levels around $141.
With strong trading volume and a relatively stable price action, the key for Solana will be whether it can hold above the $141 support zone to avoid a deeper retracement. 
Solana Price Analysis
Elsewhere, the 4-hour chart reveals a bullish trend, with the price staying above the Ichimoku Cloud, indicating a positive outlook. The Standard Deviation indicator is at 1.87, which highlights the volatility around the price action. The declining value suggests that recent price fluctuations are becoming moderate, pointing to a more stable market in the short term.

Despite the overall bullish trend, Solana is encountering resistance near $146, and a possible pullback could occur if it fails to break this level. The Ichimoku Cloud support level around $140.48 is critical for maintaining the upward momentum.
As long as the price stays above this support zone, the bulls could attempt to push further toward $146 or higher. However, if Solana breaks below this support, a deeper retracement could be imminent.
Solana RWA Value Crosses $1B
Amid the price action, further data show Solana’s RWA ecosystem has surpassed $1 billion in TVL, reflecting strong growth alongside its price surge to $143. The chart indicates an upward trajectory, with the TVL steadily increasing from early 2025. 

This growth is crucial for Solana as it continues to expand its decentralized finance ecosystem, allowing for more tokenized assets to be integrated into its network. This growth is likely to drive further positive momentum in its price, potentially pushing it beyond current resistance levels.
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#Dogecoin faces resistance, but analysts predict a potential surge if key indicators align.
Dogecoin (DOGE) changes hands at $0.14 during this press, a 2.6% decline over the last 24 hours. The price has hit a low of $0.1388 and a high of $0.1449 during this period, indicating relatively moderate volatility in the short term. With a market cap of $23.56 billion, down 2.65% today, Dogecoin continues to hold a strong position in the market, despite the recent dip.
Over the past 7 days, DOGE has seen a slight increase of 0.4%, while in the last 14 days, it has gained 8.8%. Despite the recent pullback, Dogecoin’s support level of $0.139 appears to be holding steady. If DOGE can maintain its position above this lower end of the daily range, it may be poised for a recovery in the coming days. Will DOGE recover?
Can Dogecoin Hold $0.139?
The 1-week chart analysis for Dogecoin shows that while the price is currently at $0.1396, it faces significant resistance as the Parabolic SAR sits above the price action at $0.257. This placement suggests that DOGE’s upward movement faces limitations at the moment, and for further gains, the price will need to reach and break through the SAR level.

The indicator’s presence above the price line indicates that a bullish continuation is unlikely until this resistance gives way. If Dogecoin can break this level, the next key resistance to test would be around the $0.15 level, which had previously capped upside moves. A successful breach of this level could pave the way for further upward momentum, potentially pushing DOGE toward $0.16 or higher.
Elsewhere, the MACD histogram and line provide additional insights, as the MACD line is still below the signal line, suggesting that momentum is still bearish. The histogram remains red, further confirming the current lack of buying strength. 
For DOGE to experience a strong rally, the MACD line must cross above the signal line, and the histogram must turn green, signaling a shift towards positive momentum. Without these key technical indicators aligning, DOGE’s price may continue to face downward pressure, possibly testing levels like $0.11. 
Can Dogecoin go to $9?
On the social media commentary side, Trader Tardigrade, an analyst on X, highlighted that Dogecoin’s RSI has recently retraced, setting the stage for a potential massive surge. As seen in the 2-week chart, the RSI has followed a similar pattern to previous cycles.

Previously, it first surged to overbought levels, then formed two consecutive peaks, followed by a retracement to lower levels, and then rebounded.
If this formation works out, it may lead to a substantial upward movement for DOGE, potentially reaching levels like $9. To reach a price of $9 from the current price of $0.14, Dogecoin would need to increase by approximately 6328%.
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#shiba⚡ Inu must hold above the middle Bollinger Band support to reverse the current price action.
Shiba Inu (SHIB) has experienced a 2.3% decline in the last 24 hours, with the price fluctuating between $0.000008497 and $0.00000899, reflecting moderate volatility during this period. The price has shown some retracement from the recent peak of $0.0000091 seen on Jan 13. Despite the decline, SHIB is holding just below the mid-range, suggesting potential support around current levels.
In terms of broader performance, SHIB has underperformed compared to both Bitcoin and Ethereum. Specifically, Shiba Inu has fallen 3.6% against BTC and 2.1% against ETH over the past 24 hours. Despite the recent underperformance, Shiba Inu remains closely watched by traders, as its next move could determine whether it finds support.
Can Shiba Inu Hold Above Key Support?
The daily chart for Shiba Inu shows the price attempting to stabilize after a prolonged downtrend. SHIB is currently trading above the middle Bollinger Band, the 20-day SMA, which often acts as a short-term equilibrium zone.

This level, placed at $0.00000825 could offer support for a potential bounce. Shiba Inu needs to hold above it to maintain its bullish structure and potentially push higher, which could lead to it testing the upper Bollinger Band. For context, SHIB remains capped below the upper Bollinger Band at $0.00000971. 
Elsewhere, volatility conditions remain moderate. The Bollinger Bands had widened during the prior surge that pushed SHIB to $0.000010, reflecting increased volatility, but are now beginning to compress, which may indicate a period of consolidation. 
Meanwhile, the Average True Range has recently declined, showing that daily price swings are narrowing. This supports the view that SHIB is entering a cooling phase after heightened volatility, with traders waiting for SHIB to find support.
Shiba Inu Open Interest is Declining 
CoinGlass’ Open Interest chart shows a decline in the recent trading sessions. Notably, over the past several months, open interest has fluctuated in tandem with SHIB’s price movements, suggesting a relationship between speculative positioning and price action.

As seen on the chart, open interest peaked earlier this month, reaching over $145 million, but has since fallen back to $104.29 million. Ultimately, the drop in open interest in tandem with the price decline could signal reduced speculative activity and less confidence in the continuation of the uptrend.
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