• Ethereum stays below
• Pressure on Bitcoin alleviates

After being under constant selling pressure for weeks, Shiba Inu is beginning to show early indications of recovery. Buyers are stepping in around recent lows and pushing the token into a modest recovery phase, according to recent price action, which indicates that SHIB is starting to gain momentum.

Short-term trends suggest that SHIB may be gaining some significant meat, as trading activity and buying interest start to pick up, even though the overall trend is still cautious. SHIB's price stabilized and swiftly recovered after a steep drop that sent it to multimonth lows, forming higher intraday lows and slowing the selling pace. 

Recent upward attempts have also seen an increase in volume, which is frequently an indication that market players are actively reentering positions rather than passively observing them. This change implies that following a protracted decline, at least some traders view the current price levels as desirable entry points.

Technically speaking, the larger downtrend has not yet completely reversed because SHIB continues to trade below longer-term moving averages. But momentum indicators are rising from oversold situations, and instead of continuing to decline, the price is now trying to consolidate. Should buyers persist in protecting the present zone, SHIB may progressively advance toward recovering adjacent resistance levels that served as support in the past.

The state of the larger cryptocurrency market still affects SHIB's trajectory, and any fresh deterioration in Bitcoin or other significant altcoins may impede attempts at recovery.

Following a painful decline, Shiba Inu now seems to be getting stronger. If momentum keeps increasing, the token may quickly recover, demonstrating that the most recent recovery move is more than a passing fad.

Ethereum stays below

Recent price action disrupted what many traders saw as a confirmed continuation breakdown, and Ethereum may be displaying early indications that the most aggressive bearish expectations are starting to wane. After a protracted sell-off, ETH fell below $2,000 before making a sharp comeback, regaining ground and compelling a reevaluation of the current bearish outlook.

Before the recovery, Ethereum seemed to be finishing a collapse from what appeared to be a failed double-bottom pattern. A failed double bottom is usually regarded as a strong bearish signal. Buyers who anticipate a recovery are often forced to leave when the price forms two lows and then breaks beneath them rather than reversing upward, which frequently results in significant liquidation.

Buyers swiftly intervened, pushing the price back above the breakdown zone rather than continuing downward. In addition to indicating that sellers may have run out of short-term momentum, this action effectively weakens the bearish continuation setup. The rebound's increased volume also suggested that market players were prepared to withstand selling pressure at reduced prices.

Momentum indicators, which had been severely oversold, are starting to level off, which lends credence to the notion that ETH might go through a period of consolidation or recovery instead of further declining.

The overall technical picture is still not entirely bullish, though. The market needs to recover higher levels before confirming a more robust reversal, as Ethereum is currently trading below significant moving averages that serve as resistance. The price may still return to lower zones if there is no consistent follow-through.

The main lesson for investors is that, for the time being, the feared bearish cascade associated with the failed double bottom has been nullified. If ETH maintains its reclaimed levels, the market might enter a stabilization phase, which would allow buyers to regain their confidence.

Pressure on Bitcoin alleviates

Following a lengthy decline that sent the asset plummeting, Bitcoin is still under a lot of selling pressure after quickly breaching multiple technical support zones. The overall trend continues to show a stressed market, with prices declining from recent consolidation ranges toward much lower levels, as the appetite for risk in the cryptocurrency space is still low.

Bitcoin did, however, produce a noteworthy local bounce following a sudden spike in trading activity amid the ongoing decline. According to market data, a volume spike of about $50 million occurred during the most recent sell-off phase, which stabilized price action and led to a brief recovery. This spike in liquidity indicates that aggressive buyers intervened to absorb panic-driven selling, which at least momentarily stopped the downward trend.

Markets that become significantly oversold frequently experience these volume-driven bounces. According to momentum indicators, Bitcoin recently moved into extremely oversold territory, which creates an environment in which even light buying pressure can lead to significant short-term recoveries. In this instance, a relief move was sparked by the volume injection, which helped Bitcoin recover some of its recent losses.

Whether this bounce is the start of a more robust recovery or just a stopgap before another leg down is the crucial question at this point. Bitcoin needs to make a higher low and retake adjacent resistance areas that recently changed from support to resistance during the breakdown in order for a proper recovery scenario to occur. Once the current bounce weakens, sellers might regain control if that structural improvement does not occur.

Therefore, rather than seeing the recent move as a confirmed reversal, investors should see it as a possible chance for stabilization. The $50 million spike might be the starting point for a more extensive recovery attempt if more volume keeps coming in and the price stays above the recently established support.

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