Zcash, Ethereum, Shiba Inu, Hyperliquid hover at key support levels after sharp declines

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Major cryptocurrencies hover at key support levels after sharp declines

Major cryptocurrencies such as Zcash (ZEC), Ethereum (ETH), Shiba Inu (SHIB) and Hyperliquid (HYPE) are facing critical support areas after experiencing significant declines. Traders watch these levels closely to determine whether there is a risk of a potential rebound or further losses.

Zcash (ZEC) struggles near key support levels

As a privacy-focused cryptocurrency, Zcash currently trades at $1,190, a sharp drop from its September high of $1,700. Prices have accelerated in the past week, failing to regain the $1,340 mark, and quickly slipping back to current levels.

As of now, ZEC is above the blue and cyan moving averages around $1,180, the area that defined the last major support level during the September rally. This area is significant for buyers looking to defend current trends. If ZEC closes below $1,180, analysts expect prices to fall to the $1,050-$1,100 range, which was the stabilizing position during the mid-September correction. A further sharp decline to the orange moving average of $960 or the distant support of $735 would reflect a deeper correction in the trend.

The momentum has weakened and the Relative Strength Index (RSI) has dropped to 40, its lowest level in weeks. Although overall trading volumes remain sluggish, buyers 're-engagement is needed to avoid a more severe decline. ZEC is at a decisive moment: Holding on to $1,180 could trigger a price recovery to $1,340, while a closing below $1,180 could well open the door for further declines towards $1,050. A daily close above $1,340 would indicate increased bullish momentum, while a close below $1,180 would strengthen the bearish outlook.

Currency Current Price September High Key Support Key Resistance RSI Zcash (ZEC)$1,190$1, 700$1,180$1,34040 Ethereum (ETH)$2,525$2,800$2,500$2, 70042 Shiba Inu (SHIB)$0.00000542$0.00000627$0.00000529$0.0000056545Hyperliquid (HYPE)$85.76$98$84$88.5047

Ethereum (ETH) tests $2,500 psychological barrier

Ethereum, as the second-largest blockchain network by market value, fell from around $2,700 to $2,525 in days. Despite repeated attempts, ETH failed to break past its September high of $2,800, further strengthening the importance of this resistance area.

The $2,500 level now represents a psychologically meaningful level of support. A daily close above $2,550 may indicate bullish interest renewed. Below $2,500, the $2,400 area and the September low of $2,350 constitute the next strong support. The $2,300 - 2,335 region is a cluster of orange and black moving averages, providing a significant cushion for prices, which is correlated with the continued upward trend since August.

In the recent decline, increased trading volume reflects active selling behavior, while the current RSI reading of 42 highlights weak momentum but not extremely oversold. A daily close below $2,500 could cause ETH to move towards $2,350, undermining its pattern of higher lows and further pressing the trend. ETH must remain above $2,500 to maintain its upward trend; otherwise, it risks falling back into the $2,300 - 2,350 range.

Shiba Inu (SHIB) and Hyperliquid (HYPE) face the moment to determine the chart's trend

Shiba Inu 最近因价格下跌至其关键长期均线 0.00000565 美元下方，目前估值为 0.00000542 美元。这对该迷因币来说是一个关键考验，下一个支撑位在 0.00000529 美元。如果该底线被突破，下一个目标是在 0.00000500 至 0.00000510 美元之间，这可能使其重新触及 9 月的低点 0.00000474 美元。

最近的下跌伴随着中等程度的交易量和 45 的 RSI，反映了看跌情绪但并非恐慌状态。价格重新回到 0.00000565 美元以上有助于恢复看涨希望，而跌破 0.00000529 美元将确认额外的下行风险。

Hyperliquid 是一个提供永续合约和衍生品的去中心化交易平台，在达到本周高点 94 美元后，回撤至 85.76 美元。尽管经历回调，HYPE 仍保持在所有主要移动平均线和支持位 84 美元之上。RSI 为 47，信号中性。如果价格维持在 84 美元以上，上涨趋势可能会继续，但日线收盘低于 83.70 美元可能会迫使深度回调至 78–79 美元区间。

小贴士： Hyperliquid 是一个链上去中心化交易所，专门从事衍生品交易和永续合约交易，旨在提供无缝且可扩展的交易体验，而不依赖传统的集中式基础设施。

Continuing resilience above $84 could trigger another rally to $88.50, followed by $94, and potentially challenging a high of $98. Conversely, continued weakness will invalidate this setting and increase the risk of hitting lower support levels of $78 and $75.