Bitcoin, Ethereum and Shiba Inu rebounded from July lows and approached resistance

Mainstream cryptocurrencies rebound from July lows, key resistance levels test market direction

Mainstream cryptocurrencies are beginning to show signs of recovery after a difficult period of continued selling and high volatility. Shiba Inu, Ethereum and Bitcoin have all rebounded from July lows and are testing key resistance areas that could determine the direction of the overall market in the coming weeks.

Shiba Inu Coin holds on support, buyers are cautious

The well-known meme cryptocurrency Shiba Inu Coin rose 1.7% in the latest trading session, temporarily halting the previous downward trend. SHIB has rebounded from local lows set in early July and is now trading at around US$0.000114 as it attempts to stabilize above key support levels that previously attracted buyer interest.

Technical analysis shows that the increase is mainly due to the easing of selling pressure rather than the emergence of a large number of new buying orders. As prices remain below all major moving averages, including the 50-day indexed moving average at $0.000118, SHIB maintains a long-term bearish structure.

The momentum indicator releases a mixed signal. The Relative Strength Index (RSI) has rebounded from oversold territory and is now close to 42, indicating that selling momentum has weakened compared to June and early July. Trading volumes remained sluggish, indicating that speculative craze did not drive the rally.

If the market is to undergo a decisive shift, SHIB must break through the resistance levels of US$0.000118 and US$0.000120. After breaking these barriers, prices are expected to challenge the 100-day moving average, which will be an important technical achievement for buyers.

The upper resistance levels of $0.0000118 and $0.000120 have become the biggest challenges facing bulls; only by successfully breaking through these levels can market sentiment turn in their favor. If SHIB fails to hold on to the support of current price levels, the token may test recent lows again.

Ethereum targets key resistance after V-shaped rebound

Ethereum, the second-largest cryptocurrency by market value, is approaching an important technical milestone after rebounding from a sharp decline in June. ETH is currently trading at around $1,870, having rebounded from a low of nearly $1,550 this month.

Throughout July, Ethereum formed a series of higher highs and higher lows, regaining its 50th and 100th moving averages. These short-term moving averages, currently at $1,796 and $1,732, have shifted from resistance to support, strengthening the bullish trend.

The main obstacle facing Ethereum is the 200-day moving average, which is close to $1,936. This level has served as resistance many times since 2025, and breaking through it will not only change the technical outlook, but may also restore investor positivity.

The momentum signal is improving. The RSI has climbed to around 60 and is still below the overbought area, but highlights a renewed recovery in demand. In addition, continued trading volume suggests that market participation is widespread and not limited to speculative traders.

If a breakthrough of US$1,936 is confirmed, it may open the channel for the next psychological target of US$2,000, thereby attracting more buyers and adding further momentum. However, if resistance fails to break through, ETH may fall back into the support area of US$1,800, which will delay its recovery.

Key levels for Ethereum: The 50-day exponential moving average (US$1,796) is the support level, the 100-day exponential moving average (US$1,732) is the support level, the 200-day exponential moving average (US$1,936) is the key resistance level, and the psychological resistance level of US$2,000 is the potential target.

Small Dictionary: An exponential moving average (EMA) is a moving average that gives higher weight to recent prices and reflects the direction of the trend more sensitively than a simple moving average.

Bitcoin targets US$68,000 resistance

Bitcoin has gradually rebounded from a deep correction in June, gaining momentum again as buyers step in to defend higher lows. The largest cryptocurrency is currently trading at $64,600, showing continued recovery momentum ahead of a key resistance level of $68,000.

BTC rebounded above the 50-day EMA (US$63,700) and the 100-day EMA (US$63,100), signaling that previous resistance levels have turned into new support levels. This technical structure shows that market confidence has improved compared to recent weeks.

After Bitcoin briefly fell below $60,000, buyers responded decisively, pushing the price up steadily rather than rapidly. The next important resistance level is the 200-day EMA, near $68,100, a level that has historically triggered significant selling activity.

Momentum indicators continue to tilt upward. The RSI has risen above 54, indicating that demand is healthier and is not yet close to the overbought threshold. The stabilization of trading volumes further suggests that market participants are gradually returning after the June sell-off.

The $68,000 area is both a technical and psychological goal for Bitcoin; if support is maintained and prices regain their 200-day moving average, the rally may accelerate, significantly boosting market sentiment in the second half.

Despite positive short-term signals, Bitcoin is still well below its peak level in early 2025. Investors are watching closely to determine whether this recovery can maintain momentum and break through key resistance levels, laying the foundation for subsequent gains.