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A potential turning point for cryptocurrencies is approaching

2026-07-21 12:32:01
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After experiencing a wave of storms dominated by continued selling and severe market fluctuations, mainstream cryptocurrencies are showing signs of recovery. Shiba Inu, Ethereum and Bitcoin have all rebounded from July lows and are now testing key resistance levels that may determine the short-term direction of the market in the coming weeks.

Can Shiba Inu Coin achieve a breakthrough?

The meme-inspired cryptocurrency Shiba Inu recorded a 1.7% increase, halting its previous downward trend. Currently trading at close to US$0.0000114, Shiba Inu is trying to stabilize above key support areas. However, the rebound was mainly due to reduced selling pressure rather than substantial new buying. Although its price is still below the main moving average, momentum indicators show mixed signals, with the Relative Strength Index (RSI) close to 42. Breaking through the US$0.000118 and US$0.000120 resistance levels is crucial to reversing current bearish market sentiment.

If the current price cannot be held, Shiba Inu may retest its recent lows and face the risk of further decline.

Is Ethereum ready to start the next round of gains?

Yes. Ethereum, the second-largest cryptocurrency by market capitalisation, is approaching a key level of resistance after recovering from a significant decline in June. Ethereum prices have risen to nearly $1870, forming gradually rising highs and lows and standing on the short-term moving average. The 200-day moving average near $1936 is the main obstacle. A decisive breakthrough may pave the way towards the $2000 mark; if it fails, it may fall back to the $1800 range.

Ethereum's 50-day exponential moving average (EMA) is at $1796, constituting support.
The 100th EMA is at US$1732, providing further support.
Key resistance-the 200th EMA is at $1936.
Psychological goal: $2000.

Bitcoin targets key levels

Bitcoin shows promising signs of recovery after a sharp decline in June. Currently trading at around $64600, it has broken through important resistance levels, especially the 50th and 100th EMA, which have now turned into support. Ahead is the critical $68000 resistance zone, a position that is critical both technically and psychologically. The higher RSI and stable trading volume suggest that market sentiment has improved.

Although Bitcoin has not yet reached its peak in 2025, investors are closely watching whether it can maintain its upward momentum and break key thresholds, which could catalyze further market gains.

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