Briefly
- Ethereum (ETH) cools down
- Uniswap (UNI) remains trapped in a narrow range.
- Dogecoin (DOGE) strives to hold at $0.0800
- Shiba Inu (SHIB) aims to reclaim the $0.00000500 level.
Briefly
- Ethereum (ETH): ETH is trading at $2,455, slightly below the resistance near $2,490; strong support is near $2,310. A daily close above $2,490 is needed to open the path toward $2,600.
- Uniswap (UNI): After falling approximately 30% from its high, UNI is trapped between $6.80 and $7.85 and needs to close above $7.85 to turn stronger.
- Dogecoin (DOGE): DOGE is trading at $0.0816, struggling to hold above $0.0800; resistance is near $0.0860, and a close above $0.0925 would confirm a trend reversal.
- Shiba Inu (SHIB): SHIB is trading at $0.00000514, below the key resistance near $0.00000528; holding above $0.00000500 is crucial to maintaining the higher low pattern.
Ethereum (ETH) cools down
After a strong rally in September, Ethereum has begun to cool off and is now at a critical juncture. ETH is trading at $2,455, having pulled back from a previous resistance near $2,800 at the end of September. The current price is slightly below the blue line around $2,490, which has now turned into resistance.
Earlier this week, ETH dropped to around $2,310 before quickly rebounding. This level coincides with the overlap of the orange line at approximately $2,355 and the black 200-day moving average at around $2,310, creating strong support here. The rebound was accompanied by high trading volume, indicating genuine demand at this price level. Sellers were unable to push prices lower, and the rapid recovery suggests that buyers remain active on dips.
The RSI is approaching 40, indicating weak momentum but not an extreme level, leaving room for price to move in either direction.
The first sign of strength will be a daily close above $2,490. This would bring the blue line back below the price, opening the path to $2,600, where the green line and recent lower highs are located. A further break above $2,600 could also bring the $2,700 area back into view.
The bearish scenario is equally clear. If the price closes below $2,310, the entire support zone could be breached at once, as the orange and black lines overlap here. If this occurs, ETH could decline toward $2,100—the trading range prior to the August rally.
Currently, ETH is in a consolidation phase. Support below is strong, but resistance above is also close; the next few daily closes will show who is in control.
Uniswap (UNI) remains trapped in a narrow range.
Uniswap has given back much of its gains since its September high and is now trapped in a narrow range. UNI is trading at $7.39, significantly below its peak of $10.90. Over the past week, the price has oscillated between $6.80 and $7.60, with no clear direction. It is currently near the blue line at approximately $7.35, which has acted as both support and resistance during these trading sessions. The green line at around $7.85 represents the next level of resistance.
The RSI is near 50, indicating neither buyers nor sellers have clear dominance. After falling approximately 30% from its high, the market appears weak, and the small candles with long wicks suggest traders remain hesitant.
The bullish scenario begins with a close above $7.85. This would indicate that buyers have regained control and could open the path to $8.50, followed by the $9.00 level, which was previously rejected in early October. A full return to $10.00 would require stronger upward momentum and higher trading volume.
Downside risk is also worth noting. The support levels below the current range are relatively far away. The orange line is around $6.25, and the black 200-day moving average is around $5.40. If UNI closes below $6.80, there may be little support until $6.25, potentially leading to a swift decline. Even if the price retraces to this level, the overall uptrend could still remain intact as long as it stays above both long-term moving averages.
UNI often follows ETH’s price movement, so the Ethereum chart is also important here. If ETH holds its support, UNI has a good chance of remaining range-bound and attempting an upward move; if ETH breaks below support, UNI is likely to decline even faster. Traders are waiting for a clear signal before UNI exits the $6.80 to $7.85 range.
Dogecoin (DOGE) strives to hold at $0.0800
After a weak start in October, Dogecoin is currently trading at $0.0816. The coin was rejected near $0.1060 at the end of September, and the black 200-day moving average around $0.0925 has also resisted every upward attempt. Following the failure, DOGE broke below the orange, blue, and green lines, which now all sit above the price, acting as resistance.
The latest decline touched a low of approximately $0.0777, after which buying pressure pushed the price back above $0.0800. Trading volume that day was the highest in several weeks, and the long lower shadow suggests sellers temporarily exhausted their momentum. This is a positive signal, but a single candlestick cannot reverse a trend. Today’s candle is smaller, and the price remains below all moving averages.
The RSI is approximately 45, indicating slightly bearish momentum, but not yet oversold, leaving room for further downside in the market.
Buyers' primary task is to defend the $0.0800 level. This area has held during mid-September and again this week, making it the bottom of the current range. If price closes below it, the lower shadow low at $0.0777 will come into focus, followed by the $0.0750 region.
To recover, DOGE needs to reclaim the orange line around $0.0860. This is the first real test, as the blue and green lines are near $0.0870 and $0.0875, respectively; the three moving averages are closely spaced and could form a wall of resistance. Breaking through them will require a high-volume upward trading day.
Before that, DOGE still appeared to be in a consolidation phase. Rallies were consistently sold off below $0.0860, while pullbacks were consistently bought near $0.0800, thus maintaining the range for now.
Shiba Inu (SHIB) aims to reclaim the $0.00000500 level.
After a significant decline earlier this month, Shiba Inu is currently trading at $0.00000514. The coin had risen to $0.00000627 at the end of September but encountered resistance near the black 200-day moving average at $0.00000562. Since then, the price has broken below the green, blue, and orange lines, indicating an overall weak structure.
After the latest decline reached a low of $0.00000483, buying pressure emerged. The long lower shadow indicates that sellers failed to maintain control at this level, but the rebound was modest. Volume remains lower compared to the previous rally, suggesting limited willingness among traders to commit capital to the rebound. The RSI is near 40, with momentum still favoring sellers.
$0.00000500 is a level to watch closely. SHIB has bounced from this level multiple times, and it is also a key psychological support level viewed by many traders. If the price closes below it, the next target will be around $0.00000475, near the September low, followed by $0.00000460. A break below these levels could bring the August low of $0.00000435 back into focus.
On the upside, the orange line at approximately $0.00000528 is the first obstacle. It is only about 3% above the current price, so SHIB may reach it soon; however, this level previously served as support and has now turned into resistance. Above it, the blue and green lines at approximately $0.00000538 and $0.00000545 are closely clustered, making a breakout difficult without strong volume support. The black line at $0.00000562 represents the final test before a potential trend reversal.
However, the higher low pattern remains intact. The August low was $0.00000435, the September low was $0.00000475, and this week’s low was $0.00000483. For now, SHIB is in a consolidation zone. While a modest rebound is possible, without increased volume, these rallies are likely to fade below the orange line, meaning buyers need to enter with greater conviction.