Crypto Market Prediction: Shiba Inus (SHIB) Zero Finally Added, Ethereum (ETH) to Recover at $3,550? Bitcoin (BTC) $100,000 Free

SHIB/USDT Chart by TradingView

When the $0.0000115-$0.0000120 zone was not held, a sell-off ensued, causing volume to soar as panic spread throughout markets with a high concentration of retail buyers.

As far as technical analysis goes, SHIB is currently in a confirmed freefall. Deeply oversold conditions are indicated by the RSIs decline below 35, but there is not any immediate indication of reversal momentum. In the past, these kinds of meme asset breakdowns typically pick up speed before a significant recovery occurs.

Due to the current moves velocity, even that range may be tested sooner rather than later. The next obvious support level is located between $0.0000080 and $0.0000085.

To make matters worse, crypto sentiment is still shaky in the wake of last weeks wave of multi-asset liquidations. Because SHIB is correlated with Bitcoin and other risk-on altcoins, it is experiencing the same macro downdraft, which is characterized by evaporating liquidity, rising volatility and fear-driven speculative flows.

Ethereums turning point

With its price continuing to decline and approaching its 200-day Exponential Moving Average, Ethereum (ETH) is nearing a turning point that could decide whether the current downward trend continues or deepens into a correction.

With Ethereum now trading at about $3,790, it has lost almost all of its October gains and is now less than $250 from the 200 EMA, which is located at about $3,550. Historically, this technical line has served as one of ETHs most robust dynamic supports, reducing losses during sell-offs on the wider market.

However, if buyers are unable to hold this level, the market may quickly move into a longer-term bearish structure. A coordinated sell-off of ETH, Bitcoin and other altcoins caused the recent collapse, which was brought on by cascading liquidations throughout the cryptocurrency industry.

A noticeable loss of short-term momentum has been indicated by the assets recent decline below the 50-day and 100-day EMAs. The Relative Strength Index (RSI), meanwhile, has dropped into the 38-40 range, indicating bearish pressure but also suggesting that ETH is getting close to oversold territory, which could be a sign of a brief rebound.

Although trading volumes are still high, sellers have been the main force behind the activity rather than accumulation. This implies that until more solid evidence surfaces, investors are still reluctant to return to the market.

Restoring confidence and invalidating the current breakdown pattern would require a bounce above $4,000 for Ethereum to regain traction. Ethereum may try a technical recovery from that area, possibly creating a local bottom if the 200 EMA at $3,550 holds. However, if it breaks, a much longer decline is possible because the next support does not appear until $3,200-$3,300.

Bitcoin on thin ice

Since Bitcoin is floating on thin ice, the long-held $100,000 mark is now less of a remote risk and more of an inevitable outcome. Following weeks of losing ground, Bitcoin has formally broken below all of its significant short-term moving averages, including the 50- and 100-day EMAs. The 200-day EMA, which is currently trading at about $108,000, is now its last line of defense.

As of press time, Bitcoin is trading close to $105,800, already dipping below that important 200 EMA support level. In the past, investors have intervened to accumulate at this level. The conviction, however, appears to be weaker this time. Selling pressure has increased on both the spot and derivatives markets, and liquidity pools below $104,000-$102,000 are expanding, indicating that further declines may occur before a meaningful recovery.

There is no denying the bearish technical picture. On red candles, volume has increased, which is a blatant sign of panicked exits rather than calculated purchases. The current market setup makes the RSIs position at 42 — which suggests possible oversold conditions — cold comfort. Because traders are cautious about catching falling knives, the general sentiment has changed from buying the dip to waiting it out.

The next target is $100,000, a psychologically potent level that is currently open if Bitcoin firmly loses its footing at $108,000. Because there is not much structural support in between, the move toward six figures is essentially free — not in a bullish sense but rather in the sense that nothing significant is halting the decline. The market is about to enter the make-or-break stage, to put it briefly.

The trend could be saved by a strong recovery from $108,000, but if Bitcoin continues to decline, the eagerly anticipated $100,000 test — this time from above rather than below — may come much sooner than anyone anticipated.