Shiba Inu (Shib) has officially broken through its most important annual support level
Apr 20, 2025 pm 08:36 PMThe key support levels of XRP and Shiba Inu (SHIB) have broken, suggesting that the long-term downtrend may continue.
XRP fell below important annual support levels, and SHIB also encountered a similar situation, indicating that its long-term decline may further develop.
SHIB fell below the key historical support level of $0.00001230 after several weeks of continuous pressure, which has remained stable since mid-2023 and has served as a rebounding springboard several times. This breakdown may mean that support is ineffective. The 100-day and 200-day moving averages are above the current price, maintaining the main downward trend, while the 26-day moving average is curved downward, showing a short-term bearish trend. The trading volume is consistent with previous selling conditions, indicating that this decline is not a flash in the pan.
The RSI indicator is approaching the oversold area, but it is not enough to guarantee an immediate rebound. If SHIB fails to quickly recover lost ground, the next target may be the $0.00001,050 area that has not been tested since October 2023, and may even fall below the $0.00001,000 psychological mark.
The loss of key support levels will not only affect the technical aspects, but will also hit market sentiment. SHIB relies on speculative interest and community enthusiasm, and a break in support levels will weaken its support unless the bulls counterattack quickly.
Meanwhile, Dogecoin is also facing a critical phase of collapse, heralding a broader bearish trend.
Dogecoin price is currently around $0.164, falling below the historical important support level of $0.183, which has served as the starting point for a bullish rebound many times.
Recent declines indicate a structural collapse in Dogecoin's price trend, rather than a brief pullback. Many attempts to rebound above the 26-day moving average failed, and the price continued to hit new lows, suggesting that the long-term bearish cycle may open.
The 50-day, 100-day and 200-day moving averages and other major moving averages are all tilted downward, indicating a major change in the trend. The volume pattern also reduces the possibility of a rapid rebound, as selling pressure increases with price declines. Momentum indicators such as RSI are approaching the oversold area, but given that the market risk appetite is still low, the possibility of rebounding in the short term is relatively small.
The next line of defense is $0.15, and a break below this level could trigger a larger correction that has not been seen since the second half of 2023.
Dogecoin's break below $0.183 marks a psychological shift, a level once a support and accumulation area, but now it is a resistance level, reflecting changes in market confidence. Unless a strong catalyst reignites interest in Meme coins, Dogecoin may continue to decline in the near term.
The above analysis is based on TradingView historical data. Benzinga strives to highlight trends and phenomena worthy of attention, not investment advice.
The above is the detailed content of Shiba Inu (Shib) has officially broken through its most important annual support level. For more information, please follow other related articles on the PHP Chinese website!

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