Bitcoin, Ethereum and Shiba Inu rise from July lows as resistance levels approach

Shiba Inu holds support, buyers show caution

Shiba Inu, a well-known meme-based cryptocurrency, rose by 1.7% in the most recent session, marking a pause in its earlier slide. SHIB recovered from local lows reached earlier in July and is now trading around $0.0000114, attempting to stabilize above a key support area that has previously attracted buyer interest.

Technical analysis indicates that the move is propelled largely by a slowdown in selling pressure, rather than the emergence of significant new buying. With the price still below all major moving averages, including the 50-day exponential moving average (EMA) at $0.0000118, SHIB maintains a bearish long-term structure.

Momentum indicators provide mixed signals. The relative strength index (RSI) has improved from oversold territory, now approaching 42, reflecting a reduction in selling momentum compared with June and early July. Trading volume remains subdued, indicating that speculative fervor is not driving the recent rebound.

For the market to shift decisively, SHIB must overcome resistance at $0.0000118 and $0.0000120. A move above those barriers may enable the price to target the 100-day moving average, which would represent a meaningful technical achievement for buyers.

Overhead resistance at $0.0000118 and $0.0000120 has become the most significant challenge facing bulls; only a successful breakout above these levels could turn market sentiment in their favor.

Should SHIB fail to maintain support at current prices, the token could be exposed to another test of recent lows.

Ethereum targets key resistance after V-shaped recovery

Ethereum, the second-largest cryptocurrency by market value, is approaching a major technical milestone after rebounding from sharp June declines. ETH is currently trading near $1,870, having climbed from lows close to $1,550 this month.

Throughout July, Ethereum established a sequence of higher highs and higher lows, reclaiming its 50-day and 100-day moving averages. These short-term averages, now at $1,796 and $1,732, have shifted from resistance to support, strengthening the bullish case.

The main obstacle for Ethereum is the 200-day moving average, positioned close to $1,936. This level has frequently acted as resistance so far in 2025, and a breakout would not only shift the technical outlook, but could also restore positive sentiment among investors.

Momentum signals are improving. The RSI has climbed to around 60, remaining below overbought territory but highlighting renewed demand. Also, sustained trading volume underscores that participation is broad-based and not limited to speculative traders.

A confirmed break above $1,936 could open the way to the next psychological target at $2,000, potentially attracting more buyers and further momentum. However, failure to surpass resistance might see ETH revisit the $1,800 support zone, which could delay its recovery.

Mini dictionary: Exponential Moving Average (EMA), a type of moving average that gives more weight to recent prices, providing a more responsive indicator of trend direction compared to simple moving averages.

Bitcoin sets sights on $68,000 resistance

Bitcoin has gradually rebounded from its steep June correction, regaining strength as buyers step in to defend higher lows. The largest cryptocurrency currently trades at $64,600, showing continued recovery momentum ahead of the key $68,000 resistance zone.

BTC’s return above its 50-day EMA at $63,700 and 100-day EMA at $63,100 marks a transition where former resistance levels now provide new support. This technical structure suggests improved confidence compared with recent weeks.

Buyers responded decisively after Bitcoin briefly dipped below $60,000, resulting in a steady, rather than rapid, climb. The next significant resistance is the 200-day EMA, located near $68,100, which has historically generated notable selling activity.

Momentum indicators continue to favor an upward move. The RSI has risen above 54, implying healthier demand without nearing the overbought threshold. Stability in trading volume further signals a gradual return of market participants following June’s sell-off.

The $68,000 region represents both a technical and psychological target for Bitcoin; if sustained support holds and the price reclaims the 200-day average, the rally could accelerate and meaningfully boost sentiment for the second half of the year.

Despite the positive short-term signals, Bitcoin remains well below its peak from earlier in 2025. Investors are watching closely to determine whether the recovery can maintain its momentum and break through key resistance levels, setting the stage for further gains.