- Shiba Inu (SHIB) and Dogecoin (DOGE) face sharp price reversals after brief rallies in July.
- Ethereum (ETH) maintains strong momentum, breaking key resistance and showing resilience.
- Diverging trends highlight contrasting sentiment between meme coins and large-cap assets.
Shiba Inu gave up most of its July gains after briefly crossing the $0.000015 level. The asset now trades near $0.0000135, reversing weeks of progress within days. After reclaiming the 200 EMA for the first time in months, SHIB showed signs of a sustained rally, but rising selling pressure near resistance halted the move.
The sell-off broke through critical support levels at the 50 and 200 EMAs.At this moment, SHIB is finding it hard to stay above the 100 EMA. The RSI has moved out of its overbought level to within the neutral line. An increase in the number of red candles indicates aggressive selling and loss of bullish momentum. Should the SHIB not manage to stay above the mark of $0.000013, it can enter the range of smaller ones around the value of $0.0000125 or even by the point of $0.0000113.
DOGE Reverses Gains After Rapid Surge
Dogecoin posted a 22% drop, erasing most of its recent upward movement. The token surged above $0.28 but quickly fell back to the $0.24 zone. Despite surpassing the 50, 100, and 200 EMAs during its rally, DOGE could not maintain support. The decline followed overbought RSI levels and was confirmed by increased trading volume.
This downturn weakened DOGE’s short-term outlook and may influence broader sentiment toward meme-based assets. DOGE had led speculative altcoin activity during its run. The reversal may deter short-term traders and affect market momentum. If DOGE continues downward, it risks further losses and uncertainty among retail investors.
Ethereum Holds Firm as Meme Coins Retreat
Ethereum continues to outperform its peers, maintaining an upward trajectory while SHIB and DOGE struggle. After breaking resistance near $2,700, ETH climbed to nearly $3,900 with consistent volume support. The price now holds above key support zones around $3,500.
ETH is still structurally sound, as it has been trading above the 50 EMA and important psychological levels. It has decreased the unhealthy levels of RSI without bringing the significant selling activities. With Ethereum network and issuance coins, the Ethereum altcoin seems strong relative to the other cryptos. This is where active investors get interested. The stability of Ethereum may keep feeding its progression to $4,000 in the event of continuity in the following days.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
