- Ethereum’s descending triangle pattern signals increased downside pressure ahead.
- Shiba Inu defies broader market trends with a strong breakout rally.
Ethereum, Bitcoin, and Shiba Inu show contrasting market patterns as April 2025 unfolds. Ethereum is nearing a critical support level below $1,500 after a sharp daily decline. Bitcoin’s bearish setup, marked by a death cross, may face invalidation. Meanwhile, Shiba Inu has surged over 13% after breaking out of a falling wedge.Â
At the time of writing, Ethereum’s price is $1,522.70 after registering a 6.92% drop over the past 24 hours. The asset opened above $1,650 but faced consistent selling pressure throughout the day.Â
Ethereum Hovers Near $1,500 With Downtrend Intact
Ethereum (ETH) dropped 7.52% on April 10, reaching $1,543.66. The daily chart shows two steep descending trendlines, confirming continued selling pressure. ETH failed to hold above the $1,600 resistance, leading to intensified losses. The current pattern reflects a descending triangle, often linked with an extended bearish trend
Ethereum(ETH) 1-Day Chart Source: TradingView
Volume rose significantly during the decline, supporting strong seller dominance. The resistance zone near $2,200, tested earlier in the year, remains distant. Rejection candles below this level add to bearish sentiment. The price has recorded consistent lower highs and lower lows.
Ethereum could lose the four-digit range if it drops below the $1,383 support. Traders are monitoring this level as a last line of defense. Analysts note that continued weakness below $1,500 could trigger panic sell-offs. For now, downside risk remains elevated, with momentum clearly in favor of sellers.
Bitcoin Eyes Recovery as Death Cross Signal Wavers
Bitcoin (BTC) has been facing resistance near the $71,000–$73,000 range, as shown in Coinbase’s 1D chart. Recent candles have failed to break through, with strong rejections continuing. A death cross recently formed, where the 50-day SMA crossed below the 200-day SMA, typically seen as a bearish sign.
Bitcoin (BTC) 1-Day Chart Source: TradingView
According to Coincryptonews, crypto analyst Ali Martinez reported that such crossovers had preceded extended corrections. However, recent price action hints at a potential reversal. BTC bounced from the 365-day SMA near $67,000, a level that has acted as support in recent weeks. The Ichimoku Cloud overhead still shows bearish momentum, but volume suggests uncertainty rather than conviction.
Support levels at $65,200, $61,400, and $56,300 remain intact. The bearish structure could be invalidated if Bitcoin reclaims $73,000 with a substantial buying volume. The trend remains cautious, but the chance of canceling the Death Cross setup is gaining attention.
Shiba Inu Breaks Pattern With Bullish Volume Spike
Shiba Inu (SHIB) has diverged from the broader market downtrend. On Binance, SHIB posted a 13% intraday gain against USDT. The surge followed a breakout from a falling wedge pattern developed over several weeks. Two converging trendlines marked the wedge, with the upper line now decisively broken.
SHIB/ Tether 1Day Chart Source: TradingView
SHIB had been consolidating near the 0.0000100 USDT level, a strong support that held through several tests. The breakout was confirmed with rising trading volume, signaling renewed market interest. RSI stands at 45.73, indicating upward momentum while staying below overbought territory.
If momentum continues, SHIB could approach the 0.0000140 resistance. Analysts emphasize the importance of volume in sustaining the rally. SHIB’s move offers a rare bullish signal in an otherwise cautious market.
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.
