Shiba Inu (SHIB) is flashing a warning sign after forming a bear flag pattern. Meanwhile, 2 trillion SHIB tokens have flooded exchanges in one month, highlighting growing bearish pressure towards Shiba Inu price. SHIB trades at $0.0000143 at press time with $180M in daily trading volumes and an $8.44 billion market cap. In 24 hours, SHIB has fluctuated between a daily low of $0.0000141 and a daily high of $0.0000146 per data from CoinMarketCap. Shiba Inu Price Flashes Warning Sign as Bear Flag Emerges Shiba Inu price has flashed a warning sign on the weekly chart after a bear flag pattern emerged. A bear flag usually indicates a brief pause in the downtrend before the bearish momentum continues to push SHIB lower. This bear flag will be deemed valid if the price of SHIB falls below the lower support level and extends the downtrend. In this case, this meme coin… Read More at Coingape.com
Bitcoin (BTC) ending its 8-day consolidation as it shot up just 2.76% in early Asian session on Monday. This sudden uptrend caused liquidation of nearly $100M in shorts in the crypto market. Despite a 2.76% rally in Bitcoin price, $82M in BTC positions were wiped. Ethereum rose just 4.15% leading to force-closing of $40M positions. XRP price climbed 2.63%, causing only $3M in liquidations.
Crypto Market Liquidations
Will Ethereum Price Sustain Borader Crypto Market Bullish Momentum?
Ethereum price is known for its lack of performance, but today, it shot up 4.15%, attempting to end its 10-day rangebound streak. Currently price is oscillating between the current month’s VWAP and previous month’s VWAP, leading to a lack of volatility.
A breakout, in either direction, will be a volatility event. With nearly $6B in positions in jeopardy, which way will ETH’s value go? It is still unsure if Ethereum price prediction leans bullish or bearish due to the uncertain macroeconomic and geopolitical conditions.
ETH/USDT 1-day chart
Bitcoin Price Ends its 8-day Consolidation Streak
After a sideways movement for eight days, Bitcoin price ended its streak by rallying 4.53% from Sunday’s low of $83,900 to a current daily high of $87,702. If the bullish momentum fails to follow through during today’s New York Open, it could lead to a revisit of the 8-day consolidation range’s support at $84K or the $80K psychological level.
BTC/USDT 1-day chart
XRP Price Ready to Move Higher?
XRP price is grappling with the weekly moving average and is attempting to overcome it. A successful flip will allow the bulls to propel Ripple (XRP) to $2.40, the next key hurdle. Beyond this, the token will revisit the yearly VWAP at $2.51, which is where the uptrend might pause and momentum might fade.
XRP/USDT 1-day chart
Crypto Market Price Predictions
Trump’s tariffs have caused a major impact on the markets and economic policies acorss the globe. With a 90-day pause, other countries are retaliation against President Trump’s bold move.
Fed Chairman Jeorome Powell’s statements about not backing down has also caused stress on the stock and crypto markets alike. With so many uncertainties, it is highly unlikely that risk-on assets appreciate from here.
If investors start to look at Bitcoin as a hedge against inflation, then it could climb higher just like Gold has in the past few weeks.
In the past few days, the crypto market has seen strong gains, with Bitcoin’s price creating a new all-time high. But this rise triggered a profit-taking sentiment, which caused the market to temporarily peak. Ethereum, in particular, struggled to stay above its recent high as large investors started pulling back their money. As a result, there might be a short-term correction for ETH price ahead.
Ethereum Struggles in Meeting Buying Demand
A market-wide rebound, driven by Bitcoin hitting new all-time highs and better overall economic conditions, helped push Ethereum’s price up to an eight-week high of $2,731. However, it’s now having trouble attracting strong buying interest, as many short-term investors have already sold to lock in profits.
According to Coinglass, over the past 24 hours, more than $40.66 million in Ethereum positions were liquidated. Of this, 15.12 million from buyers and $25.54 million from sellers. Meanwhile, data from IntoTheBlock shows a sharp drop in large transaction volume, falling from $12.24 billion to $3.28 billion in just three days.
Large Transaction Volume: IntoTheBlock
This suggests that big investors are stepping back, which is weakening the upward momentum in ETH’s price. With whales pulling back, sellers might gain the upper hand in the short term, possibly leading to a price correction.
Despite some recent price struggles, Ethereum’s defi activity continues to grow. The total value locked in Ethereum rose from $50.63 billion on April 26 to $62.7 billion by May 26, a jump of over 25% in just under a month.
Some of the biggest gains came from platforms like Pendle, where deposits increased by over 50%, and Ether.fi and EigenLayer, both of which saw 48% growth. Ethereum still leads all blockchains in TVL, holding 54% of the market. For comparison, Solana holds 8%, and BNB Chain has 5% among Layer-1 networks.
This strong DeFi growth could help support ETH’s price and reduce the chances of a major drop, as many investors remain bullish about a rebound.
What’s Next for ETH Price?
Ether recently faced resistance around $2,731, resulting in a drop below the immediate Fib levels. As bears strengthen their dominance, buyers struggle in triggering a recovery rally. As of writing, ETH price trades at $2,535, declining over 0.6% in the last 24 hours.
ETH/USD Price Chart: TradingView
The ETH/USDT pair might fall to the 100-day EMA (around $2,456), which is an important support level to watch. If the price bounces back strongly from that point, buyers may make another attempt to push past $2,750. If they succeed, the price could rise toward $3,000. There is some resistance around $2,870, but it likely won’t hold for long.
However, if the price drops below the 100-day EMA, this bullish outlook could change. In that case, the pair might fall further toward the descending trend line at $2,329. As the hovers below the midline, the chances of a bearish correction rise for ETH price.
The post Ethereum Prepares for Potential Pullback as Whales Exit: Is a Deeper Correction Ahead for ETH? appeared first on Coinpedia Fintech News
In the past few days, the crypto market has seen strong gains, with Bitcoin’s price creating a new all-time high. But this rise triggered a profit-taking sentiment, which caused the market to temporarily peak. Ethereum, in particular, struggled to stay above its recent high as large investors started pulling back their money. As a result, …
