The cryptocurrency market remains highly volatile, with Ethereum battling to stay above key support

The cryptocurrency market remains highly volatile, with Ethereum battling to stay above key support, Bitcoin facing a potential death cross, and Shiba Inu defying the downtrend.

The cryptocurrency market has been highly volatile in recent times, with several key coins battling at critical levels of support. Ethereum is on the verge of dropping below $1,000 as market selling pressure remains strong. Meanwhile, Bitcoin faces the possibility of a death cross, which could lead to further price reductions unless it manages to secure a breakout above resistance.

However, Shiba Inu has been defying the broader market trends with surprising resilience, showcasing that investors remain interested in the meme coin. As technical indicators and macroeconomic factors play a role in market prediction, traders are analyzing key signals for the future direction of these cryptocurrencies.

Ethereum’s Struggle: Will ETH Drop Below $1,000?

The price of Ethereum (ETH) has encountered substantial pressure from market sellers. This factor has pushed the current value to $1,960, although its cycle peak reached approximately $4,000 earlier this year. Since January, ETH has been forming lower highs and lower lows, which is a confirmation of a bearish trend.

Technical indicators also highlight weakness, with ETH trading below its 50, 100, and 200-day Exponential Moving Averages (EMAs). These Exponential Moving Averages now act as shifting barriers in opposition to market recovery. Additionally, the Relative Strength Index (RSI) shows an oversold position, which signifies increasing selling activity as the market experiences a steeper decline.

The increasing trading activity during these sell-offs demonstrates that investors are exiting their positions rather than accumulating more ETH at lower prices.

Chart 1: ETHUSD chart, published on Trading View, April 11, 2025

Experts state that ETH will be focusing on analyzing the $1,000 barrier after it fails to break through the $2,000 resistance. A breakdown below this level could lead to a sharp drop towards $800-$900, which would be its lowest level in nearly three years.

If there is buyer intervention during this double-bottom pattern, it could create a possible relief rally pushing above $2,000.

Shiba Inu Breaks the Mold: Defying Cryptocurrency Market Trends

Shiba Inu (SHIB) has shown resilience to broader market declines. The cryptocurrency market recovered well after hitting support at $0.000011, settling between $0.000012 and the present levels.

Generally, demand for the market rises when prices fall, thus preventing any additional price decrease. In this case, we can observe an increase in SHIB’s trading volume, which functions as evidence that shows ongoing investor enthusiasm about the meme coin.

The Relative Strength Index (RSI) also indicates better market perception as it moves up from its oversold position to reach 45. Technical resistance lies between $0.0000124 and $0.0000130. SHIB can target two higher resistance levels at $0.0000155 and $0.0000171. This will need a breakout from the resistance level. However, another retest of the $0.000011 support might occur if SHIB fails to breach resistance.

Shiba Inu is one of the few coins that are showing exceptional performance in a generally weak market. As bullish momentum seems to be taking over given recent price action and volume gains, SHIB is poised for further gains if it manages to break through key resistance levels.

Future Outlook: Where is the Market Headed?

The cryptocurrency market hangs in the balance as Bitcoin approaches a crucial decision point. At present, the Bitcoin price hovers around $78,000, placing it on the brink of two pivotal directions.

A surge above $85,000 will propel Bitcoin towards further bullish trends, while failing to break through this resistance could lead to a steeper decline towards the $75,000 level.

The Ethereum price faces an urgent battle to stay afloat above $1,000 as it encounters significant selling pressure.

Shiba Inu is displaying potential for growth opportunities if it manages to surpass key obstacles in the present market.

Investors are advised to keep a close eye on macroeconomic factors, regulatory developments, and trading volume trends as they provide valuable signals for navigating the volatile market.

Moreover, strategic risk management will be crucial in the coming weeks as market participants navigate the ever-changing landscape of the cryptocurrency market.