Major Altcoins Ethereum and Shiba Inu Face Significant Downside Risks
Major Altcoins Ethereum and Shiba Inu Face Significant Downside Risks
Recent reports indicate considerable bearish pressure on major altcoins, Ethereum (ETH) and Shiba Inu (SHIB). A prominent trader has outlined critical price levels for ETH, warning of a potential drop to $1,800, while SHIB is contending with a large sell-off that could lead to further price declines.
Ethereum Navigates Critical Price Levels
Top trader DonAlt suggests that Ethereum (ETH) may be in a precarious position. While a bullish scenario could see ETH breaking above $4,000 to reignite its rally, a more concerning outlook points to a drop below $2,900, which could pull the price down to $1,800. This highlights a pivotal moment for the cryptocurrency, with significant potential movement in either direction but with a strong emphasis on downside risk being outlined.
Shiba Inu Grapples with Substantial Sell-off
The meme coin Shiba Inu (SHIB) is reportedly undergoing a substantial 1,000,000,000 token sell-off. This significant market activity is seen as a potential precursor to a further price downslide, signaling a challenging period for SHIB holders and indicating ongoing bearish sentiment surrounding the asset.