Ethereum Tests ₱122,360 ($2,000) Support as DOGE, SHIB Hunt Breakouts
Ethereum faces a critical test as it approaches ₱122,360 ($2,000) support, with bears maintaining control despite brief rallies. Dogecoin and Shiba Inu hunt for breakouts at $0.10 and $0.0000066 respectively.
Key Takeaway
Ethereum's $2,000 level is the key battleground — losing it opens the door to $1,800.
Ethereum hovers dangerously close to its ₱122,360 ($2,000) support level after weeks of selling pressure pushed it below both the 100-day and 200-day moving averages. A break below ₱122,360 ($2,000) would expose the ₱110,124 ($1,800) area as the next major support, representing months of consistent decline and potentially testing investor confidence in ETH's ability to hold multi-year trendlines. Standard Chartered analysts maintain long-term targets as high as $10,000, though current price action suggests traders are focused on defending immediate support levels.
Dogecoin shows more stability, consolidating around $0.09 after its recent recovery stalled. The meme coin approaches the $0.10 threshold, with breaking that level marking a return to price territory not seen since the token's protracted downtrend began. Dogecoin's path to $0.10 requires an 11% move from current levels.
Shiba Inu faces its own battle at $0.00000635, struggling to break through resistance between $0.0000065 and $0.0000066. The token trades below all major moving averages, with the $0.000006 level serving as the last line of defense before deeper losses. Shiba Inu needs to clear just 4% to test its resistance zone at $0.0000066.
This article was written based on reporting from U.Today.
