Shiba Inu remains under heavy pressure despite showing some signs of stabilization near local lows. After losing a number of significant support levels during the overall market decline, the asset is currently trading at $0.0000043. The 50-day, 100-day, and 200-day trend lines on the chart continue to point downward, indicating that bears are still in control of the market. SHIB is clearly below all major moving averages.
The recent rebound from June lows has been modest at best. Another rejection and continuation lower resulted from SHIB’s short-lived formation of a small ascending structure that was unable to maintain momentum.
Positively, the RSI is trying to form a higher low after recovering from extremely oversold territory, indicating that selling pressure is progressively lessening. The first significant obstacle for bulls is still the $0.0000046 region, which is followed by more robust resistance close to $0.0000050-$0.0000055, where a number of moving averages converge.
A breakout above those levels could trigger a more meaningful recovery. Any upward movement should be seen as a relief rally within a broader downtrend, though, as long as SHIB stays below them.
Should XRP Rival SHIB?
Technically, XRP is outperforming SHIB by a small margin. The asset has held above the psychologically significant $1 level after a protracted decline, and it has recently recovered toward $1.09. XRP is still trading below the 100-day and 200-day trend indicators, but the recovery has forced it back toward its short-term moving average.
The completed breakdown from a multi-month consolidation range is the chart’s most prominent feature. That breakdown accelerated selling pressure throughout June, but XRP appears to be attempting to establish a local bottom above the $1 support zone.
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Momentum is improving, as seen by the RSI’s recovery toward neutral territory. If buyers keep things under control, XRP may face resistance at $1.12 and then $1.21, which is where the 100-day moving average is currently located. The asset’s outlook would be greatly enhanced by a successful move above those levels.
Although XRP is still in a bearish long-term structure for the time being, it is exhibiting relative resilience in comparison to many significant altcoins. While holding above $1 is still crucial, a recovery above $1.21 would be the first clear sign of a more significant reversal.
Hyperliquid Makes Haste
Despite the recent decline, Hyperliquid is still one of the market’s top large-cap performers. HYPE is currently consolidating around $66 after surging to new all-time highs close to $76, returning some of its gains while preserving a strong bullish structure.
In contrast to the majority of altcoins, HYPE is still trading well above its upward-sloping 50-, 100-, and 200-day moving averages. The wider uptrend is confirmed to be intact by that alignment. The price has returned to the 50-day moving average at $63.9 as a result of the recent correction, and this is serving as the first significant dynamic support.
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After spending weeks close to overbought territory, the RSI has retreated to the neutral 53 area, indicating a significant cooling of momentum. That is a healthy development rather than a bearish one, as it reduces the risk of an overheated market. Another attempt to recover the $70 level is more likely if buyers hold onto the $63–$64 support zone.
Although the long-term outlook would remain bullish unless that level also fails, losing that support would expose HYPE to a deeper correction toward the 100-day moving average near $61.5.
Synapse’s Unexpected Recovery
In just a few weeks, Synapse went from below $0.05 to above $0.50, making it one of the market’s most explosive performers. The rally was propelled by multiple events that reinforced one another rather than a single catalyst. After Binance placed SYN under its Monitoring Tag, the action started as an aggressive short squeeze. As the price recovered from extremely oversold levels, heavily shorted positions were compelled to cover rather than causing capitulation.
After the Synapse team shifted the project’s narrative from its legacy bridge business to Hypercall, an options exchange based on Hyperliquid, the rally picked up speed. There was a resurgence of speculative interest in that new direction. The last significant boost came when Arthur Hayes, a co-founder of BitMEX, revealed an OTC purchase of over six million SYN tokens for about $2.2 million.
He described this as asymmetric exposure to the Hypercall ecosystem. His support raised market awareness considerably. Technically, however, caution is warranted. SYN is trading well inside overbought territory, with an RSI close to 88. The unusually long wicks of daily candles indicate significant profit-taking and high volatility.
The price is currently trading several hundred percent above the long-term moving averages, even though they have turned bullish. This leaves ample opportunity for significant retracements. Bulls continue to have momentum as long as SYN stays above the psychological $0.50 area. But after such a vertical move, volatility should be expected, and another 20–40 percent correction would not necessarily invalidate the broader uptrend.
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