Uncertainty and pressure on large-cap cryptocurrencies have been dominating the market lately. While leading assets like Bitcoin, Ethereum, XRP, and Shiba Inu continue to show bearish trends, Toncoin has bucked the trend, standing out with a distinct show of strength.
BTC stalls below 200-day average
Bitcoin, which managed to bounce from its March low, quickly reclaimed the 50 and 100-day moving averages, yet has remained stuck below the 200-day moving average at $82,000. This average is often seen as a key long-term indicator for market direction, and Bitcoin’s failure to break above it has signaled weakness across the market.
Despite a rise in price action, trading volumes have remained underwhelming and the appearance of a rising wedge pattern casts doubts on the sustainability of any upward movement. Although the Relative Strength Index (RSI) is still elevated, it does not suggest a strong bullish phase, highlighting fading momentum in the market.
Bitcoin is still struggling to hold above its 50-day average. Should it lose this trendline, the 100-day average is likely to become the next target—which would also put additional pressure on the altcoin market. For sentiment to improve, Bitcoin needs not only a decisive break above its 200-day average but also a surge in trading activity.
Toncoin rallies, XRP and ETH face pressure
Toncoin has emerged as an exception among large-cap coins, rapidly surpassing its 50, 100, and 200-day moving averages. The rally was marked by a sharp spike in trading volumes, largely attributed to institutional or major investor activity rather than individual buying interest.
This sudden rise essentially rendered previous consolidation ranges irrelevant. As the RSI soared well above 80, the market saw overbought conditions that may set the stage for short-term profit-taking or sideways action. A key question for Toncoin now is whether it can hold on to these newly established support levels; a drop below this area could abruptly end the rally.
Conversely, XRP and Ethereum are having a hard time clinging to past support zones. XRP, in repeated attempts to recover, has tested the horizontal support at $1.38 multiple times but has encountered significant sell pressure every time. Remaining below the 50, 100, and 200-day averages for much of the year, XRP has struggled to reclaim even short-term moving averages.
Market observers note that in the absence of clear, volume-backed recovery signals, upward moves in $XRP tend to transform into distribution and selling pressure.
Weak momentum and subdued volumes continue to diminish hopes for a robust recovery. The neutral RSI points to reluctance from both buyers and sellers. If the main support breaks, renewed selling pressure could emerge rapidly.
A similar scenario is playing out in Ethereum. Its latest attempt to rise was quickly rejected at the resistance zone between the 100 and 200-day averages. Although ETH briefly caught bullish momentum last month, faltering at the upper resistance led to an intensification of sell-offs, leaving the coin in a weakened state once again.
ETH recently retraced to its 50-day average. Should this level give way, Ethereum could revisit its March lows. For a more durable recovery, a clear breakout from the downward trendline and a successful re-test of the 100-day average as support are required—conditions not yet confirmed in the current price action.
Weak recovery signals for SHIB
Although Shiba Inu has stabilized above its March lows in recent days, the overall price trend remains downward. The steady decline of the 200-day moving average, despite short-lived consolidation, signals the continuation of a weak market outlook.
After briefly testing the 50-day average and failing to break higher, SHIB’s low-volume movements have eroded confidence in the latest recovery attempts. For any lasting bullish reversal, the market will need to see consecutive daily closes above both the 50 and 100-day averages. So far, buyers have not signaled a decisive change in control.
On a positive note, if SHIB can reclaim the $0.00000640–$0.00000660 band, it could mark the first concrete signal for buyers. However, current conditions point more to a persistent downtrend than to a stable turnaround in the near term.
