Major cryptocurrencies Zcash (ZEC), Ethereum (ETH), Shiba Inu (SHIB), and Hyperliquid (HYPE) are confronting crucial support zones after notable declines. Traders are closely watching these levels for potential rebounds or the risk of further losses.
Zcash (ZEC) struggles near critical support
Zcash, a privacy-focused cryptocurrency, is now trading at $1,190, marking a sharp drop from its September peak of $1,700. The past week brought accelerated losses, with the price unable to reclaim $1,340 and quickly sliding toward the current level.
As of now, ZEC sits atop the blue and cyan moving averages near $1,180, which defined the last major support during September’s rally. This area is significant for buyers aiming to defend the ongoing trend. If ZEC closes below $1,180, analysts anticipate a potential move to the $1,050–$1,100 zone, where the mid-September pullback previously stabilized. A steeper drop toward the orange average at $960 or the distant $735 support would reflect a much deeper correction in the trend.
Momentum has weakened, as seen by the Relative Strength Index (RSI) falling to 40, a level not reached in several weeks. While overall trading volume remains low, renewed buyer engagement will be necessary to avoid a more severe drop.
ZEC faces a make-or-break moment: holding $1,180 could trigger a move back up to $1,340, while a close below $1,180 will likely open the way for further losses toward $1,050.
A daily close above $1,340 would suggest strengthening bullish momentum, whereas a close under $1,180 would reinforce the bearish outlook.
| Asset | Current Price | September High | Key Support | Key Resistance | RSI |
|---|---|---|---|---|---|
| Zcash (ZEC) | $1,190 | $1,700 | $1,180 | $1,340 | 40 |
| Ethereum (ETH) | $2,525 | $2,800 | $2,500 | $2,700 | 42 |
| Shiba Inu (SHIB) | $0.00000542 | $0.00000627 | $0.00000529 | $0.00000565 | 45 |
| Hyperliquid (HYPE) | $85.76 | $98 | $84 | $88.50 | 47 |
Ethereum (ETH) tests psychological level at $2,500
Ethereum, the second-largest blockchain network by market capitalization, has slid to $2,525 after starting the day near $2,700. Despite several attempts, ETH has been unable to break above the September top at $2,800, reinforcing the importance of this resistance zone.
The $2,500 level now represents a psychologically significant support. A daily close above $2,550 may indicate renewed bullish interest. Below $2,500, the $2,400 area and the September low at $2,350 mark the next strong support. The $2,300–$2,335 area, where the orange and black averages congregate, provides a notable cushion for the price, correlating with the ongoing uptrend from August.
Volume increased across the recent decline, reflecting active selling, while the current RSI reads 42, underscoring weak momentum but not extreme overselling conditions. A daily close under $2,500 could send ETH toward $2,350, potentially disrupting its higher-low pattern and pressuring the trend further.
ETH must remain above $2,500 to keep its uptrend intact; otherwise, it risks descending back to the $2,300–$2,350 range.
Shiba Inu (SHIB) and Hyperliquid (HYPE) face chart-defining moments
Shiba Inu is currently valued at $0.00000542 after a recent drop pushed the price below its key long-term average at $0.00000565. This marks a critical test for the memecoin, with the next support at $0.00000529. Should this floor break, the next stop is between $0.00000500 and $0.00000510, setting up a possible revisit of September’s $0.00000474 low.
Recent declines occurred with moderate volume and an RSI of 45, reflecting bearish sentiment but not panic conditions. A move back above $0.00000565 would help restore bullish hopes, while a drop below $0.00000529 would confirm additional downside risk.
Hyperliquid, a decentralized trading platform offering perpetual swaps and derivatives, has experienced a pullback to $85.76, after reaching a high of $94 this week. Despite the correction, HYPE holds above all its major moving averages and support at $84 remains intact. The RSI stands at 47, signaling neutral momentum. If the price maintains above $84, the uptrend may continue, but a daily close below $83.70 could force a deeper retracement toward the $78–$79 zone.
Mini dictionary: Hyperliquid is an onchain, decentralized exchange that specializes in derivatives trading and perpetual contracts, aiming to provide a seamless and scalable trading experience without relying on traditional centralized infrastructure.
Continued resilience above $84 could prompt another rally to $88.50, followed by $94 and a potential challenge of the $98 high. Conversely, sustained weakness would invalidate this setup and increase the risk of reaching lower support levels at $78 and $75.
