Shiba Inu, Zcash, Monero and Dogecoin test key support levels after recent declines

Shiba Inu, Zcash, Monero, and Dogecoin are currently facing significant technical challenges as all four cryptocurrencies trade close to critical support levels following recent declines. The near-term outlook hinges on buyers’ ability to defend these levels amid subdued trading volumes and mixed signals across major indicators.

Shiba Inu struggles near support after recent slide

Shiba Inu (SHIB) is trading at $0.00000521 after a sharp drop earlier this week. The price has broken below the 100-day moving average, now around $0.00000530, which has shifted to act as resistance.

Today’s price action shows a small green candle with a long lower wick extending to $0.00000502, indicating that buyers stepped in near the round $0.00000500 figure. Immediate support remains at $0.00000500, followed by a zone between $0.00000475 and $0.00000490—an area that stemmed declines in September. Resistance levels stand at $0.00000530 to $0.00000542, with the 200-day average at $0.00000563 providing another obstacle above.

Momentum indicators remain weak, and low volume raises doubts about the sustainability of any short-term recovery. For bulls to regain control, SHIB must close above $0.00000530, ideally clearing $0.00000542. This would bring the 200-day line back into focus and open up new upside targets. A close below $0.00000500 could trigger a move toward the $0.00000475–$0.00000490 range, and a deeper drop may expose the August low at $0.00000440.

Shiba Inu’s fate hinges on the $0.00000500 level as sellers maintain the upper hand. Bulls need a decisive daily close above resistance around $0.00000530 to shift the picture.

Zcash tests moving average after 30% fall

Zcash (ZEC), a cryptocurrency focused on privacy and financial anonymity, is now trading at $1,196. This level reflects a drop of about 30% from its late-September high near $1,700, putting the price at the doorstep of the 50-day moving average.

Recent price action shows buyers attempting to defend the area between $1,120 and $1,230. Below $1,120, further support appears around $1,050 to $1,100, with deeper levels at the 100-day average near $985 and the 200-day average close to $760. Resistance is overhead at $1,230, $1,290, and $1,350.

Momentum signals have cooled, as the relative strength index (RSI) fell below 50 and trading volumes decreased. While buyers have protected the $1,120 area on several occasions, the lack of follow-through above $1,230 keeps the short-term trend under pressure. Bulls need to force a close above $1,230, then $1,290, to confirm the end of the pullback.

Mini dictionary: Zcash, launched in 2016, is a privacy-centric cryptocurrency allowing shielded transaction data through zero-knowledge proofs, aiming to provide financial confidentiality for users.

Monero and Dogecoin remain range-bound

Monero (XMR), another privacy-focused digital asset, continues to hold above its 50-day average near $515 after sliding about 17% from September highs around $635. The price currently trades near $528, with resistance in the $540–$545 area, followed by $560 and $590. Support sits at $515, then $483 and the 100-day average near $472.

Volume in recent days has tapered off, suggesting limited participation from both buyers and sellers. On the larger timeframe, the overall trend points upward, but a break below $515 would bring $483 into play; further declines might put the $472 floor at risk.

Dogecoin (DOGE), a meme-based cryptocurrency, has recovered to $0.0845 after defending the $0.0800 support level. Despite a modest 5% bounce, the price remains below key moving averages—including the 100-day line at $0.0862 and the 200-day average at $0.0928. The $0.0862 level is immediate resistance, with stronger barriers at $0.0877–$0.0890 and $0.0928, while downside protection centers on $0.0800 and then $0.0780. Momentum, as tracked by the RSI, remains weak and trading volumes are muted, leaving the bounce in question.

Both Monero and Dogecoin are considered range-bound at present, awaiting a decisive break above resistance or below support to set the next major direction. For all four cryptocurrencies, buyers need to show greater strength—and ideally, support from rising volume—to shift trends in their favor.