Analyzing Shiba Inu's (SHIB) Unexpected Price Uptick, Ethereum's (ETH) Biggest Test For $2,000 Yet, Bitcoin (BTC) Has Room For $68,000 Run

The market finally seeing an uptick in volatility, which should enable a proper move upwards further into the week.

Arman Shirinyan · 21 Jul 2026 · 9 min read

Wire content from U.Today

Original
U.Today
article

Analyzing Shiba Inu’s (SHIB) Unexpected Price Uptick, Ethereum’s (ETH) Biggest Test For $2,000 Yet, Bitcoin (BTC) Has Room For $68,000 Run

Crypto Market Review

By
Arman Shirinyan

Tue, 21/07/2026 – 0:01

The market finally seeing an uptick in volatility, which should enable a proper move upwards further into the week.

Analyzing Shiba Inu's (SHIB) Unexpected Price Uptick, Ethereum's (ETH) Biggest Test For $2,000 Yet, Bitcoin (BTC) Has Room For $68,000 Run

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Ethereum Yet to Be Tested
Bitcoin’s Momentum Is There

After weeks of steady decline, Shiba Inu has shown a slight but noteworthy recovery, with the well-known meme asset rising by about 1.7% during the most recent trading session. The move is notable because it came after a protracted period of diminishing momentum and almost constant selling pressure, even though it is insufficient to change SHIB’s overall bearish trend.

SHIB has recovered from local lows set earlier in July and is currently trading at about $0.0000114. The rebound occurs as the token makes an effort to hold steady above a crucial support area that has drawn buyers on multiple occasions over the previous few weeks. Technically speaking, the shift seems to be motivated more by seller fatigue than by aggressive new purchases.

SHIB is still below all significant moving averages, according to the chart. The long-term market structure is still bearish because the 50-day EMA is close to $0.0000118 and the 100-day and 200-day trend indicators are still significantly higher. Nonetheless, a number of indicators suggest that the downward momentum has started to wane. The RSI is now getting close to the 42 level after recovering from oversold territory.

HOT Stories

Analyzing Shiba Inu’s (SHIB) Unexpected Price Uptick, Ethereum’s (ETH) Biggest Test For $2,000 Yet, Bitcoin (BTC) Has Room For $68,000 Run

Shiba Inu (SHIB), Solana (SOL), Hyperliquid (HYPE) and XRP Price Analysis for July 20: Fresh Week Without Fresh Liquidity

This shows that selling pressure is no longer controlling the market to the same extent as it was in June and early July, even though it is still below neutral. The concept of stabilization is also supported by volume dynamics. Speculative mania is not driving the current rebound because trading activity has not skyrocketed. Rather, SHIB seems to be establishing a short-term base following a protracted decline. Overhead resistance continues to be the largest obstacle for bulls.

Ethereum Yet to Be Tested

As the second-largest cryptocurrency continues to recover from the severe June sell-off, Ethereum is getting close to what might be its most significant resistance test in recent months. ETH has risen back toward the $1,900 area after recovering from lows close to $1,550, putting it squarely below a significant technical barrier that may decide whether a move toward $2,000 materializes.

Ethereum is currently trading at about $1,870 and has established a series of higher highs and higher lows throughout July. Growing momentum and a successful recovery of the 50-day and 100-day moving averages have bolstered this comeback. Bulls now have a stronger base than they did a few weeks ago because the 50-day EMA around $1,796 and the 100-day EMA around $1,732 have moved into support. The most significant obstacle is still ahead.

The 200-day moving average for Ethereum is currently being tested close to $1,936, a level that has frequently served as resistance throughout 2025. This region is more significant than just a moving average. Additionally, ETH would return above a crucial psychological threshold and greatly improve market sentiment if it broke above the 200-day trend line. The current price structure indicates a rise in buyer aggression.

Despite sporadic profit-taking, Ethereum formed a robust V-shaped recovery after the capitulation event in June and has continued to push higher. Throughout the advance, trading volume has stayed high, suggesting real participation as opposed to a purely speculative bounce.

Bitcoin’s Momentum Is There

After recovering from its dramatic June correction, Bitcoin is quietly gaining momentum. The current technical structure indicates that the market still has room to rise before running into significant resistance. As buyers continue to defend higher lows, the path toward $68,000 seems more plausible, with Bitcoin currently trading at $64,600.

Bitcoin’s successful comeback above the 50-day and 100-day moving averages is the chart’s most significant development. In contrast to the market structure observed only a few weeks ago, the 50-day EMA near $63,700 and the 100-day EMA around $63,100 are now functioning as support rather than resistance.

After Bitcoin briefly fell below $60,000 due to a sharp sell-off, buyers intervened forcefully, setting off a series of higher lows. The recovery has been gradual rather than rapid, which frequently provides a stronger basis for long-term upward movement. Technically speaking, the next major barrier does not appear until the $68,000 range.

This region is in line with the 200-day moving average, which is currently close to $68,100. Traders are likely to see this zone as the first significant test for the continuing recovery, since long-term trend indicators frequently attract significant selling activity. The bullish argument is still supported by momentum indicators.