A combination of on-chain and market activity is supporting bullish sentiment for Shiba Inu despite the ongoing consolidation. Yesterday, millions of Shiba Inu disappeared from exchanges, hinting at renewed accumulation despite price uncertainties.
The recent retracement has brought Cardano to a key buying zone, suggesting that a possible recovery could be in the pipeline. Specifically, the current price level marks the support area in a broader descending channel, an area that could determine the near- and mid-term price development for Cardano.
Shiba Inu hints at a possible recovery after holding key support, potentially targeting the upper range of a price channel. Shiba Inu (SHIB) ended the week poorly with its 4% decline on Sunday.
Wyoming Senator Cynthia Lummis has called on US lawmakers to swiftly pass the CLARITY Act, which would bring structure to the US crypto market. She reiterated the legislation’s importance to the growth of the digital asset sector in her recent X post, calling for a decisive move in Congress.
The Shiba Inu open interest (OI) has received a fresh bump, signaling renewed interest among speculative market participants. Derivatives interest in the Shiba Inu token made a comeback as traders start betting on the meme coin again.
Cardano (ADA) has maintained a bullish structure while holding above key support levels, making a case for a strong reversal to the upside. Cardano is down 3.4% since the start of the week and could print its third weekly red candle if the price stays at the current level.
Bitcoin (BTC) has fallen below a crucial market sentiment gauge and has failed to reclaim it, further piling pressure on its price. The crypto market leader has corrected over 4% so far this week, relinquishing all the gains from the previous week.
Cardano is showing strong momentum around a key support area, fueling the prospects of a recovery to higher price levels. Notably, the 10th-largest cryptocurrency by market cap printed its first green candle in four days, joining a broader market recovery.
Cardano nears record lows against Bitcoin amid prolonged price consolidation, but history offers context for subsequent price action. Notably, altcoins in general have recorded steeper declines than Bitcoin amid occasional corrections during a mild bullish season for the crypto industry.
Shiba Inu (SHIB) is now trading below a key support-turned-resistance level after a failed attempt to reclaim higher prices. Another uptrend wave from Shiba Inu has stalled, particularly below a vital support level.
Brian Armstrong, the CEO of Coinbase, didn’t hesitate to correct the French Central Bank governor, Francois Villeroy de Galhau, on his Bitcoin misconception. During the ongoing World Economic Forum, where key global financial leaders discussed tokenization and its future, Armstrong emphasized that Bitcoin remains a decentralized protocol more independent than central banks.
The current consolidatory momentum has seen Cardano retest a key descending trendline, creating two possible price scenarios. Notably, the recent leg down has pushed Cardano to the neckline resistance from which it broke out, following its early January rally to $0.43.
Despite a strong start to the year, XRP has relinquished most of its gains amid market instability and macroeconomic uncertainty. XRP took off in the first week of the year on the back of renewed momentum from a fresh start and capital shift into the regulated products tracking the asset.
Twenty One Capital CEO Jack Mallers says Bitcoin could hit new all-time highs before the end of 2026, but might see lower prices in the short term. Mallers explicitly projected a rally to between $150,000 and $200,000, surpassing its October 2025 peak price of $126,200.
Cardano could be following a well-structured bullish pattern, and its price action around two key levels would either confirm or invalidate this. The recent price development for Cardano (ADA) mirrors a 1-2 wave in a broader Elliot Wave Theory structure.
The earlier upward momentum for the prominent meme coin Shiba Inu has decayed, pushing prices back to the yearly demand stronghold. Shiba Inu (SHIB) dropped to the support level following its Trump tariff-inspired decline to $0.00000745 yesterday, in line with broader crypto market trends.
Shiba Inu currently trades below a crucial support level and reclaiming it may pave the way for further recovery to much higher levels. Specifically, Shiba Inu trades below the $0.00000830 demand zone following a recent sideways trend.
The amount of staked Ethereum continues to climb despite the dip, reestablishing investor confidence beyond short-term volatility. Notably, over 30% of the Ethereum total supply has now been staked, drastically depleting its supply in actual circulation.
The supply of Shiba Inu on exchanges is drying up despite current price uncertainties, suggesting potential reduced immediate selling pressure. Data shows that the amount of SHIB tokens on all centralized exchanges has seen a remarkable decline in the past 72 hours.
A major Shiba Inu indicator has flashed bearish signals on the daily chart, piling more pressure on the price of the prominent meme coin. The short-lived bullish rally in early January is losing momentum fast, and the key indicator further confirms this.
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