Cryptocurrency Market Faces Continued Downward Pressure

The cryptocurrency market is currently in a state of flux, with several major assets experiencing significant price drops. Ethereum (ETH) is one such asset, trading near the critical $1,885 support level. If ETH fails to hold this level, it could lead to further declines and undermine any potential recovery.

XRP, another prominent cryptocurrency, is also facing challenges as it struggles to regain its lost value. Despite sitting above the mid-$1 region, lower highs are still forming, indicating a bearish trend. The asset's inability to produce significant recovery momentum has led to a downward continuation in price action, making it increasingly likely that XRP will eventually test deeper supports.

Shiba Inu (SHIB) is also experiencing difficulties, with its recent rebound attempts failing to gain traction. The asset remains stuck below important moving averages, which are sloping lower and acting as dynamic resistance. Unless SHIB can break above these levels and reclaim higher resistance zones, it may continue to decline or enter a new selling wave.