Foreign media analysis suggests that on September 9th, in the crypto market, Hyperliquid's HYPE, Zcash's ZEC, Ethereum's ETH, and Shiba Inu coin SHIB all entered a new consolidation phase. Several of these assets had previously experienced significant gains, but their short-term momentum has begun to decline, and the market is now focusing on observing whether key support levels can be maintained.
HYPE Falls back below the previous high
HYPE Tumbled about 3% during the day, with prices dropping to around $82.5, a pullback from the previous high near $89. The article argues that despite the short-term cooling, the overall upward trend has not yet been disrupted.
Since late August, HYPE has rapidly risen from the $56 to $60 range and surpassed its previous important high of around $75. The current price is still above the main daily moving averages; among them, the 20-day moving average is around $77.8, while the 50-day and 100-day moving averages are near $66.
Foreign media believes that $78 to $80 is the most critical support level at present. This range coincides with the 20-day moving average and the previous consolidation area. If this level can be held, HYPE still has a chance to test $88 to $90 again; if it continues to break above this level, $100 will become the next integer milestone that the market will pay attention to.
ZEC The increase is still significant, but the risk of a pullback has risen.
ZEC has shown a more steep trend recently. The coin once rose above $1240 and has now fallen back to around $1149. Compared to its starting point of around $480 in August, the increase is quite considerable.
The article points out that the current price of ZEC has significantly widened from the main moving averages. The 20-day moving average has risen to around $849, but the 50-day and 100-day moving averages are still around $650. This indicates that the trend remains strong, but it also means that if the momentum suddenly weakens, there is not much technical support in the near term.
Foreign media mentioned that the relative strength indicator of ZEC is still in an overbought range, and the short-term risk of chasing high prices has significantly increased. Firstly, we need to see if the range of $1230 to $1250 can be effectively broken through; on the downside, we will first watch the support level of $1080 to $1100. If it continues to fall, $1000 will become an important psychological barrier. Even if it further retreats to around $850, the original upward trend may not be immediately disrupted.
ETH Holds above $2,400
ETH is currently consolidating around $2,459. The article argues that despite multiple attempts by the market to push prices back below $2,400, the selling pressure has not yet reversed the new structure formed after the breakout in August.
Previously, ETH broke through rapidly from the range of $1,880 to $1,920 and is still significantly above the main moving averages. The 20-day moving average is around $2,345, and the 200-day moving average is around $2,185, indicating that the medium-term support is still below.
However, the trading volume after the breakthrough has significantly declined compared to the initial stage, and RSI has also fallen from the overbought area to around 60. Foreign media believes that this is more of a consolidation following a rapid re-evaluation, rather than a reversal in trend. The short-term resistance lies between $2520 and $2560; if a breakthrough can be achieved effectively, the range of $2600 to $2650 may become a focus again. The first important support level below that is at $2400, and further down, the 20-day moving average around $2345 is worth watching.
SHIB Continues to be fixed but still suppressed
The trend of SHIB is weaker than that of ETH, but since the low point of August at around $0.00000440, it has gradually raised its lows, with the latest price near $0.00000541. The short-term structure is still倾向于 recovery, and the price is also temporarily above the 20-day moving average.
The article points out that the most important upward resistance for SHIB at present is at the 200-day moving average, which is around $0.00000567. Since the price has not yet re-crossed this level, the overall trend cannot be considered to have completed a clear reversal.
Foreign media believes that if SHIB breaks through $0.00000567, the range of $0.00000600 to $0.00000620 above may once again become the target area. Conversely, if it loses support at the upward trend line and around $0.00000517, the recovery momentum will weaken, and the range of $0.00000490 to $0.00000500 will become the new key defense zone.
