SHIB price stagnant, Bitcoin facing strong resistance at $61,000, Ethereum transaction fees drastically dropped

From Investing.com
August 17, 2024 01:30 AM:

The price of SHIB has been stagnant, unable to break out of the $0.0000134 trading range. Resistance levels at $0.00001813 and $0.00001597 play a crucial role, with support at $0.00001200. Low trading volume suggests caution among traders awaiting a clear direction for SHIB’s movement.

Bitcoin faces strong resistance at the $61,000 level, failing four times to break through. The 50-day EMA acts as a barrier, signaling a possible period of inactivity for Bitcoin’s price. Low trading volume and lack of buying interest contribute to the struggle to surpass this resistance level.

Ethereum experiences a drastic drop in transaction fees, the lowest in five years. The decrease poses a fundamental crisis for the network’s economic model, impacting supply growth, burn rate, and validator incentives. Diminished network security and stability could result from the lower fees and burn rate, undermining Ethereum’s value proposition.

Read more at Investing.com: What’s Happening? Is This Bitcoin (BTC) Resistance Unbreakable? Ethereum (ETH) On Verge of Fundamental Crisis? By U.Today