Shiba Inu (SHIB), Hyperliquid (HYPE), Zcash (ZEC) and Ethereum (ETH) Price Analysis for October 9: Bearish Tendencies Get Too Strong

Bearish Tendencies Get Too Strong in SHIB, HYPE, ZEC, and ETH

Market Analysis

The crypto market is experiencing a bearish trend, with several cryptocurrencies experiencing significant price drops. Zcash (ZEC) is trading at $1,190, down 30% from its September high of $1,700. The price is now about 30% below its September high, and the extent of the damage became clear over the last few days. The price failed near the green average at $1,340 and then fell sharply. However, ZEC is sitting right on the blue and cyan averages, both around $1,180, which is the main support area. A rise began from here in September, which suggests buyers might defend it again. If $1,180 is breached, the next area of interest is $1,050 to $1,100, where the mid-September pullback ended. The next solid support is the orange average near $960, just below it. The black long-term line is far away, near $735, which shows how rapid the rally was. Momentum is declining, with the RSI dropping to about 40, its lowest level in several weeks. With volume low, this is not yet a panic sell, but buyers are not actively participating either. The first sign of strength for bulls would be a daily close above $1,340. After that, they must break through $1,400 and $1,500, and breaking $1,700 would set a new high. If the price closes below $1,180 on the daily chart, bears would see more downside confirmed. A drop below $1,040 would break the September low and damage the overall trend.

Ethereum (ETH) Analysis

Ethereum is trading at $2,525 after declining from $2,700. The September high of $2,800 is still the top, and ETH has been unable to break it twice. The price is testing the blue average around $2,505 and has just dipped below the cyan average near $2,550. The $2,500 level is the most relevant price level for Ethereum, a psychologically significant round-number support. A daily close above $2,550 would signal that buyers are returning. Below $2,500, the next support is $2,400, followed by the September low at around $2,350. At $2,300 to $2,335, the orange and black averages sit in close proximity, making this the chart's strongest support zone. A bounce is likely if ETH reaches it, thanks to the uptrend in place since August. Volume deserves attention. The red candle appeared on high volume, indicating that sellers were active and that the move is not just market noise. ETH's RSI has dropped to around 42, which is weak but not oversold. Bulls first target $2,610, then $2,700. A breakout above $2,800 would end the two-month range and pave the way for higher prices. Bears would confirm a deeper pullback with a daily close below $2,500, and a drop to $2,350 would break the higher-low pattern and weaken the uptrend.

Shiba Inu (SHIB) Analysis

Shiba Inu is trading at $0.00000542 after a notable market correction. The recent candle erased most of the week's gains and pushed SHIB below the long-term black moving average at approximately $0.00000565. The support line, which had held for two weeks, is now broken, which is a warning sign. The price currently sits on the blue and cyan averages near $0.00000545, the first real test so far. The orange average, the next floor, is near $0.00000529. If it breaks, the next area is between $0.00000500 and $0.00000510, the final strong support that lasted through mid-September before the $0.00000474 low. The RSI is around 45, meaning sellers are still active.

Hyperliquid (HYPE) Analysis

Hyperliquid is pulling back to $85.76 from its $94 high but remains above all major moving averages with neutral momentum (RSI 47). Support at the $84 level holds, positioning this as a normal pullback in an uptrend.