Shiba Inu price defends yearly lows as engulfing candle signals structural shift

Bitcoin has rebounded above a key resistance level, recovering from recent selling pressure, although institutional selling persists amid significant ETF outflows. This recovery comes as Bitcoin's price has recently stabilized around the $86,000 mark after a modest bounce, reflecting mixed technical signals.

Ethereum's mainnet has raised its block gas limit to 60 million, marking the highest level in four years, as reported by network data. This increase is seen as a significant step in enhancing the network's capacity and efficiency ahead of the anticipated Fusaka upgrade.

XRP, the digital token linked to Ripple, has experienced an 18% decline this month, nearing significant support levels as market data indicates a drop to a six-week low of $2.12. This downturn reflects reduced trading activity and profit-taking pressures within the cryptocurrency market.

Ripple's XRP has seen a significant decline in market capitalization, dropping from nearly $200 billion earlier this year to approximately $131 billion, as key XRP Ledger network metrics show a downward trend. This has raised concerns among investors regarding the cryptocurrency's stability and future performance.

Cardano's price has been experiencing a slow recovery as it approaches the anticipated Midnight launch, despite recent sell-offs that reflect broader market trends. The cryptocurrency's price has faced significant challenges, including a notable decline from its previous highs.

WLFI's price has recently printed a bearish swing failure pattern (SFP) after sweeping significant liquidity at its swing high, indicating a heightened risk of further declines if it cannot reclaim critical value area levels. This development follows a broader trend of negative sentiment surrounding the cryptocurrency market.

Dogecoin price has shown resilience by defending the $0.14 support level, indicating early signs of strength as a potential three-drives reversal pattern develops, suggesting a shift in market sentiment.

Ethereum is currently retesting key resistance levels after a notable correction, with analysts anticipating the upcoming Fusaka upgrade on December 3 as a potential catalyst for a rally. This follows a challenging November where Ethereum faced a 26% decline amidst broader market pressures.