The on-chain data looks okay, but this small rebound of SHIB, BTC, and XRP is probably coming to an end.

Recently, the market is filled with arch top formations, which is not a good sign. This pattern usually indicates that the upward momentum is about to fizzle out, and the bears are ready to take over the new week's market. At this speed, thinking about a V-shaped big rebound? Don't even think about it.

# The road to SHIB's recovery has been blocked.

Look at the chart of SHIB, any fantasies about a strong Rebound should wake up. That little improvement at the beginning of the month? To put it bluntly, it's just a dead cat bounce in a long decline. Now it's back to where it was before—those moving averages that have suppressed SHIB for nearly a year.

There’s nothing much to debate about from a technical perspective. The 50-day, 100-day, and 200-day moving averages are all pointing downwards, while the SHIB price is still lying below these averages. This configuration has clearly issued a bearish signal, and it isn’t even neutral. Any coin that is pressed down by these three moving averages has basically no chance of rebounding.

Just like every failed rebound since June, SHIB has once again hit the 50-day moving average and has stopped. This is a typical sign of a weak rebound and eventual failure.

The trading volume also indicates a problem. Although the price has risen slightly compared to the low point in November, the buying interest is pitifully weak. There is neither momentum nor signs of explosive volume or capital inflow. Generally speaking, when the market is about to reverse, the trading volume will significantly increase, but there is no such momentum at all right now.