Ethereum
Is XRP Ready for $0.7? Shiba Inu (SHIB) Poised to Break to $0.00002, Ethereum (ETH) Trend Reversal Halted
Arman Shirinyan
Market recovery continues, with many assets reaching significant thresholds
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XRP A 30% surge has put the asset at the forefront of the bull market, with the potential to reach even higher, potentially hitting this year’s high of $0.7, but many factors are expected to align in its favor.
Over the past few days, XRP has shown remarkable strength, breaking through major resistance levels and sparking interest from the crypto community. While many are wondering if this momentum can push XRP even closer to $0.7, the rally has brought the cryptocurrency very close to a critical threshold.
There are many signs that suggest that it is possible that XRP The price of the asset will continue to rise. First, the trading volume around this asset has seen a notable increase, suggesting that investors are actively participating. As more market participants join in the rally, this increase in volume often precedes subsequent price increases.
Furthermore, technical research reveals that XRP has overcome a number of resistance levels and converted them into support. The previous thresholds at the $0.52 and $0.54 levels are now acting as support, giving the next leg of the rise a solid foundation. Major cryptocurrencies like Ethereum and Bitcoin are also recording gains, and the market attitude towards cryptocurrencies is currently generally positive. This general bullish trend in the market makes it easier for XRP to take advantage of the upward momentum.
The Shiba Inu regains important positions
Shiba Inu is approaching the $0.00002 price threshold, which could be the asset’s next move as it is already trading near the monthly high. The asset’s main problem at the moment, however, is the lack of momentum.
With steady climbs towards the $0.00002 mark, SHIB has demonstrated a comeback over the past few days. This level is a major psychological hurdle for investors and traders. Breaking above this barrier could open the door for further gains and possibly trigger a larger rally. Technical indicators show that SHIB has overcome a resistance level at 100 EMA.
The asset is currently facing resistance at the 200 EMA, which could be a major hurdle. Additionally, the Relative Strength Index (RSI) is approaching the overbought zone, indicating that the current rally could be running out of steam. Despite this improvement, trading volume remains low compared to previous peaks.
There is cause for concern as this low trading activity suggests that market interest may not be sufficient to sustain the current price movement. An increase in volume would be needed to give SHIB the momentum it needs to continue its advance. path.
Ethereum shuts down
Ethereum has hit the 50 EMA resistance level and could now retrace below key levels like $3,300. Fortunately, we have seen an increase in volume, which could be a sign of an upcoming reversal.
Ethereum Ethereum has suffered a setback after its recent rally brought it close to the 50 EMA resistance level. At $3,300, a critical support level, the asset is currently struggling to hold its ground. The 50 EMA presents a significant challenge because, if not definitively broken, it frequently acts as a barrier that can halt upward momentum. The increase in trading volume is one of the positive aspects of Ethereum’s current market activity.
Stronger trader interest and participation is often indicated by an increase in volume, which can lead to more persistent price movements. The increase may suggest that buyers are entering the market, which could lead to a reversal.
We could see a further retracement of the asset, possibly testing lower support levels like $3,200 or even $3,000. This could happen if the asset is unable to hold its position above $3,300. Additionally, it is worth keeping an eye on the Relative Strength Index, which can reveal whether an asset is overbought or oversold and offer insights into potential future price movements.
About the Author
Arman Shirinyan
Arman Shirinyan is a trader, crypto enthusiast and SMM expert with over four years of experience.
Arman strongly believes that cryptocurrencies and blockchain will be of constant use in the future. Currently, he focuses on news, articles with in-depth analysis of crypto projects, and technical analysis of cryptocurrency trading pairs.