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Optimism towards a meme coin has increased following the Shiba Inu’s recent rally above the 100 EMA at $0.0000230. But this rebound is still not sufficient to verify a legitimate trend reversal. While a positive move, the return to the 100 EMA is not enough to change the bearish sentiment that has dominated SHIB for weeks. A major problem that bothers SHIBRecovery is the decline in trading volume.
The lack of substantial buying interest suggests low trader conviction, even though the price is rising. Often, this price-volume gap indicates a fragile rally that might be difficult to sustain over time. It is necessary for SHIB to break above the 200 EMA, which is currently critical resistance near $0.0000250, to establish a significant trend change.
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The asset could move towards the $0.0000300 range, a psychological barrier if it closes above this level, indicating stronger bullish momentum. If SHIB is unable to sustain its position above 100 EMA, it may retest the support at $0.0000205. The bulls’ last line of defense would be the 200 EMA below.
A resumption of bearish pressure and invalidation of the recovery attempt could occur in the event of a breakdown below these levels. Even though SHIB’s recent downward trend has been halted by the rally, it is still far too early to consider a complete reversal.
Right now, SHIB is at a turning point and its future actions will likely determine the near-term outlook for the token. If volume remains low, traders should prepare for another pullback or wait for a break above $0.0000250 to confirm bullish strength.
Solana breaks through
With 13% of its value recovered during the last trading sessions, Solana is making a strong comeback. However, there were signs of resistance from sellers and the recovery was cautious. Significant selling pressure is reflected in the large upper shadow of recent candlestick patterns, suggesting difficulties for bulls trying to maintain upward momentum.
GROUND is currently trading near $196 and approaching the 200 EMA, a crucial resistance level. If this level is successfully breached, it could pave the way for a push towards $210, where more resistance lies. However, failure to exceed these levels could result in a retracement. The bulls have a safety net at $175, which is also the level that corresponds to the 100 EMA.
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The shadow of the candlestick, which shows increasing selling pressure, indicates market hesitation. This could be the result of profit-taking by short-term traders or a general lack of confidence in a long-term rally. The descending channel visible from the chart increases the degree of uncertainty as SOL needs to confirm a trend reversal with a clear breakout above the upper trendline.
Volume remains subdued, but a stronger rally could be fueled by increased buyer interest. The short-term price evolution of Solana depends on whether it can break through the $200-$210 range. A break above this level could signal the start of a longer recovery that could lead to $230.
Ethereum recovers
Since Ethereum recovered from crucial support levels near $3,200, its recent price movement has attracted attention. This recovery coincides with Ethereum regain its 50 EMA, a crucial technical indicator that is frequently interpreted as a momentum pivot. The possibility of a push towards the crucial psychological resistance of $4,000 has increased due to a breakout above this level.
Ethereum saw a gradual decline before rebounding, testing its strength at the resilient $3,200 range. If ETH manages to maintain its momentum, a recovery from this level would indicate the possible emergence of a new uptrend. As Ethereum targets $4,000 as the next major hurdle, a break above $3,500 could serve as the next confirmation.
In order to continue this gathering, Ethereum must first maintain its position above 50 EMA and consolidate above $3,500. This suggests that market participants have regained their confidence and interest in buying. A run towards $4,000 becomes feasible if these circumstances are met, with further resistance located near $4,200. However, there are dangers.
If the 50 EMA is not held, there could be a retracement towards $3,300 or even $3,050. Ethereum’s bullish breakout would be delayed by such a move, which could also indicate a prolonged consolidation. Ethereum’s ability to break through significant levels with robust volume support will determine much of its near-term progress. As the asset returns to bullish territory, the continued rally indicates that investors are watching it closely.
Ethereum could spark renewed optimism in the market and pave the way for new highs, if it manages to surpass $4,000. The speed of Ethereum’s next big move will be determined by immediate support at $3,300 and resistance at $3,500, so traders should monitor these levels in the meantime. The outlook is currently cautiously optimistic.