Warning: The opinions expressed by our writers are theirs and do not represent the views of U.TODAY. The financial and market information provided on U.TODAY is intended for information purposes only. U.TODAY is not responsible for the financial losses suffered during the exchange of cryptocurrencies. Perform your own research by contacting financial experts before making investment decisions. We believe that all the content is correct on the date of publication, but certain offers mentioned may no longer be available.
A mini cross of death has just been formed by Shiba Inusuggesting that there can be a downward momentum to come. An important technical event which has the potential to extend the current decrease trend is the crossing between the 26 EMA and the 200 EMA. This crossover is an important lowering indicator which frequently signals the start of more important corrections, even if it is not as frequently looked at as EMA and 200 EMA and 200 EMA death crosses.
In a traditional cross of death, a long -term lower momentum is indicated when the 50 EMA cross the 200 EMA. Although this can serve as a leading indicator for a greater price drop, the 26 EMA crossing 200 EMA indicates a short -term lowering feeling. This crossing indicates that Shib can be under pressure more down and has trouble maintaining its trend in the previous rise.
Shib is currently negotiating at around 0.00001942, indicating a modest rebound in its last stockings. However, a break could be difficult due to several levels of resistance in advance. First, short -term resistance at 0.000000206 complies with the 100 EMA. A level of resistance stronger than Shib must rape in order to stop the decline is $ 0.0000217. The critical level to which Salogner The previously lost momentum was $ 0.0000223.
Lowering, if the sales pressure increases, the following levels can serve as a possible support. The most recent local bottom, which was maintained for a short time before a slight rebound, was $ 0.0000180. Shib must keep $ 0.0000175, a higher level of support, to prevent another steep drop. The final significant support is $ 0.0000,160; A break below could lead to a more serious decline.
This mini-cross-training of death indicates that unless Salogner Can resume $ 0.0000217, its recovery may not last long. The downward trend can continue if buyers do not intervene, which can be tested $ 0.0000180 and less. This crossing indicates a change of momentum that traders should monitor, even if it is not as strong as the death cross EMA 50-200. In order to check if Shib can overcome the resistance or continue its decline, the upcoming trading sessions will be essential.
Dogecoin stabilizes
With strong support for $ 0.33, Dogecoin finally stopped its recent downward trend. In order to keep DOGE To dive into a more bearish territory, the 100 EMA played a decisive role in containing additional drops.
The 100 EMA, located at around $ 0.33, was successfully broken by DOGE after prolonged correction. This level turned out to be a crucial support area, preventing sellers from reducing prices. The recent price movement suggests that buyers have defended this region, which could open the way to a reversal or, at the very least, to a stabilization phase.
Related
At present, DOGE Negotiate between $ 0.33 and $ 0.34, but it must overcome a number of significant resistance levels to increase. DOGE must cross the immediate resistance to $ 0.35 in order to take a bullish dynamic. The following level of interest, which corresponds to previous rejection points, is $ 0.36. Dogecoin has historically had trouble organizing rallies in the resistance area from 0.38 to 0.40 $.
The RSI stabilizes despite the previous decrease trend, indicating a drop in sales pressure. The volume has also dropped, indicating a slowdown in the lower momentum. Slow recovery rather than another drop could start if Doge can keep its position above EMA 100.
Bitcoin does not climb
Since cryptocurrency is struggling to unravel significant resistance levels, its price action indicates possible problems. A short -term trend is technically confirmed by the most recent High High, which has been $ 104,600 after the local peak of $ 109,459. There may be concerns about an additional drop pressure if a lower upper high chain indicates a decreasing bond.
Related
Bitcoin is always firmly higher than a number of important levels of support, however, despite this apparent change. Two important areas of interest are still 50 EMAs at $ 101,400 and the 100 EMA at $ 92,464. In the past, these mobile averages have served as levels of dynamic support, which has stopped more serious corrections. The situation will remain stable if Bitcoin continues to negotiate above these supports.
Overcoming resistance to $ 104,600 is the main obstacle in front Bitcoin. Another attempt at $ 109,459 could be made if there is a clear break above this level, which would refute the argument of the downward trend. A retracement around 50 EMA, or even 100 EMAs, may be possible if the sellers maintain their pressure. A possible retest of the $ 99,394 support area should not be excluded.
Due to its history of stability, a drop below this level could expose Bitcoin to a more serious correction towards the 200 EMA at $ 82,610. Bitcoin still has a lot of support below, so unless the overall state of the market worsens, a complete collapse is questionable. Bitcoin is a turning point from a technical point of view. The prospects will become upward if the bulls take control and push over $ 104,600.