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Finally, XRP has broken through a crucial descending trendline resistance level, suggesting that a major bull rally may be about to begin. After weeks of consolidation in a narrowing and narrowing range, traders have a clear indication that momentum could reverse with this breakout. The recent rise above the $2.30 mark, which saw XRP close above the trendline and important moving averages, including the 50 EMA, validates the bullish sentiment. This level now provides a solid foundation for future development.
The next important resistance levels to watch if the bullish momentum continues are $2.50 and $2.70. With a successful push above these levels, XRP could target $3.00, a psychological barrier that could once again spark investor interest. The breakout volume is notable but not yet explosive, indicating that even if the breakout is legitimate, increased buying pressure could help the rally gain traction.
With an RSI of 59 at present, there is still an upside opportunity before the market becomes overbought. If XRP fails to maintain its position above $2.30, it could retest the descending trendline, which currently serves as support at around $2.20. But if this level is breached, the bullish scenario could be invalidated and the price could move towards the $2.00 level, which is in line with the 100 EMA. All things considered, XRPThe breakout of opens the way for a possible bullish rally, with $3.00 serving as a crucial long-term objective.
To check the strength of this breakout, traders should keep a close eye on volume and support levels. With the technical structure suggesting expansion, XRP could be gearing up for its next big step.
Shiba Inu forward
A head and shoulders pattern, a bearish structure that frequently hints at a possible move lower, is beginning to form on Shiba Inu. The asset is currently struggling near important support levels, so traders and investors should pay close attention to this trend.
Right away, SHIBThe price is trading near $0.0000200, just above the 200 EMA. Serving as a strong support area, this level stopped a massive sell-off. But the model’s neckline, which sits at around $0.0000215, remains crucial. In line with previous demand zones, a confirmed break below this level could lead to a significant move towards the next important support at $0.0000180.
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Immediate resistance to the upside is the $0.0000225 level. If this level is crossed, the downtrend can be considered invalid, allowing SHIB to retest $0.0000250. It would take significant buying pressure to break through this resistance level, which is in line with the 50 EMA.
Volume analysis shows that there is not much bullish momentum, which makes the current trend even more alarming. The RSI is also near 45, indicating neutral conditions with downside potential if sellers take control.
SHIB’s next move will be largely determined by price action around the neckline and 200 EMA, although the head-and-shoulders pattern is not yet fully confirmed. Since a breakout in either direction could result in significant price movement, traders should keep a close eye on these levels. For now, it is advisable to exercise caution and manage risks around these crucial levels.
Bitcoin needs to wake up
In terms of price movement, Bitcoin appears to be lagging other digital assets as the cryptocurrency king continues to be trapped in a low volatility phase. Traders and investors who anticipate strong directional movement are concerned about this stagnation. After an impressive rebound in late 2024, Bitcoin has struggled to maintain momentum and is currently trading around $94,000.
The lack of notable price movement stands in stark contrast to the more buoyant performance of other assets in the crypto market. Bitcoin was unable to attract traders or build confidence in a possible breakout due to this subdued activity. The price of Bitcoin is consolidating below 50 EMA, a crucial resistance level near $97,000, according to the daily chart.
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For there to be a possibility of an upward trend, this level must be breached. The support level at $87,700, which corresponds to the 100 EMA, still provides protection against further declines. A longer decline towards the 200 EMA at $78,000 could be in store if Bitcoin breaks below this level.
Although the RSI is currently at 45, indicating neutral sentiment, it also shows that Bitcoin does not have the momentum necessary for a significant move in either direction. Furthermore, trading volumes lower than the market average support the idea of a wait-and-see phase.