PakGazette – It has finally broken through a crucial falling trendline resistance level, suggesting that a major bullish rally may be about to begin. After weeks of consolidation within a tightening range, traders have a clear indication that momentum may be building with this breakout. The recent rise above the $2.30 mark, which saw XRP close above the trend line and major moving averages including the 50 EMA, validates the bullish sentiment. This level now acts as a solid foundation for future development.
The next important resistance levels to pay attention to 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 pique investor interest once again. The breakout volume is noteworthy but not yet explosive, indicating that although the breakout is legitimate, further buying pressure could help the rally gain more traction.
With an RSI of 59 right now, there are still opportunities to make more gains before the market goes overbought. If XRP fails to maintain its position above $2.30, it may retest the descending trend line, which currently serves as support at around $2.20. But if this level is broken, the bullish scenario may be invalidated and the price may move towards the $2.00 level, which is in line with the 100-day EMA. Considering all this, XRP’s breakout paves the way for a possible bullish rally with $3.00 as a crucial long-term target.
To check the strength of this breakout, traders should keep an eye on the volume and support levels. As the technical structure suggests expansion, XRP could be gearing up for its next major move.
moving forward
A head and shoulders pattern is beginning to form in Shiba Inu, a bearish structure that often portends a possible move lower. The asset is currently struggling near important support levels, so traders and investors should pay close attention to this pattern.
Right now, SHIB price is trading near $0.0000200, just above the 200 EMA. Serving as a strong support zone, this level has stopped a more severe sell-off. But the neckline of the pattern, which is at around $0.0000215, remains crucial. In line with previous demand zones, a confirmed break below this level could lead to a strong move towards the next major support at $0.0000180.
The immediate resistance on the upside is the $0.0000225 level. If this level is broken, the bearish pattern may be considered invalid, allowing SHIB to retest $0.0000250. Significant buying pressure would be needed to overcome this resistance level, which is in line with the 50 EMA.
Volume analysis shows that there is not much bullish momentum, making the current pattern even more alarming. The RSI is also near 45, indicating neutral conditions with potential for declines if sellers take control.
SHIB’s next move will be largely determined by the price action around the neck line and the 200 EMA, although the head and shoulders pattern is not yet fully confirmed. Because a breakout in either direction could result in significant price movement, traders should keep an eye on these levels. For now, it is recommended to exercise caution and manage risk around these crucial levels.
has to wake up
In terms of price movement, Bitcoin appears to be lagging behind other digital assets as the king of cryptocurrencies continues to be stuck in a phase of low volatility. Traders and investors anticipating a strong directional move are starting to worry about this stagnation. After an impressive rally in late 2024, Bitcoin has struggled to maintain momentum and is currently trading around $94,000.
The absence of notable price movement stands in stark contrast to the more dynamic performance of other crypto market assets. Bitcoin has failed to attract traders or bolster confidence in a possible breakout due to this quiet activity. Bitcoin price is consolidating below the 50 EMA, a crucial resistance level near $97,000, according to the daily chart.
For there to be any chance of an uptrend, this level must be broken. The support level of $87,700, which corresponds to the 100-day EMA, remains a safeguard against further declines. There could be a longer decline towards the 200 EMA at $78,000 if Bitcoin falls below this.
Although the RSI is currently at 45, indicating neutral sentiment, it also shows that Bitcoin does not have the momentum needed for a significant move in either direction. Furthermore, trading volumes below the market average support the idea that it is in a wait-and-see phase.
