Game Over for Bears? Shiba Inu (SHIB) Bounces Back From Grave, Ethereum (ETH) Ready to Explode Past $4,000
The post Game Over for Bears? Shiba Inu (SHIB) Bounces Back From Grave, Ethereum (ETH) Ready to Explode Past $4,000 appeared on BitcoinEthereumNews.com. Shiba Inu recovers Ethereum’s possibilities A potential reversal of XRP could signal the end of the current bear market. XRP has found stability in the $3.10-$3.20 range following a significant correction from its local high above $3.60. With the price stabilizing above the 20-day EMA, the most recent daily candles demonstrate a strong defense of support, indicating that bulls are not relinquishing control easily. As can be seen from the chart, XRP has been able to hold its position above important moving averages such as the 50-day and 100-day EMAs. The asset is still firmly within a larger uptrend as indicated by the 200-day EMA’s position far below the current price action. With the RSI hovering around 61 after cooling off from overbought territory, there is still opportunity for another leg up without going into the risk zone of excessive overheating. XRP/USDT Chart by TradingView As is common following a high-volatility move, volume has declined from the most recent peak. The fact that this consolidation has taken place without a lot of selling pressure, however, suggests that the recent decline was more of a breather than a change in direction. The reversal might develop into a full-fledged continuation of the bullish structure if XRP is able to break above $3.30 with fresh volume. The bears would also be in a difficult position because they were unable to lower the asset below the crucial psychological support of $3. In conclusion, the current situation indicates that XRP is at a pivotal juncture. The lack of strong sell-offs and the bullish inclination of the indicators support the idea of a reversal. Although it’s too soon to declare a breakout, bears should exercise caution because if momentum rises above the current range, the market might soon make their thesis irrelevant. Shiba Inu recovers After…
The post Game Over for Bears? Shiba Inu (SHIB) Bounces Back From Grave, Ethereum (ETH) Ready to Explode Past $4,000 appeared on BitcoinEthereumNews.com.
Shiba Inu recovers Ethereum’s possibilities A potential reversal of XRP could signal the end of the current bear market. XRP has found stability in the $3.10-$3.20 range following a significant correction from its local high above $3.60. With the price stabilizing above the 20-day EMA, the most recent daily candles demonstrate a strong defense of support, indicating that bulls are not relinquishing control easily. As can be seen from the chart, XRP has been able to hold its position above important moving averages such as the 50-day and 100-day EMAs. The asset is still firmly within a larger uptrend as indicated by the 200-day EMA’s position far below the current price action. With the RSI hovering around 61 after cooling off from overbought territory, there is still opportunity for another leg up without going into the risk zone of excessive overheating. XRP/USDT Chart by TradingView As is common following a high-volatility move, volume has declined from the most recent peak. The fact that this consolidation has taken place without a lot of selling pressure, however, suggests that the recent decline was more of a breather than a change in direction. The reversal might develop into a full-fledged continuation of the bullish structure if XRP is able to break above $3.30 with fresh volume. The bears would also be in a difficult position because they were unable to lower the asset below the crucial psychological support of $3. In conclusion, the current situation indicates that XRP is at a pivotal juncture. The lack of strong sell-offs and the bullish inclination of the indicators support the idea of a reversal. Although it’s too soon to declare a breakout, bears should exercise caution because if momentum rises above the current range, the market might soon make their thesis irrelevant. Shiba Inu recovers After…
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