Shiba Inu (SHIB): This Was Unexpected, XRP Now Finally Ready, Ethereum (ETH): Skyrocketing Comeback
The post Shiba Inu (SHIB): This Was Unexpected, XRP Now Finally Ready, Ethereum (ETH): Skyrocketing Comeback appeared on BitcoinEthereumNews.com. XRP’s Immediate Surge Ethereum regains power The recent price action of Shiba Inu has caught traders off guard. SHIB was rejected in early June after briefly regaining the 50-day EMA (around $0.00001418 USDT) after flirting with the 100-day EMA (around $0.00001392 USDT). It is currently trading just above its long-term support at about $0.00001200 USDT. Investors were not prepared for this narrow trading range, which is positioned between firm support and obstinate resistance after a definite impulse leg higher in May. Buyers are still willing to defend that floor, as evidenced by the bounce off the $0.00001200 level, but it is concerning that there was little follow-through volume on the uptick. Neither side is committing capital in force, as evidenced by the daily volume tapering off. SHIB/USDT Chart by TradingView The fact that SHIB is still below the 50, 100 and 200-day EMA’s — all of which slope downward and support the current bearish trend — makes that especially problematic. Moreover, the RSI presents a cautious image. It suggests that the momentum is still leaning toward sellers as it sits close to 45. It is probable that a prolonged decline below $0.00001200 would intensify selling pressure and pave the way for a retest of the March lows around $0.00001050. Alternatively the first step toward a real trend reversal would be if SHIB could force a clear close above $0.00001392 over the course of the next few sessions, ideally with a volume pickup. XRP’s Immediate Surge Lately XRP has risen sharply, decisively surpassing the 50-day (orange line) and 100-day (blue line) exponential moving averages. This is a significant development because rising above these important EMAs is frequently seen as a technical green light that indicates a possible market recovery and bullish momentum. The price holding above the 200-day EMA (black line)…
The post Shiba Inu (SHIB): This Was Unexpected, XRP Now Finally Ready, Ethereum (ETH): Skyrocketing Comeback appeared on BitcoinEthereumNews.com.
XRP’s Immediate Surge Ethereum regains power The recent price action of Shiba Inu has caught traders off guard. SHIB was rejected in early June after briefly regaining the 50-day EMA (around $0.00001418 USDT) after flirting with the 100-day EMA (around $0.00001392 USDT). It is currently trading just above its long-term support at about $0.00001200 USDT. Investors were not prepared for this narrow trading range, which is positioned between firm support and obstinate resistance after a definite impulse leg higher in May. Buyers are still willing to defend that floor, as evidenced by the bounce off the $0.00001200 level, but it is concerning that there was little follow-through volume on the uptick. Neither side is committing capital in force, as evidenced by the daily volume tapering off. SHIB/USDT Chart by TradingView The fact that SHIB is still below the 50, 100 and 200-day EMA’s — all of which slope downward and support the current bearish trend — makes that especially problematic. Moreover, the RSI presents a cautious image. It suggests that the momentum is still leaning toward sellers as it sits close to 45. It is probable that a prolonged decline below $0.00001200 would intensify selling pressure and pave the way for a retest of the March lows around $0.00001050. Alternatively the first step toward a real trend reversal would be if SHIB could force a clear close above $0.00001392 over the course of the next few sessions, ideally with a volume pickup. XRP’s Immediate Surge Lately XRP has risen sharply, decisively surpassing the 50-day (orange line) and 100-day (blue line) exponential moving averages. This is a significant development because rising above these important EMAs is frequently seen as a technical green light that indicates a possible market recovery and bullish momentum. The price holding above the 200-day EMA (black line)…
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