Shiba Inu trading volume is showing upward momentum, suggesting a critical reversal. This surge in volume suggests growing interest in the asset, potentially signaling a change in market sentiment based on recent price chart data.
SHIB has experienced a retreat as a result of failing to break through a local resistance level. However, a more important event is taking place: a higher low is being formed. For SHIB, the formation of this higher low is encouraging as it shows that the long-term downtrend may finally be ending.
If this trend continues, a higher low could signal the start of a longer recovery for Shiba Inu. Higher lows usually signal a shift in power dynamics from sellers to buyers. Monitoring transaction volume among large investors is another important consideration.
SHIB price direction could be significantly impacted by this whale activity. Whale accumulation could provide the necessary buying pressure to break current resistance levels if it holds or intensifies. In the near term, watch these three critical price levels for SHIB: The local resistance level at $0.0000135 is the one SHIB is currently attempting to break.
A strong bullish trend will be indicated by a move above this level. SHIB must break this critical resistance level of $0.00001712 to confirm the long-term bullish trend. By attracting more customers, breaking this barrier will likely push the price higher. The critical support level of $0.00001124 must be maintained for SHIB to continue moving higher. Another bearish move could occur as a result of a break below this level.
Toncoin rollback has passed
Although it had been showing a strong upward trajectory and seemed to have breakout potential, Toncoin was recently brutally rejected at $5.5. Many traders were expecting Toncoin to break through significant resistance levels after one of the biggest price increases in the entire digital asset market.
However, TON bulls were forced to fight as the market had other ideas and the bullish momentum soon dissipated. Although the digital asset has performed exceptionally well recently, the $5.50 rejection indicates that the market is still under strong selling pressure at higher prices. Resistance at $5.50, as shown on the chart, has proven to be a key area of contention. Toncoin quickly reversed course after reaching this level, suggesting that sellers are still in control of the market at these prices.
The falling volume was one of the main reasons for this sharp change. There seemed to be little interest in further buying as Toncoin trading volume dropped as it approached $5.05. The price quickly dropped and was rejected sharply as there was not enough volume to break through the resistance.
The next important level to watch for Toncoin is around $5. Whether the asset can regain its bullish momentum or continue its downward trajectory will largely be determined by this psychological support level. The critical level that needs to be maintained below this to stop further declines is the $4.50 support level.
XRP Triangle Formation
As you can see from the chart, XRP is forming a key symmetrical triangle, which often marks a period of consolidation before a significant price move. The asset’s lower highs and higher lows combine to form two converging trend lines, which is how this pattern is formed.
Traders’ expectations typically include a breakout that can determine the direction of the next significant price move as the asset approaches the top of the triangle. For XRP in particular, the triangle formation is significant because it suggests that volatility is declining and a significant move is expected.
When XRP reaches the end of this pattern, let’s consider two possible outcomes:
Positive outlook: A bullish continuation could be indicated by XRP breaking out of the triangle above, with the price likely to move towards the upper resistance levels around $0.58 and sometimes even higher. In this case, $0.55 would be the first target, with $0.58 being the next significant resistance level to watch. The next psychological level could be $0.60 if XRP can break above $0.58.
Bearish Scenario: Conversely, a bearish breakout could be indicated if XRP fails to hold the lower boundary of the triangle.
Under these circumstances, it is likely that XRP will pull back to support levels around $0.52 and then to $0.50, which has historically served as a significant support level. Market sentiment could turn negative or the overall crypto market could fall, leading to a deeper sell-off with a potential decline to the $0.48 area if the price drops below $0.50.
