Shiba Inu’s inability to break above the 50 EMA is a problematic situation for the asset as it limits the potential that SHIB had in the current market recovery phase. Unfortunately, the lack of trading volume and inflows suggests that we will not see any change in the foreseeable future.
Shiba Inu’s inability to break above the 50 EMA is a problematic situation for the asset as it limits the potential that SHIB had in the current market recovery phase. Unfortunately, the lack of trading volume and inflows suggests that we will not see any change in the foreseeable future.
Analyzing the chart, Shiba Inu has been struggling to maintain bullish momentum. The 50 EMA, which acts as a significant resistance level, has proven to be a formidable barrier. SHIB’s repeated failures to break above this level indicate weak buying pressure, which is crucial for any sustained rally.
Additionally, Bollinger Bands show that SHIB is trading within a tight range, reflecting low volatility. This lack of movement is further compounded by low trading volumes, as seen on the volume bars. The MACD histogram is also in red, indicating bearish momentum.
One of the critical issues for Shiba Inu is the absence of significant inputs. The market seems to lack confidence in SHIB, which is crucial in driving up the price. Without new capital entering the market, the asset is unlikely to make substantial gains.
Solana gains strength
Solana has finally broken through the local resistance level of $172, indicating a possible imminent rise for the cryptocurrency. Fortunately, current market conditions appear favorable for a sustained reversal. This breakthrough could set the stage for further bullish momentum in the coming days.
The chart shows that Solana has been rising steadily, with strong support from the 50 EMA and 200 EMA acting as significant support levels. The recent price action indicates a strong bullish trend, with SOL gaining momentum by breaking the $172 resistance level. This move is pivotal as it opens the door for Solana to aim for higher targets, possibly reaching $200 in a near future.
Mushumir to the fullestThe volume profile also supports this bullish outlook, with increased buying volume accompanying the price increase. This indicates strong demand for SOL, which is essential to maintain the upward trajectory. The RSI is currently in the neutral zone, suggesting that there is still room for further price appreciation before entering overbought territory.
Bitcoin and Ethereum are also showing strength. This overall bullish sentiment may provide additional tailwinds for Solana, helping sustain its upward move. Potential targets for SOL are $190 and $200.
Ethereum needs another push
Ethereum did not deliver the performance that most expected of it, but in reality, it is very close to entering a substantial uptrend if it finally breaks the 50 EMA. Obviously, this requires a significant influx of purchasing power.
Analyzing the chart, Ethereum has been struggling to maintain bullish momentum for several weeks. The 50 EMA has acted as a significant resistance level, preventing ETH from achieving a more substantial uptrend. The current price level is around $3,100 which is crucial for Ethereum to advance and signal a strong bullish move.
Godfrey BenjaminBollinger Bands indicate that Ethereum is trading within a relatively tight range, reflecting low volatility. However, the recent green candles suggest that there is some buying interest, although still not enough to push ETH beyond the 50 EMA. For Ethereum to enter a bull market, a significant increase in trading volume is necessary. operations.
The RSI remains in the neutral zone, suggesting that there is still room for buying pressure without the asset becoming overbought. The MACD (Moving Average Convergence Divergence) histogram shows a slight bullish divergence, which could indicate a possible bullish move if the buying interest continues.
Ethereum’s performance has fallen behind expectations, especially compared to Bitcoin. The lack of significant inflows and investor confidence has prevented ETH from reaching its full potential during the recent market recovery phase. However, technical indicators suggest that Ethereum is on the verge of a breakout.
