Shiba Inu hits a higher high on the charts, indicating a possible reversal in investor sentiment and market dynamics. After a period of consolidation, SHIB has broken above previous resistance levels.
Shiba Inu hits a higher high on the charts, indicating a possible reversal in investor sentiment and market dynamics. After a period of consolidation, SHIB has broken above previous resistance levels.
SHIB price has broken through a critical resistance level, now making it a support that traders should keep an eye on. This new support sits around the $0.000022 mark. If SHIB price pulls back, this level could play a crucial role in sustaining the current bullish momentum. On the other hand, resistance lies near the $0.000028 level, breaking which could pave the way for further gains.
Shiba Inu has recently reached a new level, which is quite important. This shows that people are willing to buy more even when prices drop, suggesting that they believe in a reversal for the foreseeable future. Prior to this, SHIB’s price was consolidating, so this upward move has made those who like SHIB hopeful that its value can continue to rise.
XRP secures the golden cross
XRP has unexpectedly secured the formation of the golden cross. This occurs when a shorter-term moving average crosses a longer-term moving average, typically indicating potential for significant price increases.
The daily price chart has shown the 50-day moving average surpassing the 200-day moving average, a sign of substantial growth. The golden cross could potentially lead to an uptrend as it may attract more buying pressure.
The recent drop to the support level around $0.50 was met with a strong buyback, pushing the price to a higher high. As another higher high is painted, XRP could finally enter a prolonged uptrend and reverse for good.
In terms of growth scenarios, XRP could test and possibly surpass the aforementioned resistance level. This would open the way to $0.70, and consolidation around that price level would become the basis for growth towards $1.
While the formation of the golden cross has historically been a reliable indicator of growth, it is not a guaranteed predictor of future price movements.
The Hidden Bitcoin Pattern
Bitcoin gives us something to talk about as the charts hint at a hidden pattern that could mean good news for investors. An inverted head and shoulders pattern has formed on the four-hour chart, which is often considered a positive sign.
If we look closely at the numbers, Bitcoin has shown us a bottom, known as a “head,” at around $62,430, which is a key level for Bitcoin. After that, it rose and fell again to form the “shoulders” at around $68,000, but not as low as the head. This is important because it shows that Bitcoin does not want to go down from that main level.
The exciting thing is that Bitcoin is now going up, reaching what we call a “higher high.” The price to watch is $64,433, because if Bitcoin can surpass this point and stay there, it could herald the start of a major bullish move.
If we imagine the future for a moment, one growth scenario would be for Bitcoin to surpass that $68,000 level. If it can stay above that, the next stop could be towards $69,000, which would be a new challenge for Bitcoin to overcome.
But remember, Bitcoin can be unpredictable, especially after a severe correction like the last one we saw on the chart. The unexpected drop to $70,000 clearly became a reason for speculation about the future of this rally and the potential that digital gold can show in 2024. Recently, top analysts at Bernstein set the target price level for Bitcoin at $90,000 by the end of the year. year.
