XRP is currently in the spotlight as it is at a crucial moment in its market journey. After attempting to break through, XRP encountered resistance at the 26-day exponential moving average, hinting that the asset could be on the cusp of a possible pullback.
XRP is currently in the spotlight as it is at a crucial moment in its market journey. After attempting to break through, XRP encountered resistance at the 26-day exponential moving average, hinting that the asset could be on the cusp of a possible pullback.
XRP price action stopped at the 26 EMA, a level known for its dynamic resistance properties. This break is indicative of a possible shift in momentum, suggesting that sellers are regaining control after a period of buying activity. If this selling pressure persists, XRP could see its price decline towards the $0.50 mark, an important psychological and technical support level that has historically acted as a floor for the asset’s price.
The $0.50 support level is not just a round number that resonates psychologically with traders; It is also a region where buying interest has previously arisen, providing a cushion for the value of the asset. If
On the growth side, if XRP can generate enough buying pressure to overcome the resistance posed by the 26 EMA, there could be a chance for a recovery and a bullish move. A sustained break above this moving average could invalidate the bearish scenario and potentially pave the way for a move towards the next resistance near $0.56, where the 50-day EMA converges.
Shiba Inu bullish trend stops
The crypto community has been closely following Shiba Inu as its recent rally stalled, causing many to speculate about the token’s next move. Despite this setback, SHIB is currently between the 100 and 50 exponential moving averages on the daily chart, which could indicate a possible consolidation phase before the next bullish or bearish leg.
The 50-day EMA, situated at approximately $0.0000094, serves as the immediate resistance level for SHIB. This dynamic line has capped previous price attempts and will be the barrier SHIB must overcome to reignite its rally. In contrast, the 100-day EMA, positioned around $0.0000088, stands as a support level, providing a safety net where buying interest has historically emerged.
For growth, if SHIB breaks the resistance at the 50-day EMA and sustains above this level, it could signal renewed investor confidence, possibly driving the asset towards the next resistance at $0.000010. Such a scenario would require significant volume and positive sentiment to push SHIB beyond its current stagnation.
On the other hand, if SHIB fails to overcome the resistance and falls below the 100-day EMA, it could face a decline towards $0.0000080, where it could find more support. A price drop to this level could indicate that a deeper pullback is underway, which could shake out weak hands and allow accumulation by those who firmly believe in the asset’s long-term potential.
Bitcoin’s rise is not unfounded
Bitcoin has recently surpassed the crucial mark of $48,220. This recent breakout suggests that bullish sentiment has taken hold, but also introduces the possibility of a next correction or consolidation phase before possible additional gains.
A closer look at the BTC price chart reveals that the asset has indeed broken through a significant resistance level of $48,220. However, in the growth scenario, if Bitcoin consolidates above this new support and generates enough pressure, we could witness a continuation of the rally.
The next major resistance level lies around the psychologically significant $50,000 mark. A convincing move above this threshold could solidify Bitcoin’s position and invite a new wave of bullish momentum.
On the contrary, if Bitcoin pulls back and fails to hold the $48,220 level, it could see a price drop towards the next substantial support near the $45,000 region. This scenario could play out if the market experiences a sell-off by traders looking to capitalize on the recent rally or if broader economic factors catalyze a move away from risk assets.
Currently, the intersection of the 50-day and 100-day EMAs acts as a dynamic area of interest, potentially indicating where Bitcoin could find its footing during a pullback. Moving averages can serve as a litmus test for Bitcoin’s immediate directional bias.
