The resilience that XRP has displayed has been mighty. It perfectly tested its 200-day exponential moving average (EMA) three times, which adds even more to its structural beauty. Ethereum outlook – bullish The Ethereum price is bullish and is looking set for a golden cross as long as the key support levels hold. Shiba Inu (SHIB) is in a very important turning point at the moment. It endangers a psychological tipping point that could otherwise double its value.
XRP's Successful EMA Tests
XRP has avoided falling into a dangerous technical zone by holding above the 200-day EMA (exponential moving average). This is an important barometer for gauging long-term trends and possible ceilings of support. The cryptocurrency has successfully tested this level three times, demonstrating its capacity to withstand selling pressure and maintain its position.
These three re-tests off the 200 EMA could actually be important as they add additional bullish structural integrity to XRP. It can indicate that buyers are beginning to aggressively enter the market to prop up the price at this level. This resilience bodes well for XRP, as it could see a strong recovery should the broader market stay stable.
Should XRP successfully turn its 50 and 100 EMA levels, approximately between $2.25 and $2.30, into solid support, it could quickly retest the $2.60-$2.70 range. This would be a significant amount of move up and an affirmation of its bullish run.
Ethereum's Bullish Potential
Ethereum is trading around $2,521, showing remarkable tenacity in the face of recent market upheaval. Despite notable highs and volatility, the cryptocurrency has held its ground, a sign of healthy underlying demand and investor confidence. Ether’s volume is strong, there haven’t been any major sell-offs in the past few days. This would indicate that investors are huddling their ether, expecting more upside on the table.
The Relative Strength Index (RSI) for Ethereum is just under 50, showing a neutral momentum. That said, a bullish crossover is all but guaranteed if Ethereum remains above key support between $2,450 and $2,500. This crossover, where the 50-day moving average crosses above the 200-day moving average, is a strong indicator of a potential upward trend.
To remain on this bullish path, Ethereum should not drop below the 100 EMA. A break below this mark would be the first sign that the positive trend may be weakening, with the possibility of more spacious drops to come. Holding this level is very important for Ethereum to continue its bullish movement and achieve its bullish potential.
Shiba Inu's Critical Moment
Shiba Inu (SHIB) is dancing on the edge of a monumental psychological cliff. This model is often referred to as the “adding a zero” model. This phenomenon happens when a cryptocurrency’s price drops low enough to put a new zero in front of its decimal value. Such a drop can trigger panic selling and increase bearish sentiment across the market. Technical indicators have flamed Shiba Inu bulls as the cryptocurrency has broken the support zone at $0.00001231. This important milestone served as a buffer against negative momentum.
Shiba Inu has since lost the previous bullish support zone. It’s been quite resilient, having recently rebounded from the lower bound of a well-defined upward sloping channel. This tells us that there is still a healthy amount of demand willing to step in at cheaper prices. The overall sentiment remains fragile.
Another bullish consideration is that Shiba Inu is managing to stay above its 100 EMA. With the hard zone of support now broken, the question is how stable it is in the short-term. The next few days will be indicative for SHIB. We’ll be following it closely as it charts this new, crucial crossroads and tries to get back on its remarkable track.
