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U.Today – indicates the possibility of a double-bottom reversal of a bullish chart pattern that could lead to a significant price retracement. The price of SHIB is testing important levels close to the 200 EMA, an important long-term support at the current price of $0.00002164, which supports the idea of a possible recovery.
With two retests and a breakout from the $0.00002079 level, SHIB price has formed a double-bottom pattern, indicating strong buying interest at this important support zone. 200 EMA is similar to this level, so traders and investors should pay close attention to it. If this pattern plays out well, it could pave the way for the price to move higher.
If the pattern holds, SHIB may first target resistance at $0.00002294 and then $0.00002314. The price may move to the $0.00002550 range, a critical level where SHIB can recover if these levels are broken, confirming the reversal.
But the rate is still relatively low, indicating that more market participation is needed to ensure it occurs. The RSI is currently at 43, suggesting there is room for growth without entering overbought territory. If the support at $0.00002079 is not met, the double bottom pattern may be considered invalid, which may lead to further declines.
SHIB may test lower levels in such a scenario, with $0.00002000 serving as the next important support. SHIB’s critical moment in this setup is represented by the 200 EMA and the double bottom pattern. As bullish momentum picks up, Mem Token may recover, providing opportunities for traders expecting a reversal. It will be crucial to closely monitor important levels and market conditions in the coming sessions.
He rises
The market capitalization of Ethereum, the second largest, has started to rise again after an extended period of decline. ETH has gained 2.83% in the past day and is currently trading at $3,310 after breaking through important support levels. The resistance nature of ETH has been shown in the recent price action, which successfully held the 200 EMA at $3,108, a critical long-term support level.
Bullish sentiment was sparked by this bounce, which brought the price closer to the 100 EMA at $3,265. The next highest resistance level is $3,500, and a clear break above this level could pave the way for further upside. For a long-term recovery, $3,700 is still a critical level to track above.
At 47 now, RSI shows neutral momentum. However, the recent increase indicates that it is possible to move in the direction of bullish territory. In addition, there was a modest increase, which lends credence to the idea that buyers are protecting important support zones. The reversal came after a major market selloff, in which Ethereum tested critical levels after failing to sustain momentum above $3,700.
As it tries to regain the trust of traders and investors, this recovery is crucial for ETH. If ETH fails to sustain the uptrend and falls below the 200 EMA, $3,000 as the next psychological support level could signal further downside. By regaining $3,500, on the other hand, the bullish sentiment will strengthen, and Ethereum will be ready to challenge higher levels in the coming weeks.
As its expanding adoption and network base continue to attract long-term investors, the latest action underscores Ethereum’s resilience amid market turmoil. For those hoping for a long-term recovery in the larger cryptocurrency market, ETH’s most recent surge is encouraging – although the road ahead may still be bumpy.
Is it renewed?
Following a period of reform, increased transaction volume is driving the top cryptocurrency higher, and Bitcoin is rising even more. At its current price of $96,949, Bitcoin is up 2.41% over the past day, suggesting a possible shift in market sentiment. The increased volume indicates renewed buying interest as the price action shows Bitcoin recovering from critical support levels near $92,000.
As Bitcoin tries to regain the $97,500 mark, which currently serves as short-term resistance, an increase in activity has been seen. If this level is successfully breached, confidence can increase further, as it can retest the psychologically significant $100,000 level.
With an RSI of 48, Bitcoin is currently in neutral territory, which means it has room to go higher without reaching overbought conditions. This is consistent with the observed increase in volume, which is an important indicator for investors to increase their interest. On the downside, the first critical support to track is still $92,000.
A retest of the $87,500 region, where the 100 EMA would provide additional support, could occur if this level is not met. If the price breaks below this level, it could signal a more significant correction that could target $78,124 near the 200 EMA. The recent surge is encouraging for Bitcoin as volume precedes major price movements.
