The crypto market is gearing up for heightened volatility once the weekend wraps up, with XRP, Shiba Inu and Ethereum all positioned for major moves. XRP appears ready to face one of its toughest market battles yet, while SHIB edges closer to the $0.00002 mark. Meanwhile, Ethereum traders are watching closely to see if ETH can reclaim the $4,000 level. Despite the looming tension, the weekend trading session is expected to remain relatively calm before potential price retracements begin.
Will XRP break triangle?
The descending triangle’s lower boundary, which could dictate its next significant directional move, is where XRP is hovering as it approaches one of its most pivotal points of the quarter. With its current structure, it appears that XRP is pushing the boundaries of market resilience, and the events of the next few days could influence its course for weeks to come.
Following a test of the $2.30 zone earlier this week, XRP is currently trading at about $2.46, having recovered somewhat. The overall technical picture is still tense in spite of this brief recovery. The daily chart shows that XRP is still moving in a descending triangle with a string of lower highs, which is a sign of ongoing bearish pressure. The final stronghold for buyers is the support base, which is located between $2.35 and $2.40.
Moving averages draw attention to the continuous battle. The 100-day (orange) and 50-day (blue) moving averages have already crossed lower, indicating a persistent bearish trend, while the 200-day moving average (black line) is situated just above the triangle’s resistance, close to $2.65. XRP may retest at $2.00 or even $1.80 if it fails to break below this consolidation range.
The Relative Strength Index (RSI), however, is currently at about 42, which allows for an upside reversal should buying momentum pick up steam. XRP may move toward $2.80-$3.00, a significant psychological barrier, if it breaks out above $2.55-$2.60, invalidating the bearish formation.
Given the current price compression and the likelihood of a volatility spike, XRP may make a quick and significant move in the future. Bears are closely observing any breakdown below the base of the triangle, while bulls must maintain the current support zone in order to maintain recovery hopes.
In summary, XRP is on the verge of its fiercest technical conflict to date, one that will determine whether the asset’s next phase starts with a recovery or more decline. This conflict is between sentiment and structure.
Shiba Inu at bottom?
After weeks of consolidation, Shiba Inu is starting to show a distinct bottom formation, suggesting that the asset may be getting ready for a significant rebound. After a steep decline earlier in October, the token has been trading steadily at around $0.0000102, suggesting that the worst may be over.
The current chart structure of SHIB suggests that a possible bullish reversal may be in the early stages. A double-bottom pattern, which is typically a basis for recovery, is being formed by the price. At $0.0000098, a crucial horizontal support level where buyers have regularly intervened to stop further declines, this pattern is beginning to take shape. Market participants are accumulating, potentially positioning themselves ahead of an upward move, as indicated by the holding power at this level.
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A key component of this arrangement is the volume profile, which indicates a decrease in selling activity and an increase in buying interest during small dips, which are frequently the first signs of a trend reversal. SHIB is close to oversold conditions but not yet exhausted, allowing for the development of upward momentum, according to the RSI, which is currently trading close to 41.
In order to prepare for a more extensive run toward $0.00002, the asset may accelerate its recovery toward $0.0000121 and possibly $0.0000130 if it is able to break above $0.0000119, the 50-day moving average. Although it seems far away on paper, if momentum returns and retail demand increases, that level might soon be relevant.
SHIB’s technicals indicate that a breakout is imminent — the question is not if, but when. The market is stabilizing, and the token is building a solid structural base. If bulls can hold onto current support and overcome resistance in the coming days, $0.00002 may be closer than it looks.
Ethereum recovery flashes
Following a volatile few weeks, Ethereum is once again exhibiting signs of a recovery, moving closer to the crucial $4,000 resistance level. The asset has gained momentum as the cryptocurrency market as a whole has rebounded, stabilizing above $3,900. More than just a psychological barrier, this level for investors signifies a pivotal conflict between short-term sellers and long-term supporters of Ethereum’s robust network.
In terms of technical analysis, ETH is trying to recover from the 50-day moving average (blue line), which has been acting as dynamic resistance lately. Both the orange 200-day moving average and the black 300-day moving average, which are markers of mid- to long-term strength, are being held above by the price. A possible transition from a corrective phase into a base-building stage is suggested by the current flattening out of these moving averages.
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This cautious optimism is reinforced by momentum indicators. Since ETH is not overbought or oversold, there is potential for growth according to the RSI, which is currently at 45. Ethereum may validate a short-term bullish reversal and pave the way for a move toward $4,250-$4,400 if it is able to push above $4,070-$4,100. Rekindled institutional interest and speculative buying may be triggered by that breakout market.
Nonetheless, the 200-day average is located in the risk zone below $3,750, which investors should also be mindful of. The present recovery structure would be deemed invalid in the event of a breakdown below it, which might also expose ETH to a more severe correction toward $3,500.
Essentially, Ethereum is at a turning point in its history, not quite free from structural resistance but close enough to a bullish recovery. Regaining $4,000 might happen sooner rather than later if buying pressure persists and macro sentiment levels out, setting up ETH for a possible retesting of the highs reached earlier this year.