- Shiba Inu needs this
- Bitcoin: Movement begins
The fact that XRP has formally surpassed the $3 mark once more could signal the start of a significant recovery move, so it is not just a psychological win. XRP recovered convincingly after falling from its local high of about $3.70, finding solid support at the 26 EMA and breaking through important resistance levels. The speed of recovery is notable, bulls’ movement not hesitating.
More significantly, the price has closed above the critical $3 threshold and has already recovered to a higher low. This bounce is not accidental. As one of the few altcoins demonstrating initiative on a stagnating market, XRP has returned to prominence with its surge back above $3, which revalidates its medium-term bullish structure.
The move is also supported by the volume profile accumulation during the pullback period, and the recent increase in volume indicates that buyers were acting at the ideal time. With no overbought signals flashing, the RSI is progressively rising, giving it more room to continue.
What comes next? If momentum continues, a move toward $3.30 and ultimately a retest of $3.70 are possible outcomes. Beyond that, the July breakout level serves as the entry point to a completely different bull cycle leg. An indication of health is that the trendlines from past consolidations are serving as launchpads rather than resistance zones.
To put it briefly, XRP appears to have entered boost mode, which is the stage following a recovery in which price action and narrative converge. This rally is far from over as long as price remains above $2.90-$3.00 and volume does not stop increasing.
Shiba Inu needs this
Although Shiba Inu is treading carefully, it may be preparing for a price spike. The 50 EMA (orange line), which is presently at about $0.00001320, is the true obstacle that lies just ahead despite the recent short-term reversal from the local bottom around $0.00001160. SHIB’s dealings with the 50 EMA have historically served as pivotal moments. The start of a more extensive upward trend could be indicated by a clear break above this level.
The price is currently trading just below the crucial resistance level at $0.00001264, which has historically been a battleground and now represents the first barrier to bullish continuation. The catch is that the volume has flatlined. The market is not seeing significant participation despite the recovery. In the short term, this lack of momentum might prevent any significant breakout.
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A rejection from the 50 EMA is still a real possibility if there is not volume to support the move. As it sits close to 48, the RSI is nevertheless rebounding from oversold territory and has space to grow. This suggests that if sentiment news or inflows spur the market, it will be ready to move.
SHIB is prepared for a potential breakout when combined with the current structure, which includes a higher low and early indications of a reversal. The 50 EMA is located close to $0.00001320, after which there is immediate resistance at $0.00001264.
Support: $0.00001160 is still a crucial floor. Risk: There is not enough volume to support a breakout. Possibility: A move above the 50 EMA might shake up the market and draw in sidelined bulls.
The asset may accelerate toward $0.00001435 and beyond if SHIB breaks above $0.00001320 with strong volume. This is still a watch-and-wait situation, though, until buyers come in large numbers.
Bitcoin: Movement begins
At about $112,300, Bitcoin has successfully recovered from the 50-day EMA level, indicating the beginning of what may be its next significant move toward the $120,000 mark. In addition to being symbolic, the bounce occurred at a crucial technical point that frequently serves as a launchpad for sound upward trends. Bitcoin had previously benefited greatly from this level of support during its recent ascent. Holding it verifies that bullish momentum is still present.
Without going into overheated territory, the RSI has also recovered from the midline, suggesting a resurgence of buyer interest. Two scenarios that look ahead are then put into play.
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A seamless return to $120,000 is possible. If the bullish trend continues and Bitcoin keeps its support above the 50 EMA, the previous local high of about $120,000 will be the next resistance. A clear breakout above that would pave the way for all-time highs, particularly if the mood of the market as a whole is in agreement.
The ideal scenario would be a steady ascent bolstered by increasing volume, indicating sustained interest. Short-term consolidation is the second scenario. As it gains strength, Bitcoin might instead trade in the range of $112,000 to $120,000. A range-bound structure would be used, allowing altcoins to grow while Bitcoin gradually grinds upward.
A longer period of consolidation in this area would be beneficial and set the stage for a more robust breakout later in the quarter. Traders should watch out for false breakouts because the volume is still a little low. Nonetheless, a strong indication of underlying strength is when Bitcoin remains above important moving averages. Bitcoin looks set to make another legitimate run at $120,000, possibly sooner than anticipated unless macro conditions worsen or volume completely stops.