U.Today – The potential golden cross that has signaled huge asset price increases in the past is now slowly approaching. The golden cross pattern is gradually getting closer to reality as SHIB has been gaining momentum in recent weeks.
The market may take a more bullish position when the short-term moving average crosses the long-term moving average. The 50-day EMA for the Shiba Inu is currently approaching the 200-day EMA, which is an crucial part of the golden cross setup. This intersection could trigger an enhance in interest in novel purchases and enhance the SHIB if it happens.
While the gold cross itself does not guarantee price increases, many people see it as a sign of future growth, especially when accompanied by higher trading volume and improved market sentiment. As the asset has bounced off critical support levels and gradually gained strength, it has already shown some resilience.
While it is too early to tell whether this golden cross will lead to an immediate recovery, developments suggest that the Shiba Inu is still competitive. The golden cross can be a powerful indicator of more bullish momentum if it forms successfully in the coming days or weeks.
All eyes are currently on the key SHIB moving averages to see if they can maintain this upward trajectory towards the golden cross. The growth potential of a given asset may reignite interest in it and cause its price to enhance in the near future.
being under pressure
XRP is at risk of breaking below a key support level, which could lead to a more stern decline. For XRP, the support level around $0.50 has been crucial and has served as a barrier against additional declines on several occasions in the past. However, the probability of a crash increases when assets remain close to this level. There will likely be more bear pressure on XRP if it breaks below this critical support.
An asset’s downtrend is further indicated by an impending death cross, which occurs when short-term EMAs cross below longer-term EMAs. Death crosses have historically been a sign of mighty bearish trends, which could herald a much more severe correction in XRP in the future.
After falling below the $0.50 support level, the next critical support levels to watch are $0.45 and $0.42. While these levels may provide a short-term respite from selling pressure should a death cross materialize, they are unlikely to halt a prolonged downtrend. A death cross, along with a support break, could significantly reduce the likelihood that XRP will recover anytime soon.
Since the overall technical structure indicates that the trendline may not hold, the rising trendline on the chart provides little support. With key technical signals pointing lower and momentum weakening, XRP’s prospects appear increasingly dire unless support can be maintained above $0.50.
Before choosing its next course of action, XRP may experience some sideways consolidation if it is able to sustain at this level. However, taking into account current technical indicators, further deterioration seems more likely. Although the charts suggest otherwise, XRP holders will be watching the situation closely in hopes of a recovery.
still mighty
Recent price movements indicate that Bitcoin (BTC) is not ready to give up just yet and it looks like the cryptocurrency is making a comeback. Right now, Bitcoin is testing what was once the upper boundary of its long-term price channel. This key level, which was once a formidable resistance, can now serve as support, laying the foundation for Bitcoin’s price reversal and future growth.
Bitcoin has shown resilience in recent days, recovering from the key $65,000 level, which now appears to be a key support area. This could be the key point where Bitcoin grows. Successfully holding this level could signal a reversal and push the asset towards testing $73,000, the next key resistance level.
However, the fight is not over. Bitcoin continues to struggle to break higher to gain the traction it needs to remain stable above $65,000. The $62,800 figure is another critical level to keep an eye on; is located near the 100 EMA. Bitcoin may indicate a return to declines and possibly test lower support levels if it is unable to hold this area.
Overall, if Bitcoin is able to maintain its current support levels, its technical setup suggests room for more gains. A bullish continuation can now begin from the upper boundary of the descending channel. To determine whether Bitcoin is truly poised for a long-term recovery or if it faces further consolidation, investors will be keeping a close eye on these levels. Given these key levels, Bitcoin’s next moves will likely determine its development over the next few weeks.
