U.Today – While there are indications that selling pressure may be increasing, it continues to augment. September is usually a bear month for Bitcoin, but after September’s robust rally, the leading cryptocurrency is showing resilience, indicating that bulls are not ready to give up just yet.
The chart shows a steady rise in Bitcoin’s price, breaking above significant resistance levels that had previously kept the price low for several months. While there appears to have been a brief correction, the price has recently dropped slightly from the $65,000 level. It appears that the recent decline was a necessary correction that allowed Bitcoin to frosty before perhaps starting to rise again.
The fact that Bitcoin has managed to stay above significant support levels such as the $62,000 and $61,000 thresholds is a major factor in its strength. Due to the support provided by significant moving averages, these levels keep the asset stable and limit any significant short-term declines.
As long as Bitcoin continues to trade above these levels, the confident outlook will remain. Bitcoin’s upward trend continues despite recent selling pressure stemming from growing confidence in global markets. Investors are increasingly considering Bitcoin as a hedge and a high-performing asset as a result of the ongoing global easing of monetary policy and risk-on sentiment.
While some volatility is to be expected, Bitcoin’s price action indicates that the bulls are still in charge. The current setup appears poised for further gains, especially considering that October – dubbed Uptober by the cryptocurrency community – has been a historically robust month for Bitcoin.
revitalized
Shiba Inu is targeting a price target of $0.00002, which could be a key psychological and technical barrier for the meme coin. SHIB has rebounded from lower levels following a recent price rally driven by renewed investor interest and growth in its online business. Reaching the $0.00002 level, which is considered the next main target for this asset, may happen sooner than expected.
The upward trend of SHIB is supported by many factors. The initially discovered solid support at $0.000015 to $0.000016 serves as a basis for further expansion. These ranges are necessary to maintain the current bullish bias. The Shiba Inu is in a good position to aim for higher highs if they can stay above these levels. Additionally, the recent augment in trading volume and growing interest from institutional and retail investors lend credence to the $0.00002 price target.
To facilitate smoother price movement and a possible breakout, the market is receiving more liquidity as SHIB continues to attract attention. With this capital injection, Shiba Inu could reach the elusive $0.00002 mark sooner than many predicted.
Technically speaking, SHIB appears to be strengthening and recovering. The bullish reversal was signaled by the asset’s recent crossing of several significant moving averages, including the 26- and 100-EMA. The upward trajectory will not change as long as these moving averages provide support. But there are still difficulties. To fully confirm its trajectory towards $0.00002, SHIB needs to clear the immediate resistance levels at $0.000018 and $0.000019. Reaching the $0.00002 level in the near future will become quite possible once these levels are cleared.
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As the chart shows, Ethereum is currently trading at a critical level near $2,638. These assets are trying to rebound after a significant decline at the beginning of the year, but the fight to maintain momentum continues. Ethereum is currently at a turning point where bulls and bears are fighting for supremacy. The next significant price move will depend on how it behaves in the coming days.
The $2,600 mark, which serves as immediate support, is one of the most significant price levels to pay attention to. Since ETH has been tested several times recently, it needs to stay above this level to maintain a bullish outlook. The next target where the 200-EMA and other resistance levels converge is around $2,800 – if Ethereum can maintain its current level above this barrier.
Reaching this threshold could pave the way for a greater comeback. Ethereum could pull back to the $2,500 region or even lower towards $2,400, where there is stronger support, if it is unable to sustain current levels.
Ethereum’s ability to stay above the $2,600 and $2,800 levels will be crucial to its performance in the near future. A rally towards $3,000 and above is possible if bulls gain enough momentum to push ETH above $2,800. However, withdrawing support could pave the way for a longer period of consolidation and a deeper retreat.
