U.Today – is currently hovering near a key trendline support level, which puts it on the verge of a major breakdown. Any decline below this trend line could be problematic for the SHIB price as it is crucial to maintaining the asset’s growth trajectory. Market sentiment may deteriorate further if there is a acute decline below this trend line. However, there is a vivid side.
The 200 EMA is a forceful secondary support level that is just below the trend line. This could save SHIB from a complete price collapse. The Shiba Inu is one of many assets for which the 200 EMA has proven to be a reliable level of support in the past. The risk of a significant decline is somewhat reduced as long as the asset is able to maintain its position above this key threshold.
According to the price chart, Shiba Inu is generally rising, but momentum has slowed and only these significant support levels are currently observed. There could be some consolidation ahead of a possible rebound if price breaks below the trendline but remains above the 200 EMA. However, Shiba Inu may experience a longer decline if both of these thresholds are exceeded.
unpleasant comeback XRP’s return to the key price level last seen in July, August and September has caused stern trouble. Currently, the price of XRP is oscillating between $0.52 and $0.53, a range that was previously hard to recover from.
This may indicate a bearish retracement that could result in a more significant price drop. A return to this level suggests that XRP, which has only just begun to show signs of recovery, may have lost its bullish momentum. The asset is currently under more pressure and if the market does not move, there is a good chance that XRP will enter a more stern downtrend.
The situation becomes even more challenging due to overall market sentiment and XRP’s inability to stay above significant resistance levels. Nevertheless, there are still possible support levels for XRP that could save the day. The most prominent is the 200-day EMA, which is just below the current price. In the past, the EMA 200 indicator has provided a reliable level of support for various assets, including XRP.
If XRP holds above this level, it could stop a more significant pullback and allow time to consolidate before trying to rally again. A break above the 100 EMA, which is currently a resistance, could reignite bullish sentiment.
To ascertain whether the asset may stabilize or whether a more significant sell-off is imminent, traders need to keep a close eye on significant levels, particularly the 200 EMA, as XRP is currently in a precarious situation.
should stay forceful
The $66,600 level is where Bitcoin is currently trading and remains at a key support level. Since a drop below this level could jeopardize the asset’s recent surge in momentum, this level is crucial. If Bitcoin is unable to maintain its position above this level, it could return to a prolonged downtrend similar to what occurred earlier this year when it fell from a high of $73,000 to $52,000.
To maintain the bullish structure that Bitcoin is pursuing, a support level of $66,600 is necessary according to the current chart. A break below could indicate that buying pressure has decreased significantly, which would cause the price to decline further.
The next key support level for Bitcoin is the $64,000 range, which Bitcoin could easily return to if this occurs. The real risk for Bitcoin is that it could return to the $52,000 range, but below that it could find respite around $60,000. When Bitcoin breaks significant support or resistance levels, it usually moves with wide fluctuations. If the $66,600 level fails to hold, there could be a acute decline.
Conversely, the $70,000 barrier will be the next obstacle, and Bitcoin’s all-time high of $73,000 will occur if buyers intervene and drive the price up from there. Traders and investors are currently closely watching the $66,600 level. Bitcoin could re-enter a prolonged bear phase and fall to $60,000 or even lower if it is unable to maintain support at this level.
