U.Today – A significant technical event recently occurred related to: the intersection of the 50-day and 100-day exponential moving averages (EMAs). While not a well-known golden cross – a 50-day break above the 200-day EMA – this crossover is nonetheless significant.
When the 50-EMA crosses the 100-EMA, it often indicates that the market is moving in a positive direction and that the short-term outlook for the asset is improving compared to the medium-term trend. Despite not getting the same buzz as the gold cross, this hidden cross can promote bullish sentiment.
When short-term purchasing interest outpaces the long-term trend, such intersections usually signal a change in dynamics. Traders looking for entry points during periods of strength may pay more attention to this change. Bitcoin is currently holding levels above the upper boundary of the previous bearish price channel that has now turned into support, consolidating above the critical resistance level near $65,000.
A gradual move towards higher targets could be triggered if Bitcoin maintains its position above this range. The positive changes around Bitcoin go beyond its technical aspects. The demand for Bitcoin ETFs is growing internationally, contributing to increased market interest in digital assets. Institutions, immense holders and individual investors are closely monitoring these potential catalysts, assessing their market position.
The recent 50-100 EMA crossover indicates increasing momentum in Bitcoin’s price structure, which is a subtle but encouraging sign. The price could eventually support a more significant rally and approach the next vital resistance level at $70,000 if Bitcoin maintains its upward momentum and trading volume increases.
getting ready
With more price swings over the past day, the Shiba Inu is showing signs of a possible volatility explosion. The convergence of critical moving averages, a technical setup that often predicts upcoming price changes, may be linked to this spike in volatility.
The SHIB price is currently negotiating an area where the 50, 100 and 200 day exponential moving averages are approaching. These moving averages usually signal tightening price action when they converge, which can serve as a pressure point for a breakout or breakdown.
This convergence is a key signal for SHIB and could herald a significant pullback or another rally. Bulls seem keen to maintain the upward momentum as the price has surged on recent buying interest. However, if buyers lose steam, a convergence of the EMA near the current price level increases the chance of a pullout.
Adding to the pressure is the fact that the cryptocurrency market as a whole is showing conflicting sentiments, with some assets rising while others are struggling to maintain gains. Due to its high degree of volatility, the price of SHIB may be more subject to market-wide fluctuations.
With the $0.000017 and $0.0000163 price zones serving as immediate failure points, a possible pullback could force SHIB towards lower support levels. Conversely, if SHIB is able to maintain its current strength and overcome resistance, it could attempt to reach previous highs, albeit with significant opposition.
I need this jump
The extremely resilient Solana continues to rise and approaches the key $200 mark. SOL appears to be looking to hit $200 as its next significant target after breaking through the $160 resistance. As assets have struggled to reclaim this territory since the last summit, this milestone is not just symbolic; represents a significant psychological and technical level.
Based on analysis of SOL’s recent price action, the upside momentum appears to be continuing unabated, supported by the recent break of vital resistance levels at $150 and $160. While Solana’s recent upward momentum suggests the market is getting stronger, these areas have been formidable headwinds for weeks.
Nevertheless, there will be difficulties in reaching $200. A number of significant obstacles may hinder the development of SOL. The immediate barrier where historical price action indicates significant selling pressure is the $185 level; $200 would be within reach if there was a clear break above this resistance, but bulls would need to maintain volume and buying interest to prevail.
Another encouraging factor is the convergence of moving averages, especially the 50-day and 100-day EMAs, below current price levels. This alignment creates a base from which the SOL can gain strength and eventually break through overhead obstacles.
