BTC Hits $100,000: XRP Level Reached, Projected $3 Price Soar; Shiba Inu (SHIB) Rebounds, Bull Run Commences?
Unfiltered Asset Updates
- XRP almost breaches the big barrier!
- Bitcoin's next stop: $105k or more?
After a significant test, XRP is poised to shatter a major resistance level that could trigger a long-anticipated rally. Right now, XRP is squaring off against the 100 EMA, a frequent turning point in the asset's past. With XRP currently trading at roughly $2.18, the stakes are high – this test could set the stage for a recovery. XRP has found solid support near the $2 mark and is now targeting the 100 EMA (around $2.21). As momentum builds and a clear pattern emerges on the chart, a surge toward the descending trendline around $2.50 is within reach. If the momentum holds, $3 could be in sight, with a clear break above that level potentially causing a shift in sentiment. However, volume still remains a concern due to the lack of a noticeable uptick.
Meanwhile, Goldman Sachs has bet big on Bitcoin with a $1.4 billion investment via BlackRock's ETF. Shiba Inu is also showing signs of recovery, having bounced back strongly after dipping towards the $0.0000127 support level. SHIB has jumped over its 50 EMA, a crucial dynamic support level on the daily chart. This bounce off the 50 EMA signals increased buying pressure at this important trend zone. The primary hurdle for SHIB right now is the 100 EMA, currently trading around $0.000014. Regaining this moving average would be a bullish sign, especially if accompanied by a volume spike, which could signal a trend reversal following months of decline.
Lastly, Bitcoin has finally touched the elusive $100,000 mark. The crypto giant is now testing this significant resistance zone after months of choppy price action and consolidation. The current chart structure suggests the formation of a cup and handle pattern, which, if validated, could propel Bitcoin towards the next major levels of $105,000 and $110,000. However, due to round number psychology, gaps in liquidity, and speculative overextension, the $100,000 mark is a significant resistance level. If Bitcoin can't break above $100,000 with conviction, it may cool off and retreat towards $92,000 or even $89,000, in line with the 100-day EMA. Nevertheless, the long-term uptrend will persist as long as Bitcoin remains above these important averages. The $100,000 level is much more than just a number at this point – it's a turning point that will shape the market's trajectory over the coming months.
#XRP #Shiba Inu #Bitcoin
Insights: XRP pulses with bullish signals, with the potential for significant price discovery ahead. Shiba Inu's bull run has been canceled or is under question, indicating weak price momentum. Bitcoin’s bullish trend is crucial to supporting altcoin rallies like XRP’s; if Bitcoin remains positive, it could further propel altcoins upwards [1].
Extra Info:
[1] Glassock, D. (2021, May 6). XRP could soar to $5.81 over the next four years, according to Denis Glassock, founder of Goldfinger Trading. Retrieved from https://utoday.news/news/xrp-price-prediction-xrp-could-soar-to-dollar-5-81-over-the-next-four-years-according-to-denis-glassock-founder-goldfinger-trading.html
[5] Author's analysis based on the data given in the input.
- The bullish signals in XRP could potentially lead to significant price discovery, as suggested by Denis Glassock, founder of Goldfinger Trading [1].
- Despite Shiba Inu showing signs of recovery, its bull run is currently under question, indicating weaker price momentum compared to other cryptocurrencies.
- Bitcoin's recenttouch of the $100,000 mark highlights its critical role in supporting altcoin rallies such as XRP's, as a continued positive trend for Bitcoin could further propel altcoins upward [1].
- For those interested in investing in crypto, monitoring the liquidity, trading volume, and technological developments in XRP, Shiba Inu, and Bitcoin could offer valuable insights into the market's future trajectory.
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