What to Know:
- XRP is approaching a critical juncture, testing the lower boundary of a descending triangle pattern that could determine its next major price move.
- Shiba Inu shows signs of bottoming out after weeks of consolidation, hinting at a potential rebound as it forms a double-bottom pattern around $0.0000102.
- Ethereum is attempting to reclaim the $4,000 level, buoyed by broader crypto market recovery and supported by mid- to long-term moving averages.
The crypto market is bracing for increased volatility as the weekend concludes, with XRP, Shiba Inu, and Ethereum all poised for significant movements. XRP is nearing a crucial juncture, while SHIB is edging closer to the $0.00002 mark. Ethereum traders are keenly observing whether ETH can successfully reclaim the $4,000 level.
XRP is currently testing the lower boundary of a descending triangle, a position that could dictate its next significant directional move. The ongoing price compression suggests a potential volatility spike, with bears closely monitoring any breakdown below the triangle’s base. Bulls, on the other hand, must maintain the current support zone to sustain hopes of recovery.
Shiba Inu is displaying a distinct bottom formation after weeks of consolidation, indicating a potential rebound. The token has been trading steadily around $0.0000102 after a steep decline in October, with its current chart structure suggesting a possible bullish reversal in its early stages. A double-bottom pattern is forming at the crucial horizontal support level of $0.0000098, where buyers have consistently intervened.
Ethereum is showing signs of recovery, edging closer to the pivotal $4,000 resistance level. The asset has gained momentum amid a broader cryptocurrency market rebound, stabilizing above $3,900. This level represents a key battleground between short-term sellers and long-term supporters of Ethereum’s robust network.
In summary, XRP is facing a critical technical conflict that will determine its next phase, while Shiba Inu’s consolidation suggests a potential breakout. Ethereum is at a turning point, nearing a bullish recovery contingent on sustained buying pressure and stable macro sentiment.
Source: Original article
