- XRP: Another important test
- Shiba Inu’s troublesome move
In an effort to level off following recent downward pressure, Bitcoin is presently trading around $113,000. Although the 200-day exponential moving average (EMA), a crucial longer-term support, has been held above by the digital asset, upward momentum is obviously having trouble.
Around $114,000, where concentrated selling liquidity has accumulated, Bitcoin faces a strong ceiling on the daily chart. This region has frequently served as resistance and still affects the likelihood of a quick recovery. There is little chance of a long-term recovery unless Bitcoin can clearly break above this level.
BTC/USDT Chart by TradingView
This hesitation is also reflected in volume data. Trading activity has been decreasing recently, indicating that neither bulls nor bears are fully committing. A limited trading environment, where liquidity clusters more often determine direction than momentum, is produced by this lack of conviction. The upward path is blocked unless there is a significant increase in buying pressure, as the majority of sellers are stacked around $114,000.
With its neutral position, the relative strength index is open to movement in either direction. But it is impossible to overlook the downside risk, given the numerous rejections around $114,000. If Bitcoin is unable to maintain its position above $111,500, the 200-day EMA and previous accumulation levels are in line with the next strong support, which is located around $106,000.
Bitcoin is in a decisive zone right now. Continued failure at this resistance makes the case for another retest of lower supports stronger, but a clear push through $114,000 would pave the way toward $118,000 and possibly higher. Since the $114,000 mark continues to be the dividing line between a brief recovery and prolonged consolidation, traders are keeping a careful eye on liquidity dynamics.
XRP: Another important test
At $2.96, just below the psychological $3 threshold, XRP is once again up against a crucial test. Due to its inability to sustain momentum following its last rally attempt, the asset has been under selling pressure in recent sessions. Given the alignment of sentiment and technical factors, this zone might be XRP’s final opportunity to make a significant breakout.
Chart-wise, XRP is resting on important moving averages and pushing against descending resistance. At the moment, the most important threshold is the 100-day exponential moving average (EMA), which is serving as support. The price may provide the required foundation for a reversal and a fresh attempt at $3 and higher if it stays above this level. The bearish structure would be nullified by a clear break above $3, paving the way to a more robust recovery.
XRP/USDT Chart by TradingView
However, if this support is not defended, deeper levels around $2.60 and perhaps $2.40 may be retested. By doing so, XRP’s consolidation would continue, and any possible bullish reversal would be postponed, giving sellers strong momentum.
There is a lack of a clear bullish surge in trading volume, which indicates market hesitancy. Because the RSI readings are still neutral, there is potential for both upward and downward movements in the days ahead, contingent on liquidity inflows.
In other words, XRP is at a critical juncture. The final opportunity to turn sentiment bullish in the near term is in the $2.96-$3.00 range. XRP may try to form a stronger base and make a breakout if the 100 EMA keeps serving as support. If it falters, however, the likelihood of a decline increases, keeping XRP trapped in its larger downward trend.
Shiba Inu’s troublesome move
Shiba Inu is presently struggling to hold onto its position around the $0.0000122 level, a price range that has grown to be crucial for both traders and long-term holders. Up until now, SHIB has maintained this crucial support in spite of recent volatility and an attempt to break out from its symmetrical triangle structure, indicating that stability and perhaps a recovery are still possible in the near future.
According to technical analysis, the $0.0000122 zone serves as a structural and psychological support level. Consolidation above this region could provide SHIB with a foundation for a recovery toward resistance levels at $0.0000130 and ultimately $0.0000140. It would be possible to retest the upper boundary of the larger triangle, which has been capping SHIB’s price for several months, if these levels were to be broken. But failing to maintain $0.0000122 would probably encourage more downward pressure.
In the past, liquidity has offered short-term respite at $0.0000115 and even $0.0000105, where bears may try to pull the price back. Because the RSI is currently in neutral territory and neither extremely overbought nor oversold, either side of the market can establish dominance. Investors continue to need to exercise caution and patience.
This year has already seen several unsuccessful breakout attempts for SHIB, and although speculative interest is still high, momentum is being hampered by the weakness of the overall market. Additionally, the volume profile shows waning activity, indicating a falling level of confidence among bulls and bears.
In other words, there is still hope for a recovery as long as SHIB stays above $0.0000122. However, this level is brittle, and any significant collapse could cause sentiment to turn sharply negative. Prior to making new investments, investors should keep a close eye out for confirmation.
