GameFi Guides

• XRP long-term rally
• Dogecoin’s key barrier

Shiba Inu’s price action is coiling tighter inside a clearly defined symmetrical triangle, signaling that the company is about to reach a significant turning point. SHIB has been consolidating for weeks at a price of about $0.0000126, and the structure indicates that a breakout, either up or down, is nearly certain in the upcoming sessions. SHIB repeatedly tests both resistance and support on the chart, and traders’ indecision is reflected in the shrinking volatility.

Strong resistance barriers, especially around $0.0000132-0.0000140, are still the 100-day and 200-day EMAs hanging over the market. On the downside, support has remained strong around $0.0000120, which has kept SHIB afloat in spite of more general market volatility. Due to the price action’s narrowing, SHIB is essentially forced to make a decision quickly. It appears that market participants are positioning themselves in anticipation of a breakout, as volume levels have begun to slightly increase.

SHIB/USDT Chart by TradingView

The RSI at 48 indicates neutrality, which lends more credence to the idea that momentum created at the triangle’s tip will probably dictate the next significant move. SHIB may be ready for a more forceful reversal attempt if it can close firmly above $0.0000135. The breakout may aim for the $0.0000150-0.0000160 range. SHIB runs the risk of revisiting lows close to $0.0000105, though, if support at $0.0000120 breaks. This could deepen the bearish sentiment into Q4.

Finally, SHIB’s window for sideways drift is closing. According to the symmetrical triangle, SHIB will need to take action within the next few weeks, if not sooner. While patience is needed for the time being, the momentum that results from the breakout could determine SHIB’s course for months to come. SHIB’s only real opportunity to choose its next course is now: either slip into another downward leg or bounce back toward recovery.

XRP long-term rally

The market structure suggests that this move might end up being a fakeout rather than the start of a long-term rally, even though XRP is once again putting its resiliency to the test at the $3.00 mark. As the price of XRP tightens toward the apex of a classic triangle pattern, which typically results in an explosive breakout, the cryptocurrency is currently consolidating within this pattern. What is noteworthy, though, is the essentially nonexistent trading volume, which raises questions about the strength of any quick upward move. Low volume usually indicates that both buyers and sellers are not very convinced.

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Price action frequently resolves into a retracement when it moves higher without substantial volume support. When the market is trading close to a psychological threshold such as $3.00, which has been tested numerous times in recent weeks, this risk is increased. The 200-day EMA at $2.49 and the 100-day EMA at $2.80 continue to support XRP on the technical side, and they have both been crucial in sustaining its overall upward trend. However, these moving averages only offer temporary support until volume increases; they do not ensure long-term upward momentum.

Further indicating that XRP lacks a distinct directional push is the market neutrality reflected by the RSI at 49. If volume does not change, XRP could revert to $2.80, where the 100 EMA might be tested again. The breakout above $3.10, on the other hand, might start a run toward $3.40-$3.50 if there is an unexpected surge in trading activity.

The price action currently leaves traders in a state of uncertainty: XRP is about to make a significant move, but it is unclear if this is a sign of a genuine rally or just another fakeout without volume confirmation.

Dogecoin’s key barrier

Once again displaying signs of life, Dogecoin is trading close to $0.224 as it approaches the breaking of a crucial resistance barrier. Examining the daily chart, DOGE has been able to recover its short-term upward trend by rising above the ascending support line, demonstrating its resilience even on an uncertain market. Before DOGE tries a wider rally, the 50-day EMA, which is currently the last significant resistance, is the final technical obstacle that needs to be addressed.

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With higher lows and strong buying support near $0.21, the price action demonstrates how DOGE has been steadily rising since mid-July. Investor confidence has already somewhat recovered, with the move back above the 100-day and 200-day EMAs, but the 50 EMA still serves as a ceiling. If DOGE closes decisively above this line, momentum may change in its favor, and it may soon target the $0.25-$0.27 region. The support area around $0.21 is still very important on the downside.

Should DOGE break below this level, it could be subject to a potential retest of $0.19, which would reverse a large portion of the recent bullish buildup. The comparatively stable volume, however, indicates that buyers are still prepared to support DOGE’s current structure. The next move will solely depend on DOGE’s ability to turn resistance into support, as the RSI around 50 indicates market neutrality.

Particularly considering DOGE’s standing as a momentum-driven asset, a successful breakout might spark fresh interest from both retail and speculative investors.

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