XRP’s Recent Performance
XRP‘s recent performance has been under intense scrutiny, especially with its inability to break through the 50 EMA and establish a foothold above it. This situation is critical for XRP as failing to overcome this resistance level raises the risk of a further correction, potentially halting the current rally.
XRP’s inability to break through the 50 EMA certainly raises some concerns as, at this point in time, the asset is clearly struggling to maintain the current momentum.
The 50-day Exponential Moving Average is acting as a good resistance to the price with the blue trendline. The fact that XRP struggles to float above this line adds some negativity to the mix, meaning one can read that bulls are not strong enough to hold on given the existing momentum. It has to be convincingly across this 50 EMA to have any hope of a continuation rally.
Shiba Inu’s Promising Picture
Lately, Shiba Inu has been showing a lot of promise for investors, managing to hold above the 50-day exponential moving average, thereby signifying strength. This is the level of the EMA that has been acting as the support level giving birth to the current price levels, thereby filling buyers with more confidence.
Worthy of focus is the fact that an ascending channel has developed, which typically signals a consolidation phase just before a breakout. This also forms a good base for bulls, with additional support from the 50 EMA. The challenges in price within this channel show that SHIB can be preparing for something more valuable on the upside if current conditions hold.
Ethereum to $4,000?
Ethereum remains resilient, extricating itself very slowly but surely from bears, but at this point it cannot manage to break above $3,800. Price data reflects the belief that the indication of strength emanating from the hints to the upcoming price rally is after a correction toward $3,600.
The price action on Ethereum looks good for now. The ETH/USD pair has had to struggle quite a bit to the upside, finding major support around the $3,600 level. This bounce is an important move and should stamp the level as one that is key to a reaction point going forward for Ethereum investors. Trading volume has also soared, making the market even more bullish.
