Pakinomist – Finally, a crucial descending trendline resistance level has been broken, suggesting that a major bullish rally may be about to begin. After weeks of consolidation within a narrowing range, traders have a clear indication that momentum may turn to the upside with this breakout. The recent rise above the $2.30 mark, which saw XRP close above the trendline and key moving averages, including the 50 EMA, confirms the bullish sentiment. This level now serves as a solid foundation for future development.

The next key resistance levels to watch if the bullish momentum continues are $2.50 and $2.70. With a successful push above these levels, XRP could aim for $3.00, a psychological barrier that could rekindle investor interest. The breakout volume is notable but not yet explosive, indicating that while the breakout is legitimate, more buying pressure could help the rally gain more traction.

With an RSI of 59 right now, there is still room for more upside before the market becomes overbought. If XRP is unable to maintain its position above $2.30, it may retest the descending trendline, which currently serves as support at around $2.20. However, if this level is broken, the bullish scenario may be invalidated and the price may move towards the $2.00 level, which is in line with the 100 EMA. All things considered, XRP’s breakout paves the way for a possible bullish rally with $3.00 serving as the crucial long-term target.

To verify the strength of this breakout, traders should keep a close eye on volume and support levels. With the technical structure hinting at expansion, XRP may be preparing for its next major move.

on the way forward

A head-and-shoulders pattern, a bearish structure that often foreshadows a possible downward move, begins to form on the Shiba Inu. The asset is currently struggling near key support levels, so traders and investors should pay close attention to this pattern.

Right now, SHIB’s price is trading near $0.0000200, just above the 200 EMA. Acting as a strong support area, this level has stopped a more serious sell-off. But the neckline of the pattern, which is around $0.0000215, is still crucial. In line with previous demand zones, a confirmed break below this level could lead to a strong move towards the next important support at $0.0000180.

Immediate resistance on the upside is the $0.0000225 level. If this level is broken, the bearish pattern may be considered invalid, allowing SHIB to retest $0.0000250. It would take significant buying pressure to break through this resistance level, which is aligned with the 50 EMA.

Volume analysis shows that there is not much bullish momentum, which makes the current pattern even more alarming. The RSI is also near 45, indicating neutral conditions with potential for downside if sellers take control.

SHIB’s next move will largely be determined by the price action around the neckline and 200 EMA, although the head-and-shoulders pattern is yet to be fully confirmed. Because a break in either direction can result in significant price moves, traders should keep a close eye on these levels. For now, it is advised to exercise caution and manage risk around these crucial levels.

must wake up

In terms of price movements, Bitcoin seems to be following other digital assets as the cryptocurrency king remains trapped in a low volatility phase. Traders and investors expecting a strong directional move are getting worried about this stagnation. After an impressive rally in late 2024, Bitcoin has struggled to maintain momentum and is currently trading around $94,000.

The absence of notable price movement stands in stark contrast to the more dynamic performance of other crypto market assets. Bitcoin has been unable to attract traders or bolster confidence in a possible breakout due to this muted activity. The price of Bitcoin is consolidating below the EMA 50, a key resistance level near $97,000, according to the daily chart.

For there to be any possibility of an upward trend, this level must be broken. The $87,700 support level, which corresponds to the 100 EMA, remains a hedge against further declines. A longer decline towards the 200 EMA of $78,000 could be in store if Bitcoin breaks below this.

Although the RSI is currently at 45, indicating neutral sentiment, it also shows that Bitcoin does not have the momentum needed for a significant move in either direction. Furthermore, the market’s below-average trading volumes support the idea that it is in a wait-and-see phase.