The market is facing the biggest decision in months.
Shiba Inu's price action is consolidating within a clear symmetrical triangle, signaling that the company is approaching a significant turning point. SHIB's price has been consolidating around $0.0000126 for several weeks, and its structure indicates that a breakout is almost inevitable, whether up or down, in the coming trading days. SHIB has repeatedly tested resistance and support levels on the chart, with traders' indecision reflected in the contraction of volatility.
Strong resistance, especially around $0.0000132-$0.0000140, remains above the market as the 100-day and 200-day moving averages. On the downside, the support level around $0.0000120 remains strong, providing stability to SHIB despite overall market volatility. As price action narrows, SHIB is essentially forced to make a quick decision. With volume beginning to slightly rise, market participants seem to be preparing for a breakout.
The RSI at 48 indicates a neutral market state, further supporting the view that the momentum formed at the triangle's apex may determine the next major movement. If SHIB can firmly close above $0.0000135, it may be ready for a stronger reversal attempt. The breakout target could be in the $0.0000150-$0.0000160 range. However, if the support level at $0.0000120 is breached, SHIB could potentially drop back to lows around $0.0000105. This could exacerbate bearish sentiment for the fourth quarter.
Finally, the window for SHIB's consolidation is closing. According to the symmetrical triangle, SHIB needs to take action in the coming weeks (or even sooner). While patience is currently required, the momentum brought by a breakout could determine SHIB's direction in the coming months. The opportunity for SHIB to truly choose its next move is at hand: to fall again or to rebound.
XRP long-term upward trend
Market structure suggests that this movement may ultimately be just a false breakout rather than the beginning of a long-term uptrend, even as XRP tests its resilience at the $3.00 level again. As XRP's price approaches the apex of a classic triangle pattern (which often leads to explosive breakouts), the cryptocurrency is currently consolidating within this pattern. However, it is worth noting that XRP's trading volume is almost zero, raising questions about the strength of any rapid upward movement. Low trading volume often indicates uncertainty from both buyers and sellers.
When the price rises and lacks substantial volume support, it often leads to a pullback. This risk intensifies as the market approaches psychological levels (such as the $3.00 level tested multiple times in recent weeks). The 200-day moving average ($2.49) and the 100-day moving average ($2.80) continue to technically support XRP, playing a crucial role in maintaining its overall upward trend. However, these moving averages can only provide temporary support until volume picks up and do not guarantee long-term upward momentum.
The RSI at 49 reflects a market-neutral position, further indicating that XRP lacks a clear directional momentum. If the volume remains unchanged, XRP may retreat to $2.80 and could test the 100-day moving average again. On the other hand, if trading activity unexpectedly surges, a breakthrough above $3.10 could open the door to a rally towards $3.40-$3.50.
The current price action leaves traders in a state of uncertainty: XRP is about to undergo a significant movement, but it is unclear whether this is a true rebound or another false move without volume confirmation.
Key obstacle for Dogecoin
Dogecoin is showing signs of recovery again, with trading prices close to $0.224, about to break through a key resistance level. Looking at the daily chart, Dogecoin has successfully broken through the ascending support level, restoring a short-term upward trend, demonstrating resilience even in uncertain market conditions. Before Dogecoin attempts a larger rebound, the 50-day moving average (currently the last significant resistance level) is the final technical barrier that needs to be overcome.
With the lows continuing to rise and gaining strong buying support around $0.21, the price action of Dogecoin indicates a steady increase since mid-July. Investor confidence has been restored, and prices are back above the 100-day and 200-day moving averages, but the 50-day moving average remains the upper limit of its upward trend. If Dogecoin decisively closes above this line, momentum may shift in its favor, potentially targeting the $0.25-$0.27 area soon. The support area around $0.21 remains very important on the downside.
If Dogecoin falls below this level, it may retest $0.19, which would reverse much of the recent bullish momentum. However, relatively stable trading volume indicates that buyers are still willing to support Dogecoin's current structure. The next price action will entirely depend on whether Dogecoin can convert the resistance level into a support level, as the RSI around 50 indicates a market-neutral stance.
Especially considering DOGE's position as a momentum-driven asset, a successful breakout could spark new interest from retail and speculative investors.
