Market conditions are certainly not good, as volatility has pushed most assets to lower points.
XRP has once again demonstrated its resilience by successfully breaking through the 200-day exponential moving average (a key technical area). Over the past few trading days, XRP has tested the 200-day moving average three times, rebounding strongly each time. After these repeated tests, this long-term trend indicator has now become important support and a key gauge of investor sentiment.
From the charts, it can be seen that XRP regularly fell in June, testing the 200-day moving average (black line), with prices ranging between $2.09 and $2.10. Each touch resulted in a strong rebound, indicating that buyers quickly act when the asset reaches this critical support level. In the face of significant market volatility, bulls need a stable foundation to form, and this repeated interaction with the major moving averages without breaking below them typically signals that such a foundation is forming. Although XRP is technically still fluctuating between the 200-day EMA support and the 50-day EMA resistance, a breakout may soon occur as this range narrows. With the RSI indicator still in the 40s, indicating neutral momentum, there is still upside potential without entering the overbought territory.
Although trading volume has not significantly increased, stable buying interest at support levels indicates growing market confidence. If XRP can convert the 50-day and 100-day EMA levels (around $2.25-$2.30) into support, it could quickly retest the $2.60-$2.70 range.
Overall, these three successful tests of the 200-day EMA are not just brief rebounds; they enhance the structural integrity of XRP and pave the way for a stronger recovery while the overall market remains stable. To validate this bullish signal, bulls will now focus on a clear rise above the short-term EMA.
Is Shiba Inu in trouble?
Shiba Inu is on the brink of a serious psychological collapse, known as the 'add zero scenario.' The asset has entered free fall, and based on current price performance, the likelihood of SHIB further plunging into the abyss is increasing day by day. As of the writing of this article, SHIB is trading far below important moving averages such as the 50, 100, and 200-day averages, at about $0.00001195.
For weeks, price movements have been trapped below these resistance levels, with every rebound attempt failing, indicating a lack of confidence in the market or strong buying momentum. From a technical perspective, the key structural level of support during the previous pullback—around the support level of $0.00001231—has been breached.
This crash is not just another drop. According to this potential signal, investors and whale investors may have lost confidence in the asset's short-term recovery. Trading volume has not shown any bullish divergence. In fact, volume has been steadily declining, indicating that even at such low levels, investor interest is waning.
The RSI indicator hovers near the oversold area, but in the absence of bullish confirmation, this is merely a warning rather than a buy signal. 'Adding a zero' refers to the price dropping a digit, in other words, SHIB falling below $0.00001000. If the current selling pressure is not contained, this level may soon be breached.
Unless SHIB shows a significant reversal and confirms trading volume or a major catalyst occurs, the likelihood of further decline remains high. So far, this meme coin has not been driven by hype, which is a significant issue in a bear market. Investors should proceed with caution, as SHIB has the potential to become a cautionary tale rather than a success story.
Opportunities for Ethereum
Ethereum is on the verge of a potential technical advancement: the formation of a golden cross. As the 50-day moving average quickly approaches the 200-day moving average, the likelihood of a golden cross is increasing. Unless ETH experiences a significant pullback next week, a golden cross is likely to occur. Historically, pullbacks often signal the beginning of a bullish trend in the mid to long term.
Ethereum is currently trading at around $2,521. Despite recent market volatility, it has shown significant resilience. After rebounding from the clear bottom of an upward channel, the asset continues to trade above the 100-day moving average. This rebound is not coincidental and further proves that these areas are still viewed by market participants as good accumulation points.
No significant sell-offs have occurred recently, trading volume remains stable, and the RSI is slightly below 50, providing some neutral support space for potential upward momentum. The foundation of Ethereum still helps stabilize investor sentiment.
The golden cross formation further drives this trend. While an immediate rise cannot be guaranteed, this formation often indicates a shift in mid-term trend sentiment. If Ethereum maintains above the key support level of $2,450 to $2,500 and does not break below the 100-day moving average, the bullish cross is almost certain.
Investor confirmation indicators include: rising daily trading volume, RSI above 50, and a closing price solidly above $2,600. These indicators suggest that Ethereum is not only gaining momentum but also laying the groundwork for a long-term breakout, potentially reaching $3,000 within the next month. If validated, the golden cross could act as a catalyst.
For those who are struggling to grasp the market, focus on @柒捌说币 to catch the rhythm and welcome the bull market together!!!
