Recent events in the cryptocurrency market have captured investor attention. Ethereum has shown impressive growth, Shiba Inu displays signs of strength, and Bitcoin has breached key levels.
Ethereum Shows Sharp Growth
Ethereum has surpassed several resistance levels, including the 200-day moving average, recording a 31% rise in a short time. Technically, this may signify the beginning of a significant structural reversal supported by strong volume. However, RSI is above 81, typically indicating overbought conditions.
Shiba Inu Set for a Breakout
Shiba Inu displays renewed price action, breaking key resistance levels and aiming for the $0.00002 mark. The recent increase in trading volume indicates growing interest. If SHIB closes a daily candle above the 200 EMA, it will open the path for further growth.
Bitcoin Recovers but Faces Risks
Bitcoin has crossed the $100,000 mark, yet this may be a temporary overextension. Changes in trading volume and RSI indicate it is in overbought territory, which may signal consolidation or a downward trend. Bulls must hold support in the $98,000-$95,000 range.
Events in the cryptocurrency market continue to unfold. Investors should remain vigilant regarding current trends as the market remains volatile.
