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Ethereum has moved into an ascending price channel, indicating its near-term performance. This pattern shows a cautiously optimistic outlook but also highlights potential risks.

The ascending channel on Ethereum's daily price chart demonstrates that the cryptocurrency has been achieving higher lows and higher highs, a positive sign in market analysis. However, the current position near the lower boundary at $3,000 raises concerns about a potential breakdown. If Ethereum fails to hold this level, a correction towards $2,700 could occur, signaling a shift in market sentiment.

The possible decline to $2,700 is crucial as it aligns with the 200 EMA, potentially serving as a foundation for Ethereum to stabilize and rebound. Maintaining its trajectory within the ascending channel, Ethereum faces immediate resistance near $3,300. Breaking this level could lead to a move towards $3,500, strengthening bullish sentiment.

Shiba Inu's volatility has decreased, hinting at a potential unexpected rally. Despite low price movements discouraging retail investors seeking quick profits, SHIB's trading patterns suggest a shift is possible. The coin is consolidating, with increased buying activity indicating investors are preparing for price growth.

SHIB's current support is around $0.00002272; holding this level could be positive. Breaking below could lead to testing lower levels near $0.000017. To the upside, overcoming resistance at $0.00002690 would validate bullish sentiment and pave the way for further gains.

Bitcoin and Ethereum spot ETFs are now trading in Hong Kong, providing new opportunities for investors meeting regulatory requirements. This development is considered a step towards mainstream cryptocurrency adoption and could impact Bitcoin's price movement. Bitcoin is currently trading sideways with declining volumes, but the introduction of ETFs could bring in more liquidity, potentially appealing to institutional investors.

From a technical standpoint, Bitcoin faces immediate resistance at $63,000, with strong support near $59,988 preventing further drops. Breaking $63,000 could lead to a move towards $65,000, confirming a bullish trend revival for Bitcoin.