Currently, Shiba Inu, Ethereum, and Dogecoin are in consolidation phases with potential volatility spikes on the horizon. This article discusses current price levels and the likelihood of significant changes in the short term.
Shiba Inu Prospects
Shiba Inu continues to consolidate while approaching the key 26 EMA level. Currently, SHIB is trading at about $0.0000117. Extended price compression below the 26 EMA creates conditions for a potential strong move; rising prices indicate waning selling pressure.
According to RSI readings, SHIB is in a neutral zone, suggesting a possible breakout but not guaranteeing it. If SHIB can close above the 26 EMA, it may lead to a rise to the $0.0000125-$0.0000130 range. Conversely, a drop back to support at $0.0000110 is possible.
Ethereum's Chances to Break Out
Ethereum has displayed a rare technical formation involving the divergence of the 50, 100, and 200-day moving averages. Currently, ETH is trading around $2,547. The divergence indicates a potential rise in volatility.
Ethereum has been consolidating in the $2,500-$2,600 range with an RSI of around 53, suggesting equal chances for buyers and sellers. To confirm a bullish scenario, investors should await a consistent close above $2,600, which would allow ETH to target $3,000.
Cautious Prediction for Dogecoin
Dogecoin is currently in a narrow ascending channel, trading at about $0.168 and facing resistance at the 26-day EMA. Currently, there is a lack of long-term bullish momentum given the declining moving average.
A breakout above the 26 EMA could drive prices to the $0.185-$0.19 range. However, if DOGE fails to maintain the ascending channel, a retest of $0.15 or lower becomes likely. Volatility is expected to increase as an upward market impulse emerges.
The cryptocurrency market remains uncertain, yet Shiba Inu, Ethereum, and Dogecoin show potential for significant movements. Investors are advised to monitor volume and price changes closely.
