The cryptocurrency market is undergoing active changes with sharp price movements across various tokens. This article examines the growth prospects for Shiba Inu, liquidations in Bitcoin, and XRP's approach to the significant $3 level.
Shiba Inu on the Brink of a 20% Rise
Shiba Inu (SHIB) could rise by 20% next week if the Bollinger Bands signal confirms. Last week, SHIB closed at $0.00001334, above a key support zone and the 20-week moving average for the first time in two months.
The price is approaching the upper Bollinger Band, currently around $0.00001554. The $0.00001200–$0.00001300 range has served as a strong demand zone for SHIB, indicating potential further growth.
Bitcoin Triggers Liquidation of Short Positions
The price of Bitcoin surged past $118,000, triggering significant liquidation of short positions. This sharp rally saw $3.66 million in liquidated shorts compared to only $197,660 in long liquidations, creating an impressive imbalance of 1,722%.
Such a one-sided liquidation is rare, where price action clearly favors long positions.
XRP Nears $3 Breakout
XRP is on the verge of hitting the crucial $3 level after recently breaking through the $2.50–$2.60 resistance. The shift in market sentiment has brought XRP into focus as it approaches the psychological $3 mark, which has become a significant target for traders.
The technical structure for XRP remains strong, with all major moving averages above its current price.
The overall state of the cryptocurrency market shows high volatility and the potential for significant movements. Shiba Inu, Bitcoin, and XRP are positioned interestingly, possibly influencing their future dynamics.
