Currently, the cryptocurrency market shows interesting dynamics with XRP's recovery, potential growth of Shiba Inu, and Bitcoin's strengthening.
XRP: Recovery and New Horizons
XRP has once again surpassed the $3 mark, which may signal the start of a significant recovery move. Following a drop from its local high of $3.70, the asset found support at the 26 EMA and broke through important resistance levels. Closing above $3 confirms a bullish structure for the medium term.
Shiba Inu: Preparing for a Possible Breakout
Shiba Inu is cautiously navigating, while a price spike could be on the horizon. A key resistance level is the 50 EMA near $0.00001320. If the price breaks above this, it could signal the beginning of a broader upward trend.
Bitcoin: Beginning of a New Movement
Bitcoin has successfully recovered from the 50-day EMA level, indicating a possible start of its next significant move towards $120,000. This is supported by a resurgence of buyer interest as well as a recovery in the RSI, confirming bullish momentum.
Recent events in the cryptocurrency space indicate that XRP and Bitcoin are showing signs of recovery, while Shiba Inu is on the verge of potential growth. Traders should focus on support and resistance levels to understand the further development of events.
