XRP is now negotiated at $ 2.18 after having officially broken below an important technical level and lost support for the 50 -day exponential mobile average. This decision indicates a major change in the momentum and creates the possibility of EMA 200 retaining, which is currently the main line of defense of the Bulls and is located in the range of $ 1.99 to $ 2.00. XRP's short-term prices' action has become downwards following several unsuccessful attempts to break over the downstream resistance trend line.
The weakening of the interest of purchases and an increased sensitivity to additional drop is indicated by the decline below the EMA 50, which is generally considered as a dynamic support zone. The most likely result is a slow drop in 200 EMA, if XRP is not able to quickly recover 50 EMA. If it breaks, the next drop -down target is around $ 1.74, where the previous local stockings offered strong support in early April.
However, a clean rebound of this level could act as a pivot for greater recovery. A significant increase greater than $ 2.18, followed by a consolidation, could, on the other hand, refute the downward thesis and revive expectations for a passage to $ 2.40 and finally $ 2.60, the upper range of the descending channel in which XRP has been trapped since January.
The relative resistance index (RSI) currently runs the neutral level 50, which suggests an indecision, as opposed to the circumstances occurring or on a box. When the decisive impulse is necessary to resume the lost ground, the bulls are not helped by the moody volume. The bias will be lower until XRP recovers the 50 EMA and increase the volume.
Shiba Inu gets weakened
Shiba Inu, despite a lower overall market and the drop in interest, has demonstrated resilience by recovering from a level of crucial technical support close to $ 0.00001273, the 50 -day exponential mobile average (EMA). All this rebound is not technical noise. It symbolizes Shib's reluctance to collapse despite the fact that the volume is still quite low and that the confidence of investors is not clear.
Shib is currently negotiating just above the EMA brand 50 to around 0.00001295 $. This line has historically contributed to initiating small inversions, and it seems that this time is no exception. Shib has the flexibility to move in both directions, because the relative resistance index (RSI) is in a balanced area, not occurring or on purchase, at around 49 years. However, the rebound does not imply that we are safe.
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Since the beginning of January, the descending trend line has been a crucial level to keep an eye on. This trend, which is currently located near the range of 0.00001350 to $ 0.00001400, served as a reliable barrier for months. It is the battlefield where Shib must demonstrate his courage if he hopes to make a significant increase. An evolution towards the resistance of 0.00001623, the EMA 200 and a key psychological level can be possible if the trend line is successfully broken.
However, if the feeling of the market does not quickly become bullish, the fact of not unraveling this downward resistance could lead to another decline towards the support zone. Now everyone looks to see if Shib can maintain this rebound and test the upper limit of the downhill canal. The bulls are still in danger, but until then they have a certain breathing room. Things could quickly collapse once again if the support is not provided.
The path of Solana
As the technical configuration suggests, with a possible rally towards the $ 180 mark, Solana is preparing for another step. The development structure of the daily graphic can be a conventional optimistic flag, suggesting a continuation of the robust upward trend observed in April, even in the face of recent consolidation and a discernible drop in trading volume. Sol is currently negotiated at around $ 144, just below the 200 -day EMA and the key resistance at $ 151.
A new February summits test around $ 180 would be possible if this level was broken. However, the volume must increase sharply to confirm the break and avoid a bull trap. Price action alone will not be enough. When a price rally is followed by a progressive withdrawal or a lateral movement, the volume descending during this flag formation is typical of the bullish consolidation models. This step acts frequently as a cooling phase before a significant impulse movement.
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The configuration could fail, in particular, in particular with the RSI indicators moving the lower RSI and Momentum displaying a decreasing force if the buyers do not intervene quickly. In addition, a support area has developed around the $ 133 bar at $ 135, which is also the location of the growing trend line that was drawn from the bottom in early April. The next line of defense would be to look at the attention of the 50 EMA around $ 131 if soil fell below this region, invalidating the flag.
Currently, cautious optimism is supported by the context of the larger market. Among layers 1, Solana was one of the best performers, and the ecosystem continues to arouse interest because of its cheap costs and high speed. If the feeling in the cryptocurrency markets is improving, Solana could gain disproportionately and take the lead.
