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The Shiba Inu price chart forms a symmetrical triangle, indicating a period of consolidation. As the volume profile shows, volume is gradually decreasing as the price stabilizes. This is a typical feature of this pattern.
A symmetrical triangle is generally a neutral pattern, but when an asset breaks out of the triangle, the asset’s price often fluctuates widely. In the case of SHIB, there are two main outcomes:
If buying pressure suddenly increases at the tip of the triangle, SHIB could see an upside breakout. This move could push SHIB above the key resistance level at $0.000019, and the surge in volume will be the driving force behind it.
SHIB/USDT chart by TradingView
This could propel SHIB towards stronger upside, especially if overall market sentiment improves. The next resistance level lies between $0.000022 and $0.000025, which could target a retest of SHIB if the bulls take control, indicating significant upside potential.
If the spike in volume does indeed indicate selling pressure, SHIB could break out of the triangle pattern and move lower. In this situation, the price is likely to fall and retest the lower support levels (around $0.000015 and $0.000013).
This is a continuation of the downtrend that SHIB has been experiencing recently and could signal further bearish momentum if the downtrend fails to sustain the support at $0.000015.
XRP’s sleep continues
Recently, the price movement of XRP has been poor, and it is hovering around $0.52 without much upward momentum. However, there are signs that this poor performance may be coming to an end. An important aspect to monitor is XRP’s ability to remain stable around the $0.50 level, which is proving to be a pivotal level.
The basis for price recovery has historically been established by holding this support. As a result of the recent consolidation phase, a reversal may be on the horizon, which could indicate that sellers are losing ground. Prices are also showing some resilience by continuing to stay above important moving averages like the 200-day EMA.
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This signal suggests that long-term investors may still be interested in XRP, and any rally from here could attract further buyers. The fact that volume is stable, although not as high as expected, suggests that traders are looking forward to a big breakthrough. If the price breaks above the $0.55 resistance level, there could be renewed interest in buying XRP.
dogecoin is alive
Dogecoin continues to show resilience despite the recent price drop and maintains its position within the uptrend. Important moving averages continue to support DOGE price as you can see on the chart that it remains bullish for the time being.
The price decline after testing the resistance at $0.12 has not completely reversed the uptrend. Or perhaps DOGE simply retreats briefly before picking up speed again. Around $0.10 is an important support level to monitor. If DOGE is able to sustain this level and attract further buying pressure, it will increase the chances of a reversal towards a higher target price.
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The next major resistance level is located at $0.12. A breakout above this could spur a more robust rally and send DOGE back to the $0.14 level. Furthermore, favorable developments in the larger crypto market could give DOGE the necessary impetus and confirm that the trend is likely to accelerate.
However, traders should exercise caution as a sustained decline below $0.10 invalidates the bullish outlook and increases the likelihood of further downside risk. Although Dogecoin is still trending upward for the time being, there is always a chance for an unexpected reversal.
