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The Shiba Inu is nearing a point where a symmetrical triangle pattern on the chart indicates that a big price move may occur soon. As an asset leaves the triangle, these patterns historically suggest that volatility may increase. At this point, SHIB traders are expecting a significant change in momentum.
Currently, SHIB price is stable within the narrowing triangle range. This tightening is usually done before a strong movement in either direction. When an asset breaks out of these patterns, momentum often builds quickly and can lead to significant price increases. Regarding SHIB, a breakout above a key resistance level could result in a significant increase in the asset’s price.
SHIB/USDT chart by TradingView
The token could target a more significant breakout at the first resistance level (around $0.000018). Then there is $0.000020 and above. If bullish sentiment increases and volume confirms the move, SHIB could try to reach high levels again like it did at the beginning of the year.
On the downside, it is important to remember that if SHIB fails to sustain above the support level, it could fall back into the $0.000015 range. If prices do not remain where they are, further significant declines in value could occur.
XRP’s subtle recovery
XRP has rebounded a bit in the past 24 hours, but this could be the beginning of a long-term reversal for the asset. The upward momentum is giving traders hope for a rebound after a period of subdued price movements over the past two weeks. However, major obstacles remain to be overcome.
XRP saw a significant decline at the end of September, losing a significant portion of its value in a short period of time based on the latest price trends. This selloff triggered bearish sentiment, and there hasn’t been enough buying pressure to halt the decline since then. As the token attempts to regain momentum, the lack of strong support from buyers is a concern. Technically speaking, XRP is about to overcome the $0.55 resistance level, which is essential for the asset to maintain momentum.
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A profitable discovery could pave the way for a shift towards the $0.60 level. However, XRP may find it difficult to advance beyond this point without significant bullish support. XRP needs to maintain its position above the $0.50 support level to avoid further selling pressure and prevent the market from being dominated.
Once this level is broken, the price is likely to continue falling, indicating a possible bearish trend. Despite some gains, traders should exercise caution as the overall market mood remains volatile and XRP lacks strong buying interest to support a long-term recovery.
dogecoin
Dogecoin has been holding steady, but there are signs that a possible reversal could be on the horizon. As assets look to regain momentum, investors should pay particular attention to three key price levels. The $0.116 area, where Dogecoin has encountered resistance in the past, is the first significant level.
A break above this mark could signal the beginning of a stronger uptrend. Also, the important moving average, which has been a hindrance for the asset in recent weeks, is represented in orange at this level. If DOGE can clearly break above $0.116, further upside is possible.
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The second level to watch is around $0.108, which has acted as both support and resistance for the past few months. This area is very important as it marks the middle of Dogecoin’s current trading range. If this level does not hold, the asset could head towards lower support, but a rebound from here would indicate bullish momentum is building.
Ultimately the psychological level of $0.100 remains important. This round number coincides with the chart’s black 200-day moving average and acts as a significant psychological barrier. If Dogecoin can maintain its position above $0.100, it will show strong support and avoid further decline.
