Ethereum (ETH) Price Finally Returns, Shiba Inu (SHIB) Double Bottom Reversal, Bitcoin (BTC) Volume Surge Triggers Bullish Moves U.Today
U.Today – A double bottom reversal of a bullish chart pattern that could result in a significant price jump is what indicates that it is possible. SHIB price is testing important levels near the 200 EMA, which is a key long-term support at its current price of $0.00002164, supporting the idea of a potential recovery.
With two tests and a bounce from the $0.00002079 level, SHIB price has formed a double bottom pattern, indicating strong buying interest in this important support zone. Since the 200 EMA closely resembles this level, traders and investors should pay attention to it. If this pattern plays out well, it could pave the way for a reversal targeting higher price levels.
SHIB could first target resistance at $0.00002294 and then $0.00002314 if the pattern holds. The price could move towards the $0.00002550 region, a key level where SHIB could regain momentum if these levels are breached, confirming a reversal.
Volume, however, is still relatively low, indicating that more market involvement is needed to confirm a breakout. The RSI is currently at 43, suggesting there is still room for growth without going into overbought territory. If the support at $0.00002079 does not hold, the double bottom pattern may be considered invalid, which could result in further rejections.
SHIB could test lower levels in such a situation, with $0.00002000 as the next significant support. A key moment for SHIB is represented by this configuration around the 200 EMA and double bottom pattern. In case the bullish momentum increases, the meme token may recover, giving an opportunity to traders expecting a reversal. It will be crucial to closely monitor important levels and market conditions in the coming sessions.
wake up
The market capitalization of Ethereum, the second largest cryptocurrency, is starting to rise again after a prolonged period of decline. ETH is up 2.83% in the past day and is currently trading at $3,310 after bouncing off important support levels. The resilient nature of ETH has been demonstrated by recent price action, which has seen it successfully hold its 200 EMA at $3108, a key long-term support level.
Bullish sentiment was rekindled by this bounce, which moved the price closer to the 100 EMA at $3,265. The next major resistance level is $3,500, and a clear break above this level could pave the way for further upside. For a longer-term recovery, $3,700 is still a key level to watch above that level.
At 47 right now, the RSI indicates neutral momentum. The recent rally, however, indicates a possible move in the direction of bullish territory. Additionally, there was a slight increase in volume, lending credence to the idea that buyers are defending important support zones. The reversal comes after a larger market sell-off, in which Ethereum tested key levels following the previous sessions’ inability to sustain momentum above $3,700.
As it tries to regain the confidence of traders and investors, this recovery is crucial for ETH. ETH may indicate further downside if it fails to sustain its upward trajectory and breaks below the 200 EMA, with $3,000 serving as the next psychological support level. On the other hand, a retracement of $3,500 would reinforce bullish sentiment, and Ethereum would be poised to challenge higher levels in the coming weeks.
The recent action underscores Ethereum’s resilience in the face of market turbulence as its widening adoption and network foundations continue to attract long-term investors. For those hoping for a long-term recovery in the larger cryptocurrency market, ETH’s latest rally is encouraging — though the road ahead is still tough.
revitalized?
After a period of retracement, increasing trading volume is driving the top cryptocurrency higher and Bitcoin is gaining momentum. With its current price of $96,949, Bitcoin is up 2.41% over the past day, indicating a possible shift in market sentiment. The rising volume indicates renewed buying interest as price action shows that Bitcoin has recovered from critical support levels near $92,000.
As Bitcoin attempts to regain the $97,500 mark, which currently serves as near-term resistance, there has been a spike in activity. Bullish confidence could increase further if this level is successfully breached, as it could lead to a retest of the psychologically significant $100,000 level.
With an RSI of 48, Bitcoin is currently in neutral territory, meaning it has room for further upside without reaching overbought conditions. This is in line with the increase in volume recorded, which is a key indicator of increased investor interest. On the downside, the first key support to watch is still $92,000.
A retest of the $87,500 region, where the 100 EMA offers more support, may occur if this level fails to hold. If the price breaks below this level, it could signal a more significant correction that could target $78,124, near the 200 EMA. Since volume often precedes large price movements, the recent surge is encouraging for Bitcoin.
