Bearish Pressure On Shiba Inu May Be Nearing Completion, Weekly Chart Suggests
Open interest in Shiba Inu climbed 2.1% over the past 24 hours even as spot trading volume fell 18%, sending conflicting signals about where the token is headed next. Related Reading: History Shows Bitcoin ETF Outflows Favor Accumulation, Says Santiment What The Chart Is Showing SHIB is currently trading around $0.0000056, near its historic lows, after dropping 10% in the past seven days. That decline brought the token back down to a key support zone around $0.0000055 — a level that has cushioned price drops since the coin’s early days in 2021. Despite repeated tests, sellers have....
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Dogecoin’s recent decline may be nearing exhaustion as the price edges toward a crucial support zone. With the downward wave showing signs of completion, market watchers are now eyeing a potential shift in momentum that could spark the next bullish reversal. Price Channel Near Completion: One Key Level Left To Break After examining the Dogecoin (DOGE) 30-minute chart, the Elliott Waves Academy updated its outlook to confirm a period of strong selling pressure. Technical analysis clearly indicates that the DOGE/USD pair is nearing the completion of a defined price channel pattern, with only....
XRP is showing signs of a potential trend reversal as a multi-cycle triple bottom formation begins to take shape on the macro chart. This rare structure suggests that selling pressure may be nearing exhaustion, with price stabilizing around key support levels. As the pattern approaches completion, attention is shifting to whether this setup could mark the end of the downtrend and the start of a new bullish phase. XRP Forms Rare Multi-Cycle Triple Bottom Structure Charting the macro structure, EGRAG CRYPTO highlighted that the XRP chart is forming a pattern that many market participants may....
Ethereum prices surge from the low of $980 to a high of $1,743 with so much excitement as regards the merge coming up in a few weeks. With the monthly close, there have been high expectations for the Ethereum price to reach a region of $2,000 -$2,400. Ethereum Weekly Chart The Ethereum price surged from the low $1,012 to $1,743 after several weeks of a downtrend. There was a bit of relief bounce from Ethereum haven traded below the 50 & 200 Exponential moving average (EMA). Ethereum, as of writing, is trading at $1,580 after being rejected at $1,722; Ethereum could not break the weekly....
On-chain data shows that Shiba Inu (SHIB) has witnessed a massive decline in whale activity. This is significant for the meme coin’s ecosystem, considering the impact these investors usually have on Shiba Inu’s price. Shiba Inu’s Whale Activity Declines By Over 100% Data from the market intelligence platform IntoTheBlock shows that Shiba Inu’s whale activity has declined by over 100% in the last seven days. This is based on the large holders’ netflow metric, which indicates when these whales are adding to their positions or offloading their tokens. Related Reading: Bitcoin Closes....
Crypto analyst Jesse Olson has highlighted the second consecutive Heikin Ashi signal on the Bitcoin (BTC) weekly chart. This comes despite Bitcoin’s recent rise to as high as $58,000, which suggests that a bullish reversal might be on the horizon. What The Heikin Ashi Signal Means For Bitcoin While highlighting the second consecutive Heikin Ashi on Bitcoin‘s weekly chart, Olson also noted that there was no wick to the upside, which suggests that the downside trend is likely to continue. The crypto analyst had also previously explained how the absence of a wick to the upside signals a....