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Shiba Inu is hitting a higher high on the charts, signaling a potential reversal in investor sentiment and market momentum. After a period of consolidation, SHIB broke above previous resistance levels.
SHIB price has overcome a critical resistance level, now turning it into support that traders should watch. This new support is around the $0.000022 mark. If SHIB price pulls back, this level could play a crucial role in maintaining the current bullish momentum. On the other hand, resistance lies near the $0.000028 level, a breakout of which could pave the way for further gains.
Shiba Inu recently reached a new high, which is quite significant. This shows that people are willing to buy more even when prices fall, suggesting that they believe in a reversal in the near future. Before this, SHIB's price was consolidating, so this upward trend gave those who love SHIB hope that its value could continue to rise.
XRP obtains the golden cross
XRP unexpectedly got the golden cross formation. This occurs when a short-term moving average crosses a long-term moving average, usually indicating the potential for significant price increases.
The daily price chart showed the 50-day moving average climbing above the 200-day moving average, a substantial growth signal. The golden cross could potentially lead to an uptrend as it could attract more buying pressure.
The recent drop to the support level around $0.50 resulted in a significant buyback, pushing the price higher. As another higher high looms, XRP could finally enter an extended uptrend and reverse course for good.
In terms of growth scenarios, XRP could test and possibly break through the aforementioned resistance level. This would open the way to $0.70, and consolidation around this price level would become the basis for growth towards $1.
Although the formation of a golden cross has always been a reliable indicator of growth, it is not a guaranteed indicator of future price movements.
The hidden model of Bitcoin
Bitcoin gives us something to talk about, as the charts hint at a hidden pattern that could be good news for investors. On the four-hour chart, an inverse head and shoulders pattern has formed, which is often considered a positive sign.
Looking closely at the numbers, Bitcoin showed us a bottom, known as a “head,” at around $62,430, which is a key level for Bitcoin. After that, it rose and fell again to form the “shoulders” at around $68,000, but not as low as the head. This is important because it shows that Bitcoin does not want to go lower than this level.
What’s exciting is that Bitcoin is now moving upward, reaching what we call a “high.” The price to watch is $64,433, because if Bitcoin manages to surpass this point and stay there, it could herald the start of a big upward move.
If we imagine a little into the future, a growth scenario would be for Bitcoin to surpass this $68,000 level. If it manages to maintain its position above this level, the next stop could be around $69,000, which would pose a new challenge for Bitcoin.
But remember that Bitcoin can be unpredictable, especially after a severe correction like the last one we saw on the chart. The unexpected drop to $70,000 has clearly become a reason to speculate on the future of this rally and the potential that digital gold can show in 2024. Recently, leading analysts from Bernstein set the target price level Bitcoin to $90,000 by the end of the year. year.