XRP Golden Cross Coming, Shiba Inu (SHIB) Bull Market: Here’s When and How, Was Solana (SOL) Denied at $150?

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As a seasoned researcher with over two decades of market analysis under my belt, I have seen countless golden crosses and failed predictions come and go. However, the upcoming potential golden cross for XRP has caught my attention due to its recent price stabilization. Despite the unpredictable nature of the crypto market, this technical indicator could potentially attract more buyers if confirmed, with key levels around $0.5364 and $0.5648 being critical to watch.

For the digital currency XRP, the bullish technical indicator called the ‘Golden Cross’ is on the horizon. This pattern occurs when a longer-term moving average (such as the 200-day EMA) rises above a shorter-term moving average (like the 50-day EMA). Known as the Golden Cross, this event can signal a significant increase in the asset’s value.

This ‘crossover’ is often viewed as a trustworthy indicator of growing bullish energy, possibly hinting at a long-term rise in XRP‘s value. After some market turbulence, it seems that XRP’s price trend has become more consistent on the current graph. The 200-day and 50-day Moving Averages are approaching each other, which might soon lead to a ‘golden cross’ formation.

XRP Golden Cross Coming, Shiba Inu (SHIB) Bull Market: Here's When and How, Was Solana (SOL) Denied at $150?

As a researcher, I’ve noticed that the golden cross strategy is often employed by traders to enter long positions. If this pattern materializes, it could potentially attract more buyers. I recommend keeping an eye on significant levels at approximately $0.5364 and $0.5648 in the near future. The likelihood of a golden cross increases if XRP manages to surpass these resistance levels while the moving averges continue to converge. If a confirmed golden cross occurs, XRP might target higher prices such as retesting the $0.60 level and potentially beyond.

Due to the market’s volatile nature, it’s essential to approach it with caution. While the golden cross is a positive sign, it’s not infallible. The price fluctuations of XRP could still be influenced by external factors and the overall market sentiment. Therefore, before making any moves, traders should closely monitor the situation and assess potential risks.

Shiba Inu remains in trouble

Despite a continuous drop in Shiba Inu (SHIB) prices over the past few months, there seems to be a potential sign of an impending reversal. For traders aiming to capitalize on the upcoming trend, it’s crucial to identify key price points where SHIB might witness a change in its momentum.

Currently, SHIB is hovering around the $0.00001357 point. While this area has provided some support, it hasn’t been robust enough yet to initiate a consistent upward movement. Keep an eye on the $0.0001508 level for signs of a stronger reversal. A surge above this price might signal the beginning of a new upward trend, indicating that SHIB has successfully overcome a significant resistance barrier.

Keep an eye out for the significant level of $0.00001621 as it’s an important point to track. This price aligns with the 50-day Exponential Moving Average (EMA), making it a technical and psychological hurdle. If SHIB manages to surpass this barrier, it might suggest a potential test of the next substantial resistance. Meanwhile, remember that the vital support to watch is the $0.00001000 level.

If SHIB maintains its current levels, it might continue climbing towards the $0.00001824 mark, a historical resistance point represented by the 200-day Exponential Moving Average (EMA). Reaching this level could signal a significant milestone in its upward momentum. However, if it falls below the current levels, it could halt any bullish movement and potentially lead to further decreases.

Solana failed to break through

Lately, Solana’s efforts to exceed $150 have been met with opposition, causing the price to dip back to $144. This pushback at $150 could be an early indication of a potential price drop, possibly driving SOL below $100. However, this initial resistance shouldn’t be cause for undue concern without considering the broader market situation.

Instead of plunging at the moment, Solana seems to be moving sideways rather than upwards significantly. The current market activity suggests that while the bears haven’t completely seized control yet, the bullish energy is waning. At present, Solana is being traded around the $144 price point, which functions as a crucial support level. If this support holds steady, Solana might instead stabilize within a range rather than falling drastically.

If Solana (SOL) maintains its current trend, the market could remain in this phase for an extended period. The significant support level is around $139, while $150 acts as a strong resistance point. Should SOL break below $139, it might trigger bearish feelings and potentially drive the price towards $100.

Despite the current absence of a strong downward trend, this situation seems less probable at present. On the contrary, if Solana manages to regain its strength and attempts to surpass the $150 resistance again, it may suggest a resumption of the upward trend. To make an informed prediction about the next move, traders should monitor price movements and volume increases around these crucial levels.

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2024-08-14 03:54