Ethereum (ETH) and Shiba Inu (SHIB) Attract Attention with Strong Rebound, but Newcomer Below $0.10 Steals the Spotlight
The post Ethereum (ETH) and Shiba Inu (SHIB) Attract Attention with Strong Rebound, but Newcomer Below $0.10 Steals the Spotlight appeared on BitcoinEthereumNews.com.
The price of both Ethereum (ETH) and Shiba Inu (SHIB) has seen a bearish movement but has started a strong rebound. In parallel with this resurgence, however, a new crypto market entrant, Rexas Finance (RXS), possesses tremendous appreciation potentials which threaten to upend the entire market. Ethereum’s (ETH) Strong Revival Ethereum, which ranks second in the list of cryptocurrencies by market cap, recently had its price soaring to as high as $2,700. This upward movement indicates the point at which ETH changes direction after a very long sideways consolidation phase. Ethereum is up today due to increased discussions on its price in all social media, luring back the retail investors. The increased activity also saw busy chats regarding Ethereum and in turn an increase in margin and leverage trading. This fostered a BTC margin exchange wallet, a 7-week high in Ethereum margins, sustaining the rising probes into the prospects of the asset. Shiba Inu’s (SHIB) Bullish Rebound Over the last few weeks, SHIB has been trading with bullish price action, something that is more visible, particularly on the 4-hour chart. Following a rebound from the vital support level of $0.00001272, Shiba Inu is trading above its 100-day Simple Moving Average SMA which suggests increasing strength from the buyers. This recent move is due to a more general optimism regarding the currency as it targets a crucial resistance at $0.00002045. Looking at the daily chart, the SHIB token is still on a positive trend as evidenced by the emergence of the bullish candlestick patterns. This usually indicates that the asset may continue pushing high as traders and investors grow more bullish- this is usually normal after such a pattern is formed. A breakout above the $0.00002045 level can pave the way for more upside action as market participants look for quick…
Filed under: News - @ September 29, 2024 3:18 pm