Will It Continue or End Here? Shiba Inu (SHIB) is Missing Out Massively, Bitcoin (BTC) Paints Problematic Divergence
The post Will It Continue or End Here? Shiba Inu (SHIB) is Missing Out Massively, Bitcoin (BTC) Paints Problematic Divergence appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. XRP has grown remarkably breaking through the $1 threshold and hitting new highs as a result of higher trading volumes and more investor interest. But given the present momentum it begs the question: will XRP be able to maintain its upward trajectory or will a reversal soon occur? According to the provided chart an RSI reading above 80 indicates that XRP is in an overbought phase. This usually indicates that a correction is likely to occur soon. The asset continues to attract interest as evidenced by the high trading volumes. Additionally technical levels are very important. XRP is facing resistance around the $1.10 mark which it has yet to break through convincingly. XRP/USDT Chart by TradingView Support is situated between $0.95 and $1.00 which may be a crucial level in the event of a correction. XRP may continue its rally to $1.20 and higher if it can overcome the present resistance at $1.10. But sustained trading volume and ongoing investor interest are needed to keep this upward momentum going. If not there’s a good chance that the market will head back to the support area which is centered around $0. 95 and has a lot of buy orders. In the near future holders of XRP might experience volatility particularly if profit-taking starts after the recent surge. Long-term…
Filed under: News - @ November 18, 2024 12:12 am