$3 Is Next Target, Shiba Inu (SHIB) Price Just Faked It, 145 Days of Ethereum (ETH) Pain Has Ended
The post $3 Is Next Target, Shiba Inu (SHIB) Price Just Faked It, 145 Days of Ethereum (ETH) Pain Has Ended appeared on BitcoinEthereumNews.com.
Shiba Inu breaks in Ethereum finally back With its recent surge and breakout above the descending wedge pattern that has restrained price action since the beginning of 2025, XRP has been attracting the attention of the market. A confluence of resistances including the 50-day and 100-day exponential moving averages was eventually overcome by the digital asset after weeks of accumulation and sideways consolidation, paving the way for what appears to be a long-term surge. A more aggressive bullish leg begins when the breakout above the wedge is confirmed by a close above $2.40. Prior to a minor decline, which is completely typical considering the recent moves, vertical character XRP reached $2.1. All of the major EMAs are currently above the price, including the 200-day moving average at $2.01, which serves as strong long-term support. XRP/USDT Chart by TradingView RSI and other momentum indicators are still high but not extreme, indicating that there is still potential for further growth, particularly if XRP settles in the $2.30-$2.40 range prior to the subsequent leg up. A retest of levels of resistance that have been broken could supply the liquidity required for another push, and the volume has been robust. In order to reach the psychological and technical target of $3, XRP would most likely continue to grind higher. Following the wedge breakout, this level is consistent with Fibonacci extension projections and previous local highs. Technically speaking, there isn’t much substantial opposition until that $3 threshold. A bullish outlook is also supported by on-chain data, which shows enormous wallet activity and a surge in payment volume. Shiba Inu breaks in Shiba Inu just gave traders a classic market fake out by breaking above the 200 EMA and then quickly reversing course to return to its prior trading range. SHIB was able to briefly break…
Filed under: News - @ May 12, 2025 12:07 am