Don’t Get Too Bullish for $100,000

Shiba Inu revitalized Bitcoin recovers Ethereum just blew through several resistance levels in a matter of hours, igniting the cryptocurrency market with a stunning 31% surge. The 200-day moving average, which frequently distinguishes between bullish momentum and bearish continuation, is just below the $2,300 mark, which the rally has propelled ETH above. According to the price action, as of right now, this may be the start of a significant structural reversal rather than merely a random spike. With robust volume supporting the move, Ethereum has technically broken through the 50 EMA, 100 EMA and even 150 EMA in a single sweep. Although RSI is currently just above 81, which would typically indicate caution as it is entering overbought territory. However, explosive moves such as these RSI extremes can last longer than usual. The enormous candle not only breaks the previous downward trend but also makes way for a move toward $2,600 and higher, with the psychological $3,000 zone as the potential next macro resistance level. When Ethereum showed this kind of rally behavior previously, it resulted in months of steady upward movement. In general, investor sentiment toward Ethereum is rapidly improving, particularly as institutional interest in the post-ETF narratives grows and ETH/BTC parity is given renewed attention. Ethereum is probably going to follow Bitcoin’s lead as it gets closer to $100,000, taking advantage of positive market sentiment. In the short term, it would not be shocking to see a slight decline or consolidation around $2,300 to $2,400. Nonetheless, Ethereum would validate the breakout and change the overall trend to a bullish one if it closed several daily candles above the 200 EMA. For traders hoping to ride this wave, cautious accumulation and scaling into strength may be the best course of action. Shiba Inu revitalized Based on its most recent price action, Shiba Inu is displaying renewed strength on the charts with a potential breakout toward the $0.00002 level. The asset has effectively surpassed significant resistance levels, breaching the $0.000014 zone and advancing toward the 200-day exponential moving average (EMA), which is presently hovering around $0.000016. Throughout its downward trajectory, this long-term EMA has served as a resolute ceiling for SHIB, and it will be difficult to break through. The recent increase in purchasing volume, however, suggests that the meme coin is gaining traction and interest. This most recent price move is consistent with increases in on-chain and market volume, suggesting that it is backed by market activity and not just a speculative bounce. You Might Also Like The move to $0.00002 is much more likely if SHIB can close a daily candle above the 200 EMA with sustained volume support. Given the historical price congestion and relative thinness in the $0.000016-$0.00002 zone, SHIB may move swiftly closer to its target if the 200 EMA breaks. Since momentum indicators like the RSI are still rising and have not yet entered extremely overbought territory, there is still opportunity for additional growth before a significant decline is anticipated. Although the psychological $0.000018 level has served as both support and resistance in the past, traders should continue to monitor possible resistance there. In other words, Shiba Inu is preparing for a significant run, but it is facing one of its most difficult technical obstacles. The price of $0.00002 is not only feasible but may arrive quickly if bulls can maintain pressure and break the 200 EMA. If this breakout is confirmed or another rejection is indicated, the next few trading sessions will be critical. Bitcoin recovers Unquestionably, bulls enjoyed a significant psychological victory, with Bitcoin’s recent breakout above $100,000, but do not celebrate just yet — this move could be a temporary overextension rather than the start of an unstoppable rally. On the price chart, Bitcoin taps out close to $104,000 after cleanly breaking through the $98,000 resistance. For Bitcoin, this pattern is not uncommon and frequently comes before consolidation or significant declines. This is a warning sign for volume. The volume should be increasing rather than decreasing for a move of this magnitude. The Relative Strength Index (RSI), which typically identifies local peaks at 75, is likewise well into overbought territory. You Might Also Like Furthermore, the current range of important support zones is $98,000 to $95,000. A swift decline back to the $92,000 or even $90,000 region might occur if Bitcoin is unable to maintain above this range. Bulls must defend the 50 EMA, which is approximately $93,000. Long term, the route to $100,000+ is still open, but maintaining a strong rally will probably require more time consolidation and volume. Source: https://u.today/ethereum-eth-at-31-skyrocketing-in-hours-whats-next-shiba-inu-shib-ready-for-000002-bitcoin-btc