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As the Golden Cross approaches formation, the Shiba Inu is showing signs of a possible breakout. The 50-day moving average crossing above the 200-day moving average is a bullish pattern that often increases market momentum significantly. SHIB has been steadily rising from its recent lows, and a golden cross could quickly recover the market and pave the way for a sharp rally.
If Shiba Inu can form a golden cross, we may see a sharp rise in price movement. Golden crosses have historically been used to signal the start of a long-term uptrend and elicit additional buying pressure from traders and investors. SHIB could break above the resistance level with an initial target of $0.00002000. If traders take advantage of the strong bullish signal, the price could move higher towards $0.00002500 and above.
This could also help reignite interest in meme coins given the market mood, leading to a surge. Conversely, there are also situations where SHIB misses the Golden Cross. If the 50-day moving average loses momentum or the market decline widens, it may be difficult for SHIB to make further highs.
In this scenario, the price could retreat to the key support level below $0.00001500, which would restart consolidation and halt the bullish move. Traders can predict the future direction of SHIB by noting these price levels and the general state of the market while waiting for this important signal.
Solana problem status
Based on a potential double top pattern, a bearish formation that suggests a possible reversal, Solana appears to be at a critical juncture. Such a pattern occurs when an asset reaches its peak price twice but is unable to exceed it. If SOL loses momentum, the double top pattern could be in trouble, which would worry traders and investors.
A key support for Solana is currently at $141, which could have a significant impact on future stock price movements. If SOL falls below this level, a break in the double top pattern could indicate a more severe downside. The next support in this scenario would be at or near $130, and SOL could try to find a bottom here.
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If these levels are not maintained, the asset may enter a long-term downward trend. Solana needs to break above $160 on the upside to deactivate the double-top formation.
While the current pessimism persists, Solana may find it difficult to maintain meaningful upside. Solana's robust ecosystem and widespread adoption means that even in its current bearish settings, it still has great potential going forward. Users and developers are attracted to this project because of its ability to manage large amounts of data at high speeds. Despite the uncertain near-term outlook, SOL's long-term fundamentals remain positive.
Significant resistance for Ethereum
The direction of Ethereum’s price in the near future is likely to be determined by the level of resistance it currently faces. A key barrier preventing ETH from entering a stronger uptrend is the 100 EMA. Ethereum struggles with this technical level, and price trends often stall below it.
This difficulty is further exacerbated by Ethereum's recent trend of declining trading volumes. If volume is low, the asset may find it more difficult to overcome resistance, which usually indicates a lack of buying interest. This drop in activity makes ETH more susceptible to a possible reversal if it fails to build enough momentum. Ethereum will encounter resistance at the $2,700 level, which corresponds to the 100 EMA, in the near future.
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If ETH can break out of this zone, it could pave the way for stronger upside and perhaps a higher price target. However, if the price fails to break below $2,700, further consolidation or a rebound could occur. Despite these temporary hiccups, Ethereum is still trending upwards and showing an overall positive trend. The long-term outlook for this asset remains positive due to strong fundamentals and continued network expansion.
If Ethereum clears the 100 EMA and $2,700 resistance, it could return to a strong uptrend and regain bullish sentiment. However, volume reduction remains a problem. In order for Ethereum to maintain its momentum and decisively break through resistance, purchasing volumes will need to surge.
