Ethereum (ETH) is about to face a test, how will Shiba Inu (SHIB) go? Experts interpret ADA trends
Shiba Inu tokens are relevant again. Investors are closely watching whether the current price correction is over and whether SHIB is ready to rebound. However, the lack of immediate support levels nearby raises questions about the possibility of a random reversal.
As of now, the price of SHIB has not been established above any recognized support levels, which brings uncertainty to the coin's immediate future. The next notable support level is the $0.000020 mark. The lack of support nearby could mean that the price may continue to drift until it reaches a more solid foundation
One positive aspect is that the current trading volume is low, which means that less trading activity may be required to significantly move the price. Nonetheless, the other side is that low trading volume may also indicate a lack of interest, which can be a negative indicator for price growth. In addition, there may be passive selling pressure that is not yet evident in the trading volume.
If holders gradually lose confidence and wait to sell, this pressure may become a reality and affect the price of SHIB when it is listed. If SHIB manages to find buyers and initiate a rally, the first resistance level to watch would be around $0.00002271. If broken, the next resistance point could be $0.00002590.
Ethereum is approaching a critical juncture. The price is slowly approaching the 50-day EMA at $3,413, which is generally considered to be an important resistance level. As it approaches this level, Ethereum could encounter selling pressure, which is a typical scenario when an asset tests a key moving average that it has been trading below.
If Ethereum breaks above the 50 EMA, it could lead to accelerated price growth. Such a bullish breakout suggests that buyers are in control, outpacing the sell orders waiting at this critical level.
The recent break above the 26-day EMA is already a positive sign for Ethereum. If this level can be established as new support. The 26-day EMA acting as support suggests that the short-term momentum is turning in favor of the bulls.
To take a more nuanced look at Ethereum’s price outlook, the chart shows that if the 50 EMA is broken, the next resistance target is located around $3,510.Overcoming this hurdle could clear the way for a test of higher resistance levels, likely around the $3,600 region.
Cardano Enters the Game Cardano appears to be changing direction, showing signs of entering an uptrend. The evidence lies in the formation of higher highs and higher lows, a classic pattern that often hints at a trend change, even a localized one. ADA’s recent activity has been notable, especially the recent bounce off the $0.44 mark, indicating strong bullish sentiment in the market.
This positive momentum has been characterized by a series of steadily rising peaks and troughs on the price chart, indicating increased buying pressure. Support around $0.44 has proven to be strong, indicating a solid level of support beneath the ADA price. Each time it bounces off this level, the currency has shown resilience and potential for continued gains.
Like many altcoins, ADA is correlated to the movements of Bitcoin and Ethereum, so recent market performance should not be analyzed outside of broader market trends. Cardano is currently heading towards a major resistance level around $0.5, where it could battle bears for a long-term uptrend. A sharp reversal is indeed possible, but only if bulls can catch ADA’s momentum and help it break above the 200 EMA.
