Shiba Inu (SHIB) Endures Current Market, XRP Faces Challenges in Downtrend, and Cardano (ADA) Expansion: Too Soon?
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Arman Shirinyan
As the market gains momentum, a range of assets demonstrates resilience.
The Shiba Inu (SHIB) token is currently trading close to a pivotal price point, lingering below the 50-day moving average that serves as dynamic resistance. It’s testing the 100-day MA for support, with the price near this indicator.
SHIB’s market exhibits signs of weakness—signaled by inadequate trading volume, indicative of an ambiguous trend that could lead to either a bullish breakout or a bearish downturn.
The RSI sits at a neutral level, suggesting potential for either upward or downward movement, while the market’s indecision could lead to a period of sideways trading.
XRP is facing a downward pressure, confined within a descending channel, which reflects a bearish outlook. Multiple resistance levels pose a challenge to XRP’s short-term price trend.
Cardano exhibits initial signs of strength with a recent rebound, yet it’s premature to conclude a steady uptrend. Key resistance levels must be surpassed to confirm a bullish trend.
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