Shiba Inu (SHIB) has faced a significant decline, breaking the crucial 50 Exponential Moving Average (EMA) support level and coming into contact with the 100 EMA support point. This suggests a shift in market sentiment and complicates SHIB's recovery prospects.
Traders are closely monitoring the asset's ability to stabilize around the 100 EMA, as a failure to do so could lead to further declines. On the other hand, if SHIB regains momentum, it may test the 50 EMA as a new resistance level. The future trajectory of SHIB depends on broader market conditions and investor sentiment.
XRP initially broke out of a descending price channel, indicating potential bullish momentum. However, the anticipated upward movement has not materialized, raising concerns about the sustainability of the bullish formation. XRP's inability to maintain buying interest has invalidated the bullish setup, and its short-term direction is uncertain.
If the price drops below $2.10, it may test lower support levels around $1.75.
Dogecoin (DOGE) has experienced a significant price increase but is now testing the critical 50 EMA support level. The 50 EMA has historically served as a turning point for DOGE, and its ability to hold above this level is crucial for maintaining upward momentum. Recent trading volume suggests that the current pullback may be a normal correction rather than a bearish reversal.
If DOGE can maintain its position above $0.35, a recovery to $0.40 and beyond may be possible. However, if the 50 EMA fails to provide support, the next critical level to watch is around $0.28.
The short-term outlook for Dogecoin depends on its ability to hold above the 50 EMA, as traders monitor volume and market sentiment for any significant shifts.