- Ethereum woke up?
- Way for Bitcoin open
With a recent significant technical advance, Shiba Inu may be about to start a long-awaited bull run. The 50-day Exponential Moving Average (EMA), a crucial resistance level that frequently serves as the first gate to trend reversals, has finally been reached by SHIB after weeks of consolidation and muted price action. SHIB has increased by almost 3% on the day and is currently trading at about $0.0000127, indicating a change in sentiment.
Together with increasing volume, the breakout above the 50 EMA points to a rise in market participants’ confidence. The asset is now in a position to test the 100 EMA and possibly target the 200 EMA, which is located close to the $0.0000166 zone, according to this move. Above all, this breakout is consistent with a larger pattern observed on the cryptocurrency market.
Major EMAs have been regained by Bitcoin, and Ethereum is recovering with increasing whale accumulation. Memes like SHIB may benefit from the resurgence of market optimism as the macro environment improves and momentum shifts back toward riskier assets. Now at 54, the RSI is rising gradually but is still well outside of overbought territory. This provides SHIB with a great deal of technical leeway to keep rising without encouraging unwarranted profit-taking.
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If momentum continues, $0.0000148 will be the next significant resistance, and then the psychologically significant $0.000017 level will follow. It is critical to keep support above the 50 EMA in the short term. SHIB will probably draw more inflows from traders and investors, hoping for a longer-term breakout if it can stay above this line. It appears that a new bullish phase for Shiba Inu may be about to begin. SHIB may finally emerge from its months-long decline if the general market rally continues and a true bull run could be in the works.
Ethereum woke up?
With the second-largest cryptocurrency by market capitalization rising by almost 4% to approximately $1,700, Ethereum is finally reviving. Following weeks of poor performance, ETH’s abrupt upward move has boosted investor confidence, particularly since it coincides with a pronounced whale accumulation trend. In the past 10 hours, a well-known whale has taken out another 1,897 ETH or roughly $3 million from Bitget, according to on-chain data.
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In addition this whale has been accumulating 3,844 ETH (~$6. 5 million) since the spree started on April 3. These behaviors indicate sustained faith in Ethereum’s value proposition and frequently come before price rallies. Technically, Ethereum is testing its 50 EMA, which is currently hovering around $1,884 after breaking out of a local symmetrical triangle. This level is crucial because a clear breakout above it might pave the way for a retest of the 100 EMA at $2,229, though that still seems far off.
With rising volume and an RSI of 46 to 45, it appears that momentum is building without yet reaching overbought conditions. Even so, Ethereum is still technically weaker than some of its main rivals, such as Bitcoin, and even meme coins like Shiba Inu, which have conquered significant resistance levels like the 50 EMA. In terms of recovering its long-term moving averages, particularly the 200 EMA — which is significantly higher than its current levels — ETH is still lagging behind.
Way for Bitcoin open
Bitcoin just made a strong move that could pave the way for the elusive $100,000 milestone and rekindle bullish optimism. The 200-day EMA and the 100-day EMA were both confidently broken by Bitcoin as it soared over 2.7% on the daily chart. This technical move greatly enhances the cryptocurrency’s short-term outlook.
The 50-day EMA (black) and overhead moving averages were sandwiched between Bitcoin’s consolidation just below significant resistance levels before this spike. Because of this range-bound behavior, there was uncertainty and potential for volatility to the downside. However, the abrupt upswing above $87,000 bolstered by increasing volume indicates that buyers have taken back control and that Bitcoin is once again gaining ground.
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The death cross — a bearish crossover between short- and long-term EMAs — that was looming on the charts is invalidated by this breakout from a structural standpoint. Bitcoin’s recovery of key technical levels has reduced significant downside risks and created the possibility of a long-term rally, assuming bullish momentum holds.
Another indication that Bitcoin may have space to extend gains is the RSI’s recent ascent above 58, which puts it into bullish territory while remaining far from overbought. Bitcoin might test $90,000 in the near future and keep moving toward the psychologically significant $100,000 mark during the next macro wave if the current rally holds.
Traders should be on the lookout for possible rejection, though, in the $90,000-$92,000 resistance zone, where profit-taking could lead to brief pullbacks. Nevertheless, the general trend is becoming more positive.
