Golden Cross Isn’t Enough, Shiba Inu (SHIB) Volume Nears 0, XRP Risks Losing $2, but $3 is Possible

Shiba Inu’s questionable volume XRP is not stable The price action of Bitcoin is exhibiting signs of weakness and hesitation even though it printed a golden cross. The price of the flagship cryptocurrency is currently down a little to $95,484 after recently rising toward $96,000 with little to no follow-through momentum. The problem: Despite its positive symbolism, the golden cross has not generated the institutional interest or volume spike that would normally be required to start a long-lasting rally. BTC may be approaching an overbought zone with little strength to push higher in the near future as evidenced by the volume already waning from the April breakout and the cooling RSI near 64. Investors may need to lower their expectations if they are anticipating a spectacular breakout. Given its current price structure, which points to a stall, Bitcoin may easily revert to the $91,000 support zone if momentum doesn’t pick up quickly. From a structural perspective, it is technically encouraging that Bitcoin has regained all of the major EMAs (50, 100 and 200). The absence of buying pressure following the breakout, however, is concerning. The macro environment continues to be significant. ETF flows have subsided following the large inflows at the start of May, and overall market sentiment is still risk averse as a result of macroeconomic uncertainty. The price of Bitcoin could consolidate between $91,000 and $96,000 in the absence of new catalysts. Traders should keep a close eye on the $91,000-$90,000 level in the near future. The recent bullish structure may be invalidated by a breakdown below this zone, but bullish momentum may be reignited by a clean breakout above $97,000 with fresh volume. Shiba Inu’s questionable volume Shiba Inu’s short-term price momentum may be seriously jeopardized by the concerning drop in trading volume. The meme token is currently trading just above the $0.00001296 threshold, and its daily volume has dropped precipitously, landing it at some of the lowest levels in recent weeks. Volume is frequently used as a stand-in for investor interest and purchasing pressure, and SHIB’s present course is a stark warning. According to the chart, SHIB recently made an effort to rise above significant resistance levels, but any gains were swiftly halted by the absence of follow-through volume. With momentum waning and the Relative Strength Index (RSI) falling close to neutral territory, SHIB now seems to be gradually moving in the direction of the 50-day EMA, which is located at the $0.00001274 level. The closest line of support for this EMA might momentarily stop the decline, but the larger picture points to a more serious problem. You Might Also Like The abrupt decrease in volume is a warning sign. Future attempts at recovery are likely to be short-lived or possibly fail completely if there is not enough trading activity to support price movements. This kind of volume collapse has historically preceded sideways movement or further declines in assets such as SHIB, particularly when there are no powerful catalysts present. The $0.0000120-$0.0000118 region would be the next logical zone if SHIB were to lose the 50 EMA support. Technically, a bounce from the current configuration is still feasible, but the odds are more in favor of consolidation or additional retracement than a fresh lead. XRP is not stable XRP is perched on a precipice. The asset is displaying indications of weakness as it consolidates within a narrowing range even though it is still holding above the $2 threshold. A classic volatility squeeze is indicated by the flattening volume and visible descending channel; historically, this configuration has produced sharp directional moves. The issue is that it’s unclear which way XRP will break. With its current price around $2.19, XRP is perilously close to a significant support level. A decline below $2 might set off a more extensive retracement, which would move the asset in the direction of the 200 EMA at $1.99. There appears to be no discernible momentum as the RSI stays neutral at about 51. Traders are clearly waiting for a catalyst before making a commitment as evidenced by the dry spell in volume. You Might Also Like Potential energy accumulation is the drawback of this low-volatility environment, though. The $3 mark would be the next psychological and technical target if XRP is able to secure a daily close above $2.25-$2.30 and break above the upper boundary of its descending channel. The contradictions in XRP’s signals are the problem. A bullish continuation pattern may develop as a result of the price action’s consolidation. However, there are concerns raised by the lack of volume and the inability to generate long-term momentum following prior rallies. The $3 target is conceivable but not assured due to market-wide uncertainty and XRP’s internal resistance levels. Source: https://u.today/bitcoin-btc-golden-cross-isnt-enough-shiba-inu-shib-volume-nears-0-xrp-risks-losing-2-but-3-is