With a 4.56% gain, Shiba Inu broke above the local descending trendline and moved prices to around $0.00001354

With a 4.56% gain, Shiba Inu broke above the local descending trendline and moved prices to around $0.00001354, showing the first indications of a possible reversal.

Shiba Inu price showed the first signs of a possible reversal as it broke above local descending trendline with a 4.56% gain.

Shiba Inu price is trading at around $0.00001354 at the time of writing, showing the first indications of a possible reversal as it broke above the local descending trendline with a 4.56% gain.

This move comes after years of consolidation around the $0.0000122 support zone, which acted as a base during increased whale outflows.

A bullish crossover in the RSI, which is now above 50, and rising volume support suggest a change in sentiment. This is highlighting a shift in momentum.

Shiba Inu price is approaching its next crucial technical level as it moves to test the 50-day EMA, which is currently trading at $0.0000142.

If SHIB can break and hold above this resistance, it could open the door to the 100 EMA and the psychological threshold at $0.0000160.

However, on longer time frames, caution is still warranted as SHIB remains below the 200 EMA and the overall trend structure is still bearish.

A interesting part of the recent price action is the on-chain activity from earlier in the week, especially the 5.54 trillion SHIB outflow by large holders on March 20.

While there wasn’t much of an immediate reaction, the asset has since begun to rise, implying that some of those funds may have left exchanges to accumulate in a strategic manner.

Everyone will be watching for follow-through momentum as Shiba Inu regains a brief uptrend and threatens to break above moving average resistance.

While failure to break higher could lead to ongoing range-bound behavior, sustained buying interest above the 50 EMA could help confirm a local bottom.

XRP finally moves as it breaks 50-day EMA

In a noteworthy technical development, XRP has managed to breach the 50-day exponential moving average (EMA), a crucial technical level that had been limiting its upward momentum for weeks.

As of March 24, XRP is trading at about $2.48, showing a 1.69% increase for the day. A confirmed breakout above this important level would further support bullish sentiment.

Since early February, the 50 EMA has continuously acted as a dynamic resistance, currently trading just below $2.40.

This breach appears to be shifting the market structure, indicating that bulls might be regaining control after an extended period of consolidation.

The fact that this move occurs within a descending channel where the asset has been coiling for weeks makes it especially interesting for XRP. The upper limit of the descending pattern is currently being pressed by the price.

A breakout attempt could be validated by a successful close above this range with the $2.80-$3.00 resistance zone as the next possible target.

Despite not being explosive, volume shows steady accumulation, and the RSI has risen above 53, suggesting increasing momentum.

This move is further highlighted by its proximity to the 100 EMA, which is being approached.

If XRP can maintain its position above the 50 EMA and manages to test the descending trendline, it might be the beginning of a longer-term rally.

As long as the asset stays above the 200 EMA at about $1.92, which acts as a macro support floor, the overall structure continues to warrant cautious optimism.

Bitcoin shows potential for more gains as it approaches crucial resistance levels

Once again, Bitcoin is demonstrating a significant rise in momentum, reaching $88,507 and getting closer to the crucial psychological barrier at $90,000.

The recent breakout from an ascending triangle formation indicates growing bullish pressure, and the market now seems set to retest important resistance levels at the 50 and 100 EMA zones.

The first significant resistance is located close to $90,237, where the 50-day EMA is heating up. The 100-day EMA is next at about $90,291.

A clear break above this confluence might pave the way for a long-term move above $90,000 and potentially spark a new wave of institutional and retail interest.

This bounce from the 200 EMA (black line), which served as a reliable dynamic support at $85,000, adds even more credence to the bullish argument.

This bounce, which also contributes to the belief that Bitcoin might be preparing for another leg higher, is also keeping the market's confidence in the long-term trend.

However, traders should pay attention to the increasing divergence between price and volume.

While Bitcoin continues its