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SHIB即将迎来爆发?关注三个DOGE关键价格水平、XRP能否实现复苏?

Is SHIB about to have a breakout? Pay attention to three key price levels of DOGE, can XRP achieve recovery?

Jinse Finance ·  Oct 12 15:02

Shiba Inu is approaching the point where the symmetric triangle pattern on the K-line chart indicates that the price may soon fluctuate significantly. These patterns historically indicate that volatility is likely to increase as assets leave the triangle boundary.

Currently, SHIB prices are stabilizing within the narrowing range of the triangle; usually, austerity policies precede strong trends in either direction. When assets break through these patterns, momentum tends to pick up quickly, which can lead to significant price increases. As far as SHIB is concerned, the asset's price could rise significantly if it breaks through important resistance levels.

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The coin is likely to achieve a more significant breakout at the first resistance level (around $0.000018). Next is $0.000020 and above. If bullish sentiment intensifies and volume supports this trend, SHIB may once again try to reach higher price levels, as it did earlier this year.

On the negative side, it's important to remember that if SHIB fails to sustainSupport levelAbove, it is likely to return to the $0.000015 range. If the price does not stay where it is, it may cause the value to drop even more drastically.

XRP's Subtle Recovery

XRP has recovered slightly over the past 24 hours, which could be the beginning of the asset's long-term reversal. After the price movement was suppressed for the past two weeks, this upward momentum gave traders hope for a rebound. But there are still major hurdles to overcome.

XRP fell sharply at the end of September and lost a significant portion of its value in a short time based on recent price movements. The sell-off sparked a bearish sentiment, and there wasn't enough buying pressure to stop the decline thereafter. As the token tries to regain its appeal, the lack of strong buyers' support is worrying. Technically, XRP is trying to overcome the $0.55 resistance level, which is critical for the asset to maintain its momentum.

A profitable discovery could pave the way for a shift in the direction of the $0.60 range. But in the absence of significant bullish support, XRP may find it difficult to break through this. XRP must stay above the $0.50 support level if it is to avoid further selling pressure and prevent the market from being dominated.

If this level is breached, the price may continue to fall, indicating a possible bearish trend. Despite a slight increase, traders should proceed with caution as overall market sentiment remains unstable, and XRP does not have the kind of strong buying interest that would support a long-term recovery.

DOGE reversal is coming

Dogecoin has been consolidating, but there are signs that a possible reversal is imminent. As the asset tries to regain momentum, investors should pay particular attention to three key price levels. The $0.116 area where Dogecoin has experienced resistance in the past is the first key level.

Breaking through this barrier could indicate the beginning of a stronger uptrend. Furthermore, the important moving average, which has been an obstacle for this asset in recent weeks, is shown in orange at this level. If DOGE can clearly break above $0.116, there could be more gains.

Around $0.108 is the second level to watch, acting as both support and resistance over the past few months. Because it marks the middle of Dogecoin's current trading range, this area is very important. Failing to hold this level, the asset could move towards lower support levels, but a rebound from here would indicate that bullish momentum is building.

Finally, the $0.100 psychological level is still important. This circular number is consistent with the black 200-day moving average on the K-line chart and is an important psychological barrier. If Dogecoin can maintain its position above $0.100, it will show strong support and be able to avoid further decline.

The translation is provided by third-party software.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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