Bitcoin rises to US$64500, XRP and Shiba Inu are showing signs of recovery

Bitcoin, Ripple and Shiba Inu have each begun to show preliminary signs of recovery after a long period of downward pressure and market uncertainty. All three assets are currently facing key levels of technical resistance that will determine whether their recent gains mark the beginning of a sustained rebound or are just a brief correction.

Ripple attempts to break through resistance

Ripple has begun to recover after weeks of trading below falling resistance, which had previously suppressed upward momentum. The asset rebounded from a low near $1.00 at the end of June, avoiding another new low and halting further expansion of the bearish trend.

Currently, Ripple is testing a key resistance level formed by the intersection of its 26-day exponential moving average and a downtrend line at US$1.12. This area is an important decision-making range for traders. If Ripple can break through this barrier, it will mark the first time in weeks that the seller has lost control.

The structure of Ripple\'s current trend is different from classic technical reversal patterns, such as double bottoms or panic selling spikes. On the contrary, prices have gradually stabilized and are slowly attracting new buying interest. Momentum indicators (including the relative strength index) have turned upwards and moved closer to the neutral zone, reflecting a moderate return in demand and not triggering an overbought signal.

Buyers of Ripple stepped in at $1.00, stopping further declines and bringing the asset back to the familiar resistance zone that had previously contained a rebound. If demand continues, the next upside target will be $1.17 (close to the 50-day index moving average), with greater resistance expected in the $1.25 to $1.30 range. On the downside, bulls need to maintain support around US$1.05 to maintain the recent recovery momentum. Although the broader trend remains bearish (both the 100-day and 200-day moving averages are above current prices), market sentiment has become more optimistic than in the past few weeks.

Key levels: Resistance-US$1.12 (26-day index moving average/trend line), US$1.17 (50-day index moving average), US$1.25 -1.30; Support-US$1.05; Key moving average-100/200-day index moving average above price.

Shiba Inu Coin Stabilizes

The meme cryptocurrency Shiba Inu Coin, known for its high volatility, is beginning to stabilize after one of the most difficult periods this year. Despite the continued negative trend, Shiba Inu managed to hold on to its low at the end of June and is currently trading at approximately US$0.0000440.

The asset is consolidating, and buyers stepped in even as the moving average was above the current price, creating significant resistance, preventing the price from reaching a new low. This consolidation phase may lay the foundation for a larger market recovery, but it still needs to be confirmed. Shiba Inu\'s relative strength index has rebounded from oversold conditions, but remains below the threshold usually associated with strong bullish reversals. The recent increase in trading volume suggests that funds are turning to fundraising and suggests sellers are losing their dominant position, but resistance remains at the 26-day index moving average of about $0.0000460.

If buyers are able to break through this initial resistance, the next level of resistance includes the 50-day exponential moving average (approximately $0.0000480) and the 100-day moving average (approximately $0.0000530). However, analysts warned that as long as Shiba Inu remains trading well below its 200-day moving average, a clear trend shift has not yet occurred.

Current price--US$0.0000440; key resistance-US$0.0000460 (26-day exponential moving average), US$0.00000480 (50-day exponential moving average), US$0.00000530 (100-day moving average); key moving average-200-day moving average is above price.

Despite the long-term decline, Shiba Inu entered a consolidation stage suggesting that if the buying momentum continues, a reversal may occur.

Bitcoin approaches key resistance

Bitcoin is currently trading at $64,500 after rallying from lows below $60,000. This recovery was supported by stable trading volumes and a recovery in the Relative Strength Index above 50, indicating real market demand. However, the main challenge is the 50-day index moving average (currently at $65,400), which has repeatedly posed an obstacle in previous attempts to rebound.

A clean breakthrough of $65,400 is seen as a critical step in Bitcoin\'s transformation of the mid-term narrative. Such a move could attract more buyers and open the way to the 100-day index moving average of $69,000 or even the 200-day moving average of $75,000 (a level widely seen as a watershed between long-term bullish sentiment and bearish sentiment).

If Bitcoin fails to break the 50-day index moving average again, analysts say this will strengthen existing downward pressure and could push prices back into the US$60,000 support area. Many traders point out that there is little significant resistance between the 50-day and 100-day moving averages, so if the bulls win, a successful breakthrough is likely to trigger a rapid rise in prices.

The current trend is seen as a promising recovery before US$65,400 is recovered, but does not confirm a shift into a new bullish trend.

Current price-$64,500; key resistance-$65,400 (50-day exponential moving average),$69,000 (100-day exponential moving average),$75,000 (200-day moving average); key support-$60,000.

Small Dictionary

Exponential Moving Average (EMA): A technical indicator that gives greater weight to recent price data to measure trends and is often used to identify potential support or resistance levels in asset trading.