As the second largest cryptocurrency continues to attract investor interest, Ethereum The price consolidated a notable price breakout, indicating bullish momentum. Ethereum is currently trading at around $3,615 after crossing significant resistance levels and continuing on its upward trajectory.

The increase in investor confidence was triggered by the recent move above the $3,500 level, which corresponds to the 50-day Exponential Moving Average (EMA). Ethereum has used this level as a key resistance level in recent months, and its breakout indicates that bullish sentiment is becoming stronger. Investors should watch the $3,700 level as the next resistance level, while the $3,500 level now acts as crucial support.

The 200-day moving average is a reliable measure of long-term bullish momentum, and Ethereum has maintained its position above it on the technical side. Currently, the Relative Strength Index (RSI) is at around 55, indicating that an upward move is still possible without entering the overbought zone. outbreak Ethereum It doesn't happen alone.

There was a surge in activity in the larger cryptocurrency market, with altcoins performing well and Bitcoin holding above $96,000. Ethereum may get the support it needs from this market-wide momentum to soon target the $3,800 region. However, concerns remain about trading volume.

Although ETH price action is clearly bullish, the absence of a noticeable increase in trading volume raises the possibility that the breakout will not receive the broad participation typically seen during long-term rallies. Investors should carefully monitor trading volume to determine the strength of this movement.

It will be crucial for Ethereum to stay above $3,500 and maintain its current momentum in the coming weeks. A path to $4,000 looks more likely if the asset can consolidate above this level and attract more trading volume. On the negative side, Ethereum It may retest the $3,300 support level if it is unable to hold $3,500.

SHIB bounce

After a brief rise in value, the Shiba Inu fell. The 26-day Exponential Moving Average (EMA), a crucial resistance level, was first breached by the asset, but has since fallen to lower levels. At a current price of approximately $0.00002379 USD, GrayThe pair's recent performance shows the ongoing difficulties in maintaining bullish activity.

For SHIB, the absence of large trading volume is one of the main problems. Almost no volume has been seen since the initial breakout, suggesting that investors are not very interested in buying. Due to this lack of participation, SHIB has not been able to establish a more stable upward trend and is now vulnerable to corrections. In addition, technical indicators present a worrying picture.

The fact that the Relative Strength Index (RSI) is now below 50 indicates that downward momentum is in control. Given the downward trend in the RSI and the lack of noticeable uptick in trading activity, it seems doubtful that SHIB will regain its footing anytime soon. The $0.00002254 level is acting as a crucial support at the moment.

Additional declines towards $0.00002100 can be expected then Gray Unable to stay above this level. The next important resistance level is $0.00002552, which the bulls will need to break in order to regain momentum and inspire investor confidence. In the future, low trading volume will continue to be a major constraint.

Solana's potential

SolanaThe price, which is currently trading at $219, appears to have reached a crucial resistance level as it attempts to break above the 50-day EMA. The asset's inability to overcome this level, which has proven to be a formidable hurdle, raises the question of whether its recent upward momentum can be maintained.

Traders often use the 50 EMA as a leading indicator to determine the medium-term direction of an asset. Rejection indicates continued downward pressure, while a break above it usually indicates a change in sentiment toward a bullish outlook. In Solana's case, the 50 EMA acts as a ceiling, stopping further price increases and making it vulnerable to corrections. Currently, Solana is trading at around $213, which is just below this resistance level.

The $240-250 range, which would attract new buying interest, could be the target for Solana's push if the EMA 50 and 26 levels are successfully crossed. But if these important moving averages are not broken, there could be a bounce back to the $200 support level, and if downward pressure increases, there could be additional declines towards $196.

It is important to fight around the 50 EMA right now. A spike in activity may give traders and investors the momentum they need to make a breakout, so they should monitor trading volume carefully. Until then, Solana is still at a turning point, and his immediate future is uncertain.