Home Altcoins News Shiba Inu, XRP, and Ethereum Show Signs of a Strong Recovery

Shiba Inu, XRP, and Ethereum Show Signs of a Strong Recovery

crypto market trends

The cryptocurrency market is once again showing signs of life, with assets like Shiba Inu (SHIB), XRP, and Ethereum (ETH) making notable moves that have caught both traders and analysts off guard. While the overall market direction remains uncertain, there are clear signals that the bulls could be preparing to take charge again.

Shiba Inu: Support Holds, But Bears Still Linger

SHIB surprised traders by rebounding off its long-term support at $0.00001200, a level it has tested multiple times. After briefly climbing above the 50-day exponential moving average (EMA) earlier in June, SHIB met resistance at the 100-day EMA, around $0.00001392, and has since struggled to maintain upward momentum. As of now, it’s hovering just above that key support zone.

The tight trading range has created an indecisive environment, with neither bulls nor bears committing heavily. Daily trading volumes have been declining, suggesting a lack of strong conviction on either side. Adding to the uncertainty is SHIB’s position below all three major EMAs (50, 100, and 200-day), which continue to slope downward. This configuration supports a longer-term bearish outlook unless something changes dramatically.

The Relative Strength Index (RSI) is currently near 45, indicating weak momentum and a slight edge for sellers. If SHIB were to fall below the $0.00001200 level, it could open the door to further declines, possibly revisiting the March lows around $0.00001050. However, if bulls manage to push the price above the $0.00001392 resistance level, and do so with strong volume, it could mark the beginning of a meaningful recovery.

XRP: Breaking Out, But Needs Confirmation

XRP has staged a strong move upward, decisively breaking above its 50-day and 100-day EMAs. This is a bullish technical development that has renewed hope among traders and long-term holders. The token is also holding its ground above the 200-day EMA, reinforcing the view that a significant trend reversal may be underway.

However, the breakout hasn’t been accompanied by a major spike in volume. That lack of strong buying pressure makes some analysts cautious, suggesting this move could turn out to be a “fakeout” — a temporary push above resistance that quickly reverses.

The RSI for XRP sits in the mid-50s, which reflects moderate bullish momentum but also leaves room for potential volatility. For traders looking for confirmation, a sustained close above both the 50 and 100-day EMAs, coupled with increasing volume, would be a key signal. Conversely, if the price dips back below those levels, the rally could quickly turn into a failed breakout.

Ethereum: Solid Recovery Signals a Bullish Reversal

Ethereum has bounced strongly off key support and surged past the $2,600 level. This rally is backed by solid technical indicators, making it one of the most promising developments in the market this week. After spending weeks within a descending channel, ETH has now broken into an ascending pattern — a classic sign that the downtrend may be over.

Currently, Ethereum is well above its 50, 100, and 200-day EMAs, all of which are now acting as strong support levels. The sustained price movement above these lines suggests that sellers are losing grip while buyers are regaining control.

Another bullish signal is the strength of the recent volume. Unlike SHIB and XRP, Ethereum’s rally has come with healthy trading volume, indicating real market interest rather than speculative bursts. The RSI sits in the low 60s, confirming that momentum is in Ethereum’s favor but that the asset still has room to climb before becoming overbought.

A key level to watch is $2,800 — ETH has managed to stay above it during recent sessions. Holding this level could pave the way for a move toward $3,000, a psychologically important milestone that would further confirm the start of a new uptrend.

Conclusion: Bullish Hints, But Caution Remains

While Ethereum appears to be leading the recovery, both SHIB and XRP are showing early signs of bullish potential. However, the lack of strong follow-through in SHIB and moderate volume in XRP suggest the market hasn’t fully committed to a new uptrend just yet. Traders and investors should keep a close eye on key resistance and support levels, as well as trading volume and RSI indicators, to assess whether these breakout attempts have legs or are just temporary blips.

In this mixed environment, discipline and caution are critical. The market may be preparing for a shift, but until confirmation arrives across the board, the best approach may be to stay flexible and responsive to incoming data.

 

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Julie Binoche

Julie is a renowned crypto journalist with a passion for uncovering the latest trends in blockchain and cryptocurrency. With over a decade of experience, she has become a trusted voice in the industry, providing insightful analysis and in-depth reporting on groundbreaking developments. Julie's work has been featured in leading publications, solidifying her reputation as a leading expert in the field.

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