Shiba Inu (SHIB): Lift off Beginning? XRP Performs Top-Tier Breakthrough, Bitcoin (BTC): $90,000 Next

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. Years of consolidation around the $0.0000122 support zone, which served as a base during increased whale outflows, preceded this move. 

A bullish crossover in the RSI, which is currently above 50 and increasing volume support, suggests a change in sentiment. A shift in momentum is indicated by this, positioning SHIB to test the 50-day EMA, which is presently trading close to $0.0000142, its next crucial technical level. It may be possible to break and hold above this resistance, opening the way to the 100 EMA and the psychological threshold at $0.0000160. 

However, since SHIB is still trading below the 200 EMA and the trend structure is still bearish overall, on longer time frames, caution is still necessary. An intriguing element to the current price movement is the on-chain activity from earlier in the week, especially the 5.54 trillion SHIB outflow by large holders on March 20. 

Although there were few immediate reactions, the asset has since started to rise, indicating that some of those funds may have left exchanges to accumulate strategically. Everyone will be watching for follow-through momentum as SHIB is regaining a brief uptrend and threatening 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

By breaking through the 50-day exponential moving average (EMA) that had been limiting its upward momentum for weeks, XRP has accomplished a noteworthy technical feat. As of March 24, XRP is trading at about $2.48, up 1.69% for the day. A confirmed breakout above this crucial level would further support bullish sentiment. Since early February, the 50 EMA has continuously served as a dynamic resistance, currently trading just below $2.40. 

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The market structure appears to be changing as a result of its breach, indicating that bulls are starting to regain control following an extended period of consolidation. Because it occurs within a descending channel where the asset has been coiling for weeks, this move is particularly significant 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 exhibits steady accumulation, and the RSI has risen above 53, suggesting increasing momentum. Its closeness to the 100 EMA, which is currently being approached, adds even more significance to this move. 

It may be the start of a longer-term rally if XRP can maintain its position above the 50 EMA and successfully test the descending trendline. As long as the asset remains above the 200 EMA at approximately $1.92, which acts as a macro support floor, the overall structure continues to encourage cautious optimism. 

Bitcoin’s back

Once again, Bitcoin is demonstrating a significant rise in momentum, reaching $88,507 and moving closer to the crucial psychological barrier at $90,000. Growing bullish pressure is indicated by the most recent breakout from an ascending triangle formation, and the market now appears ready to retest important resistance levels at the 50 and 100 EMA zones.

The 50-day EMA is the first significant resistance located close to $90,237; 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 possibly spark a fresh round of institutional and retail interest. Bitcoin’s successful recovery from the 200 EMA (black line), which served as a dependable dynamic support at $85,000, adds even more credence to the bullish argument. 

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The market’s confidence in the long-term trend is strengthened by this bounce, which also lends credence to the notion that Bitcoin might be preparing for another leg higher. Traders should pay attention to the increasing discrepancy between price and volume, though. Despite Bitcoin’s ongoing upward trend, trading volume has not kept pace. If this type of divergence is not addressed by a volume increase in the upcoming sessions, it frequently indicates waning momentum and may be an indication of possible exhaustion.

There is still potential for more upside before the RSI reaches overbought territory, but it is currently trending upward at 53.78. The move runs the risk of becoming a transient spike in the absence of volume support, but a breakout above the 50 and 100 EMA with strong buying pressure could confirm continuation.