Shiba Inu (SHIB) appears poised for a long-awaited bullish reversal after breaching the 50-day Exponential Moving Average (EMA)—a significant technical barrier often marking trend shifts. The memecoin climbed nearly 3% on the day, reaching approximately $0.0000127, as trading volume increased alongside market confidence.
The breakout opens the door for a test of the 100 EMA, with sights set on the 200 EMA near the $0.0000166 mark. This movement coincides with broader market momentum, as leading cryptocurrencies regain critical technical levels. With the Relative Strength Index (RSI) currently at 54—comfortably below overbought territory—SHIB has room to run without triggering mass profit-taking.
If SHIB maintains support above the 50 EMA, bullish sentiment could deepen. Key resistance levels lie at $0.0000148 and the psychologically significant $0.000017 threshold. Sustained momentum could draw greater investor interest, potentially ushering in a new growth phase for the token following months of stagnation.
Ethereum Regains Momentum Amid Whale Accumulation
Ethereum (ETH) is showing fresh signs of life after a nearly 4% daily surge, pushing its price to roughly $1,700. The rally comes amid notable on-chain activity, with a prominent whale withdrawing 1,897 ETH—valued at around $3 million—from Bitget in just 10 hours. Since April 3, the same address has accumulated over 3,844 ETH, totaling approximately $6.5 million.
These transactions suggest growing institutional confidence in Ethereum’s long-term potential. ETH is now testing its 50 EMA around $1,884, having broken out of a local symmetrical triangle. A decisive move past this level could pave the way toward the 100 EMA at $2,229, although that remains a distant target.
While Ethereum’s RSI sits at a modest 46, indicating rising momentum, the asset still trails both Bitcoin and SHIB in reclaiming its longer-term moving averages, particularly the 200 EMA. However, recent accumulation patterns may hint at an impending shift in ETH’s relative strength.
Related Topics:
