Crypto Comeback: Bitcoin Aims for $120K as XRP and Shiba Inu Signal Market Momentum

Crypto Comeback: Bitcoin Aims for $120K as XRP and Shiba Inu Signal Market Momentum
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Recent market movements suggest a potential shift in the cryptocurrency landscape, with key digital assets demonstrating resilience and hinting at a broader recovery. As investors keenly observe, Bitcoin, XRP, and Shiba Inu are exhibiting distinct patterns that could define the market’s trajectory in the coming weeks.

XRP’s Resilient Rally Above $3

XRP, the digital asset associated with Ripple, has recently achieved a significant milestone by surpassing the $3,00 threshold. This move is more than just a psychological victory; it signals a robust recovery after a dip from its local high of approximately $3,70. The asset found strong support around the 26-period Exponential Moving Average (EMA), breaking through crucial resistance levels with notable speed.

The consistent closing above the $3,00 mark and the formation of a higher low underscore a validated medium-term bullish structure. This resurgence is particularly noteworthy given the current market stagnation, positioning XRP as one of the few altcoins showing proactive momentum. The increased volume during its recovery period suggests that buyers are strategically entering the market. With the Relative Strength Index (RSI) steadily climbing without indicating overbought conditions, XRP appears to have ample room for continued growth.

Looking ahead, if this bullish momentum persists, XRP could target $3,30 and potentially retest its $3,70 high. Beyond these levels, a breakout could set the stage for a new phase in its bull cycle. The key to sustaining this rally lies in maintaining prices above the $2,90–$3,00 range, supported by consistent volume.

Shiba Inu’s Search for Volume and a Breakout

Shiba Inu (SHIB), the popular meme coin, is navigating a cautious path, hinting at a forthcoming price surge. Despite a recent rebound from its local bottom near $0,00001160, SHIB faces a critical hurdle at the 50-period EMA, currently positioned around $0,00001320. Historically, interactions with this EMA have been pivotal for SHIB’s price action. A decisive break above this level could herald the start of a more extensive upward trend.

Currently, SHIB is trading just beneath a significant resistance level at $0,00001264, a price point that has previously seen considerable contention. The primary concern for SHIB’s immediate future is the subdued trading volume. This lack of significant market participation could impede any substantial breakout, as a rejection from the 50-period EMA remains a real possibility without increased buying interest.

Nevertheless, the RSI for SHIB is rebounding from oversold territory and still has room to advance, sitting near the 48 mark. This suggests that if positive market sentiment or renewed inflows materialize, SHIB is poised for movement. Combining its current higher low and early signs of reversal, SHIB is structurally prepared for a potential breakout. A sustained move above $0,00001320, backed by strong volume, could propel the asset towards $0,00001435 and beyond. However, until significant buyer interest emerges, it remains a “watch and wait” scenario.

Bitcoin’s Strategic Path Towards $120,000

Bitcoin (BTC) has demonstrated a strong recovery from the 50-day EMA level, currently around $112,300, signaling the potential commencement of its next major ascent towards the $120,000 mark. This rebound is not merely symbolic; it occurred at a crucial technical juncture that has historically served as a springboard for healthy upward trends. Maintaining this support level validates the continued bullish momentum for the flagship cryptocurrency.

The RSI for Bitcoin has also recovered from the midline, suggesting a renewed interest from buyers without the market becoming overheated. This sets the stage for two primary scenarios.

The first, and most straightforward, is a seamless return to $120,000. If the current bullish trend persists and Bitcoin holds its position above the 50-day EMA, the previous local high of approximately $120,000 will serve as the next resistance point. A clear breakout beyond this level could potentially pave the way for new all-time highs, particularly if broader market sentiment remains favorable. This ideal scenario would involve a steady climb bolstered by increasing trading volume, indicating sustained interest.

The second scenario involves a period of short-term consolidation. Bitcoin might trade within the range of $112,000 to $120,000 as it gathers strength. A range-bound structure would allow altcoins to gain ground while Bitcoin gradually advances. A longer period of consolidation in this area would be beneficial, establishing a stronger foundation for a more robust breakout later in the quarter.

While traders should remain vigilant for potential false breakouts due to current low volume, Bitcoin’s ability to remain above crucial moving averages is a strong indicator of underlying strength. Unless macroeconomic conditions deteriorate or volume completely dissipates, Bitcoin appears poised for another legitimate push towards $120,000, possibly sooner than anticipated.

Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Investors should always conduct their own thorough research and consult with a qualified financial advisor before making any investment decisions in cryptocurrencies, which are highly volatile and speculative assets.

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