The recent political shifts in the United States contributed to a launch of a massive bullish trend in the cryptocurrency market.
Ethereum (ETH)
Ethereum (ETH) has shown impressive gains recently. Over the past week, its price surged by 29.32%. In the last month, it increased by 30.24%, and over six months, it rose by 10.23%. These upward movements highlight strong performance in the short term.
The current price of Ethereum ranges between $2612 and $3505. It’s approaching the nearest resistance level at $3824. If it breaks through this point, the next target could be the second resistance at $4717. On the downside, support levels are at $2038 and $1145, which could act as safety nets if the price drops.
Technical indicators offer more insights. The 10-day simple moving average is $3180.37, slightly above the 100-day average of $3009.32. This suggests a positive trend. The Relative Strength Index is at 52.12, indicating a neutral position. The MACD level is 16.98, which is positive. These factors combined suggest that Ethereum is in a phase where significant movements could occur.
Solana (SOL)
Solana (SOL) has experienced significant price movements recently, marking it as one of the more dynamic cryptocurrencies in the market. In the past week alone, SOL’s price has shifted by an impressive 27.89%, highlighting a surge in investor interest. Over the past month, the cryptocurrency has risen by 42.72%, and looking back six months, it boasts a 46.23% increase. These figures underscore a strong upward trend and sustained growth over time.
Currently, SOL is trading within a range of $171.73 to $231.97. The nearest resistance level sits at $253.76, a critical threshold that, if surpassed, could signal continued bullish momentum. On the flip side, the nearest support level is at $133.28, which may serve as a safety net against potential downturns. Technical indicators further illustrate SOL’s position in the market: the 10-day Simple Moving Average (SMA) is at $209.03, slightly above the 100-day SMA of $200.00, suggesting a positive short-term trend.
Momentum indicators offer additional insights. The Relative Strength Index (RSI) stands at 50.61, indicating that SOL is neither overbought nor oversold at the moment. The Stochastic oscillator is at 64.87, which aligns with the RSI’s neutral stance. Additionally, the Moving Average Convergence Divergence (MACD) level of 1.681 points to modest bullish momentum. As SOL hovers near key resistance and support levels, market watchers are keen to see how these factors will influence its trajectory in the coming days.
Shiba Inu (SHIB)
SHIB has seen substantial growth recently. Over the past week, its price surged by 54.44%. In the last month, it’s up 47.71%. Even over six months, SHIB increased by 13.50%. This upward trend shows strong momentum for the coin.
The current price of SHIB ranges between $0.00001894 and $0.00003064. The 10-day simple moving average is $0.00002611, higher than the 100-day average of $0.00002065. This suggests a positive short-term trend. The Relative Strength Index stands at 58.32, indicating a bullish trend but not yet overbought. The MACD level is positive at 0.000001221, pointing to continued upward movement.
Based on these indicators, SHIB’s price may continue to rise. The nearest resistance level is at $0.00003521. If the price breaks through this level, it could reach the second resistance at $0.00004691, representing a potential gain of around 50% from the current range. However, if the price falls, the nearest support level is at $0.00001181. Traders should watch these levels closely to gauge SHIB’s next move.
Dogecoin (DOGE)
DOGE has seen significant movement recently. Over the past week, its price jumped by 93.32%. In the last month, it surged by 164.23%. Looking at the past six months, it grew by 100.47%. This sharp upward trend shows strong interest in the cryptocurrency.
Currently, DOGE trades between $0.18 and $0.33. The nearest resistance level is $0.39, while the nearest support level is $0.0904. Its 10-day simple moving average is $0.28, and the 100-day average is $0.21. The Relative Strength Index stands at 73.84, suggesting the coin is approaching overbought territory. The Stochastic indicator is at 84.83, and the MACD level is 0.0176, indicating bullish momentum.
Based on these indicators, Dogecoin may continue to rise. If it breaks the resistance at $0.39, it could target the second resistance level at $0.5425, which would be a significant gain from current prices. However, if the price dips, it might find support at $0.0904. Traders are watching to see if DOGE can maintain its momentum and reach new highs soon.
Conclusion
ETH, SOL, SHIB, and DOGE are promising
