U.Today – The 50-day EMA crossing below the 200-day EMA is signaling a possible death cross, according to technical indicators. The current chart indicates that the gap between the two moving averages has been closing, and this crucial crossover may occur in the coming days.
This death cross frequently denotes a bearish trend and can lead to a significant price drop. Historically, death crosses have been followed by long periods of downward movement. Although not entirely reliable, many analysts and traders see it as an indication that the market is about to enter a longer bearish phase. Right now, the price of Bitcoin is close to $58,000.
Bitcoin’s value could fall further, perhaps below $55,000 or even into the low-$50,000 range if the death cross is confirmed. It is crucial to remember that Bitcoin’s price has historically been quite stable, so things could still turn positive. To counter this bearish outlook, bulls would need to regain control of the market and stage a strong breakout above the $62,000 resistance level. A persistent advance above this level could signal a change in direction and possibly trigger a rally towards $65,000 or higher.
Moving forward
Dogecoin has successfully crossed the $0.1 threshold and removed another zero from its price, creating a buzz in the market once again. While this is a good step for the meme coin, caution is advised.
DOGE is still below its 50-day EMA, indicating that a sustained recovery is not yet evident despite the recent bullish momentum. DOGE has found strong resistance at the 50-day EMA, which is frequently used as a crucial indicator of short-term trend direction. We are unlikely to see a significant breakout in the near future at this rate, with prices hovering around $0.1, unless there is a significant increase in buying volume or a notable market catalyst.
The 50-day EMA, which is currently located at $0.11, must be overcome for DOGE to firmly establish its bullish momentum. If this level is overcome, DOGE can move towards the 100-day EMA, which is located at $0.12. It may even try to reach the 200-day EMA, which is located at approximately $0.13.
A persistent push above these levels is likely to rekindle hope and put DOGE back on track for a more significant recovery. If the price fails to gain speed, it could pull back to the support levels at $0.09, where DOGE could consolidate before attempting to rally higher again.
Volatility is non-existent
Many are wondering if the Shiba Inu meme coin has much more life left after a prolonged period of low volatility. SHIB price has not moved above significant resistance levels in recent months, remaining stable. The coin, which was once highly speculative and volatile, appears to have lost momentum, given its current trading activity, and appears to be stuck in a downtrend.
SHIB’s current price is around $0.00001333, which is significantly below its 50-day EMA and indicates that short-term momentum remains negative. Its 100-day and 200-day moving averages are also significantly higher than the current price, adding credence to the idea that the asset is struggling to move higher. The token appears to be in a lifeless state, at least temporarily, as price action and low volume imply that SHIB’s days of being carried away by the hype may be over.
Still, there is some hope left. SHIB has the potential to reignite interest and push the price higher if it manages to break above the 50-day EMA, which currently sits at $0.000014. The token would signal a major bullish reversal and could attract more buyers if it breaks above the 100-day EMA at $0.000016.
This could push the price back up to $0.00002 or higher. SHIB is currently at a crucial stage. For the meme coin to escape its current slump, it needs a powerful catalyst or increased trading volume. Investors may continue to view it as a dead asset with little chance of recovery in the short term until then. If there is any sign of life, look out for a move above those important EMAs.
This article was originally published on U.Today
