Shiba Inu Shows Signs of Price Surge Despite Declining Hype; Bitcoin and Ethereum Exhibit Expected Corrections
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Shiba Inu (SHIB) is displaying an ascending triangle pattern which could signal a significant price surge in the future. This comes amid declining interest in legacy meme coins like SHIB.
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Ethereum (ETH) is currently exhibiting a correction after a robust rally, which is a healthy part of any asset's price trajectory. This could shake out weak hands and set the stage for a stronger rally ahead.
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Bitcoin (BTC) clawed its way back above the 50-day EMA, a critical indicator of medium-term market sentiment, after briefly breaching below it. This signals Bitcoin is not yet ready to give up market dominance.
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However, Bitcoin's growth above the 50 EMA has been moderate, hinting it might face selling pressure as it climbs higher, which is common in crypto markets.
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Bitcoin's ability to recover back above the 50 EMA serves as a reminder of its underlying strength and the confidence investors have in it as the anchor of the crypto market.