Shiba Inu (SHIB) Bears Got Destroyed, Bitcoin (BTC) Price Squeeze is Next, This is XRP's Chance
Main Idea
The article discusses recent market movements in Shiba Inu (SHIB) and Bitcoin (BTC), highlighting a bear trap in SHIB and potential volatility in BTC, along with other crypto-related news.
Key Points
1. Shiba Inu (SHIB) experienced a bear trap where it broke below support but quickly recovered, closing above the 50-day EMA, indicating renewed confidence.
2. Key resistance levels for SHIB are now at $0.00001339 and $0.00001350, with support around $0.000012 and $0.00001256.
3. Bitcoin (BTC) is poised for volatility, with potential upside if it breaks above the $119,000-$120,000 resistance zone, but risks if it falls below $116,200 or $111,200.
4. XRP shows signs of recovery, with the 26-day EMA acting as dynamic support, but faces resistance at $3.70 and risks if it fails to hold above the 26 EMA.
5. Other notable mentions include a large Shiba Inu (SHIB) whale transaction, Ethereum's future goals, and updates on the Ripple v. SEC lawsuit.
Description
Market full of traps for both bears and bulls at this point in time
Latest News
- Ripple CTO Addresses Kraken Founder’s Alleged XRP Hate2025-08-01 22:18:17
- Fidelity: Fed Could Boost Bitcoin by Restarting 'QE Engines'2025-08-01 20:56:38
- Schiff: Bitcoin Reserve Would Be 'Ultimate' Taxpayer Boondoggle2025-08-01 18:57:56
- XRP Gets Zero Mentions in White House, $58.7 Million Shiba Inu Locked, Ripple Hiring Executive: Crypto News Digest2025-08-01 17:34:01
- $246 Million in XRP Moved at Once, What's Happening?2025-08-01 16:50:43