$XRP moves between two fires, which might cause a volatility spike in either direction
continues as all kinds of assets are reportedly testing local resistances and making attempts to break them or gain a solid foothold above them. However, some signs lead us to believe that the majority of investors are betting on a reversal in the foreseeable future.
However, the asset might break the resistance and potentially attract more funding, which should push the asset upward thanks to traders that usually gain exposure to assets that are technically strong.According to on-chain data on the Ethereum network, the selling tendency prevails among whales and regular holders, who held Ether for the last three years, which might be considered an indicator of solid selling pressure that might become the catalyst for a bearish reversal.
Despite the successful performance at the beginning of the month, the continuation of the rally is not guaranteed as, in addition to the bearish on-chain data, we are seeing a gradually descending trading volume — one of the most common and accurate signals of a descending rally.SHIB's performance on the market suggests that the token is not yet reversing and dropping attempts at a breakout.
At press time, Shiba Inu is trading at $0.000012 and would need to gain a foothold above the $0.000013 price level in order to complete the breakout. With upward movement in the foreseeable future, the possibility of a bearish reversal rises exponentially as indicators across the market suggest that we will see a correction this week.
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