Ethereum (ETH) Price Surge Halted for Now: Here's When It Might Start Again © Reuters Ethereum (ETH) Price Surge Halted for Now: Here’s When It Might Start Again

U.Today – recent rally has paused, with the ETH price steadying after a substantial surge. This halt prompts investors to ask: When will ‘s price rally resume? Analyzing the chart and recent headlines gives us insights into possible future scenarios.

The Ethereum chart indicates a recent pullback after a sharp rise in price, with the market taking a breather. This consolidation phase is healthy, as it allows the market to establish new support levels. price is still well above its 50-day and 100-day moving averages, suggesting the overall trend remains bullish. The relative strength index (RSI) has retreated from overbought levels, which could provide room for another price increase.

Bullish scenarioIf Ethereum maintains its support level and avoids falling below the moving averages, the price may gear up for another rally. This could be fueled by increased adoption and positive sentiment in the market. Watch for a narrowing of Bollinger Bands, followed by a breakout above the upper band, which could signal the start of another bullish phase.

Source: Bearish scenarioConversely, a break below the moving averages could signal a bearish reversal. Increased selling pressure and negative market sentiment could push the price down. A bearish crossover on the MACD could confirm this, suggesting it might be time to brace for a potential downtrend.

Recent data indicates that burn rate has reached steady growth, outpacing emissions six months following the Merge upgrade, contributing to its deflationary aspect​​. Despite this, Ethereum’s daily burn rate hit a seven-month low on March 12, showing a more than 89% drop since the record highs​​. Such a dynamic in the burn rate could influence the supply and demand economics, potentially affecting the price.

Investors should watch for a continuation of the net burn trend, which could lead to decreased supply and higher prices if demand remains steady or increases​​.

joins party

The meme coin frenzy continues as Shiba Inu (SHIB) grabs the spotlight with its recent price actions, stirring up discussions about whether it can breach the $0.00001 threshold this week. Amid massive transfers by Binance, a technical deep dive is essential to evaluate SHIB’s potential.

Analyzing the price chart, we observe a significant uptick in its value, with the token challenging previous resistance levels. The moving average convergence divergence (MACD) shows a positive trend, with the blue MACD line well above the signal line, indicating strong bullish momentum. The relative strength index (RSI), although not in the overbought territory, is trending upward toward the 70 mark, which could signify increasing buying pressure.

A crucial factor to note is the breach of the 50-day and 100-day moving averages, which SHIB has surpassed, suggesting a robust uptrend. The volume bars align with the price increase, further confirming the bullish stance among traders. Additionally, the Bollinger Bands are expanding, which typically denotes increased market volatility and a potential for large price movements.

The psychological mark of $0.00001 is within sight for Shiba Inu. For a sustained move above this level, SHIB would need to maintain its current momentum and see a continued influx of buying volume. If the price can close above this level on the daily chart, it may confirm the bullish breakout, potentially leading to further gains.

Recent SHIB transfers by Binance have added to the speculative fire. Such large-scale movements can be indicative of institutional interest or significant traders taking positions, which in turn can lead to dramatic price movements.

The current technical setup for is promising, with the potential to reach and exceed the $0.00001 mark. However, investors should remain cautious, as meme coins can be highly volatile and sensitive to market sentiment. Keeping an eye on the aforementioned technical indicators and the news around large transfers will be key in determining whether SHIB can maintain its upward trajectory.

This article was originally published on U.Today


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