By Franklin Smith
Briefly –
- Shiba Inu maintains its upsurges even after Elon Musk confirmed that he doesn’t own SHIB.
- Ethereum recoils around its support at $3,900 as bullish investors plan a $4,400 attack.
The crypto market still retains a bullish picture though the somewhat ups and downs. The altcoin market appears to gain ground after BTC’s upsurge to new ATH near $67,000. Last week ETH surged past $4,000 and almost hit $4,200. Solana rose beyond $200 as Shiba Inu rallied over the week to explore levels past $0.00004 at this publication.
Shiba Inu
Shiba Inu price actions seem not bothered by the recent Eon Musk confession. The Tesla CEO stated that he doesn’t own a SHIB token. However, Elon Musk confirmed that he holds Dogecoin, Ethereum, and Bitcoin.
Though the disappointing updates by Tesla billionaire, SHIB rose past $0.00004 and almost touched $0.000045. The meme coin had its trading volume at $15 billion, while its market cap, stays at $20 billion. SHIB now stands at the 11 rank by value, following USDC currency.
While writing this content, the Dogecoin competitor hovers around the $0.000041 mark. That way, the coin has its support near $0.000035, confirming bulls’ momentum. If the meme coin rise beyond $0.000045, it may catalyze the next leg up to $0.0001.
Ethereum
Ethereum rallied to close its gap towards the ATH located at $4,400 over the previous week but retreated below $4,000. Meanwhile, the area at $3,900 remained vital, containing ETH from further declines and started recovery. The four-hour price chart shows the 50 SMA plus the ascending trend-line bolstered this buyer congestion territory.
Meanwhile, ETH trades at the $4,130 mark as bulls plan to flip its record peak into support. Market players should expect MACD’s buy gesture that will tighten bulls’ dominance in the crypto space during the same time.
Keep in mind that the Relative Strength Index (RSI) appears to favor bullishness as it hovers in the midline, moving towards the overbought region. That indicates that buyers are turning aggressive, planning an upswing past $4,400, then $5,000.
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