Witha20%riseinprofitability,ShibaInuisemergingasapossiblerecovery,whichmayportendabullishrunfortheasset.Thedataindicatesthat55%ofSHIBholdersarenowprofitable,whichisanincreasefromearlierlevels.ThisincreaseinprofitabilitymaydrawinmoreinvestorswhobelieveSHIBhasfreshgrowthpotential.
Thefactthat73%ofSHIBisheldbylargeholdersfurthersuggeststhatwhalesarestillholdingasizableamountoftheasset.ThebullishcaseforShibaInu\'scouldbestrengthenediftheupwardtrendpersistseventhoughwhaleactivityhasbeenalittlebearishlately.The20%increaseinprofitabilityissignificantbecauseitsignalsachangeinmarketsentimentthattendstobemorepositiveforSHIB.
Thepotentialforalong-termrecoveryishighas79%ofholdershaveownedSHIBformorethanayear.Stabilityisofferedbythisdevotedholderbase,andiftheupwardtrendcontinues,itmightinspiretheseholderstobuymore,raisingthepriceofSHIB.Fromatechnicalperspective,SHIBistradingabovethe50-,100-and200-dayEMAs,indicatingastrengtheningtrend.
Amoresubstantialpricerallymightbetriggeredbyabreakoutofthesymmetricaltrianglepatternthatisdevelopingonthechart.Additionally,agoldencross,along-termbullishsignal,mayformandconfirmanextendedupwardtrend.However,asindicatedbythebearishon-chainsignals,theoverallsentimentremainsmostlybearishduetoadeclineinlargetransactionsandminimalnetworkgrowth.
Ethereum\'spath
Asitformsatroublingchartpattern,Ethereumisatapivotalpointinitshistory.HeadandShoulderspatternsareusuallybearishformationsthatmaysignalanimpendingreversalinanupwardtrend,andthatiswhatlookstobedevelopingonthedailychart.
AsEthereumfailstoovercomesignificantresistancelevels,thispatternbecomesevenmoreconcerningandraisesquestionsabouttheasset\'sshort-termviability.LetusexaminebothbullishandbearishscenarioswhenexaminingpossiblepricetargetsforEthereum.IfEthereumisabletobreakabovethe100EMA,whichiscurrentlyat$2,650,thispricetargetwouldbethefirstmeaningfulmilestone.
AbreakoutofthiskindmightindicatethatETHisgainingmomentumagain,pavingthewayforatestofthenextpsychologicallevelat$2,900.GiventhatitcorrespondswiththesubsequentresistancelevelfromearlyAugust,thispricerangeissignificant.IfEthereumgainssufficienttractionandbreaksabove$2,900,$3,100isthenextpossibletarget.
Thislevelissignificantbecauseitfallsonthelong-term200EMA,whichisdisplayedonthechartastheblackline.
Onthedownside,Ethereum\'spricemaydropbacktoabout$2,400ifitisunabletomaintainaboveitspresentsupportlevels.ThistargetisbearishbecauseitisthelowerboundoftherisingchannelthatEthereumhasbeentradinginoverthelastseveralmonths,whichmakesitsignificant.Ifthepricedropsbelowthismark,itmightbeanindicationofmoreweaknessandpossiblyadeepercorrection.
Solanaisintrouble
Reachingthe$160pricelevel,asignificantresistancezonethatmaydictatetheasset\'snextbigmove,Solanaisabouttofaceacriticaltest.Technicalindicatorspointtoapossiblereversalifbuyersdon\'tstepuptheireffortsasSOLhashistoricallyhadtroublekeepingmomentumgoingpastthispoint.
Theprofilegivesamixedpicturewhenexaminingtheexponentialmovingaverages.Acautiousoutlookinthemarketisindicatedbythe50EMA\'splacementbelowthe100EMA.NotonlyisSolananotfullyinabearishphase,butitisalsonotclearlyinanuptrendasevidencedbythefactthatthe50EMAisstillabovethe200EMA.Withthemarketwaitingforastrongerpushineitherdirection,thissetupsuggestsindecision.Keepinganeyeonthe$160resistanceleveliscrucial.
ApotentialpricereversalmayoccursoonifSOLisunabletobreakandmaintainabovethislevel.Anotherworryingindicationofdecliningbuyinginterestisthevolumethathasbeendecliningoverthelastfewdays.Intheeventofarejectionatthispoint,SOLmightretreatbacktosupportlevelsat$147orevenlower,dependingonthestateoftheoverallmarket.
Conversely,astrongbreakabove$160mightpavethewayforadditionalgains,particularlyifbuyingvolumerises.SOLmayreteststrongerresistancezonesinthisscenario,aimingforthe$180-$200region.
u.today