Shiba Inu is stuck in support loop, eyes breakout levels
SHIB is on verge of historic breakout, if this pattern validates.
- Key support. SHIB trades near $0.00001238, holding close to its long-tested support at $0.00001159.
Shiba Inu coin SHIB has been moving in a loop for the past few weeks, staying in the same support area that’s marked turning points more than once over the last year. The token is trading near $0.00001238, almost stuck at the $0.00001159 level that’s been a support point a few times, from last September to midsummer.
- Bullish pattern. Chart shows rounded consolidations, where price clusters tightly before breaking out.
The chart shows a pattern of rounded consolidations, where the price settles into tight clusters before making a move. In previous cycles, these bases were followed by stretches of upside, first toward $0.00001698 and later pushing as far as the $0.00002052 resistance.
Each time, though, the move lost steam before SHIB’s price could challenge higher zones such as $0.00002501 or the longer-term cap near $0.00002970.
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Analysts split on XRP ETF prospects
XRP’s demise might start with the launch of spot ETFs.
- Bearish take. Feria predicts spot ETFs will be the “beginning of the end” for XRP.
Crypto analyst and industry observer Adriano Feria has predicted that spot exchange-traded funds will mark “the beginning of the end” for the Ripple-linked XRP token. Feria is convinced that the launch of such products will reveal that there is no actual institutional demand for XRP.
Bullish take. Steven McClurg sees potential $5B inflows in the first month.
Some analysts are optimistic about the future performance of the yet-to-be-approved XRP ETFs based on the success of CME Group’s regulated futures that track the price of the Ripple-linked token.
Canary Capital CEO Steven McClurg predicted that XRP ETFs could potentially attract $5 billion worth of inflows during the first month. He argues that XRP is the second most well-known cryptocurrency in Wall Street circles (behind only Bitcoin).
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Consensys CEO: Ethereum will 100x, flip Bitcoin
Joseph Lubin is convinced that Ethereum (ETH) will end up flipping Bitcoin.
- 100x rise. Lubin claims Ethereum will eventually overtake Bitcoin’s monetary base.
Consensys CEO Joseph Lubin has predicted that the price of Ethereum (ETH) will increase by 100 times from where it is trading. Lubin added that even that uber-bullish prediction is apparently not bullish enough. On top of that, he is convinced that Ethereum (ETH) will end up flipping the Bitcoin (BTC) monetary base.
Ethereum’s momentum has been revived by Lubin taking a page out of the playbook of Strategy co-founder Michael Saylor by becoming the chairman of SharpLink Gaming, a gaming affiliate marketing firm that has pivoted to being an Ethereum treasury company with the help of Consensys and Lubin.
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