SHIB/USD bounced to short-term highs on Sunday and early this morning, but its move higher has shown signs of a lower trajectory in the past couple of hours.

SHIB/USD fell to new lows on Saturday. as the onslaught in the broad cryptocurrency market produced widespread panic. As bad as things got early this weekend, SHIB/USD has not fallen through its lower values of late September 2021. While optimists may try to point to this feat of not falling to long term lows like its major counterparts as an accomplishment, Shiba Inu has still sustained substantial losses. The low of nearly 0.00000710 this weekend shows the bearish trend is still forcefully causing problems.

In later trading last night SHIB/USD did climb to a ratio of nearly 0.00000823. However this move upwards has seemingly hit gravity and SHIB/USD has moved lower, and is now hovering below the fractional level of 0.00000800. Speculators of Shiba Inu must understand that SHIB/USD is purely a wager on behavioral sentiment within the broad cryptocurrency market. Clearly after this weekend’s fall to new lows for the likes of Bitcoin and Ethereum, fragile conditions persist.

Yes, a move higher was attained in the past day, but most traders likely remain skeptics and concerned regarding what is going to happen near term. While SHIB/USD certainly reversed off of Saturday’s lows, it did start to test marks seen in late September of 2021 when it was hitting bottom during this weekend’s early selling mayhem. If current support levels continue to prove vulnerable it is completely realistic to imagine SHIB/USD could fall below the 0.00000700 juncture. Timing the market remains an extremely difficult task.

Because of the fractional and fast paced trading within SHIB/USD bettors are urged to use entry price targets to ignite trades. The broad market conditions may prove to be very choppy at best in the coming days. The move higher in the past day can be viewed as a potential ‘dead cat bounce’, meaning that the market has reversed higher and may attract speculators on the buy side only to watch SHIB/USD and other cryptocurrencies to fall in value once again.

Traders who have survived this past weekend’s carnage and can still speculate may want to try and sell SHIB/USD on moves higher. This tactic means that traders should wait for technical resistance levels to prove durable and launch their selling positions from the higher levels. If SHIB/USD struggles to surpass the 0.00000800 juncture in the short term, it could be a sign that another stronger downturn will ensue.

Shiba Inu Coin Short-Term Outlook

Current Resistance: 0.00000823

Current Support: 0.00000753

High Target: 0.00000857

Low Target: 0.00000710

XRP/USD has come off lows seen yesterday when it traded slightly below the 38 cents level, now the 40 cents ratio is within sight as traders guess what will happen next.

XRP/USD is trading slightly above the 39 and half cents mark as of this writing, having achieved a bounce higher since late last night.  Early on Sunday morning, XRP/USD was trading below the 38 cents ratio. The move higher since yesterday may be encouraging for optimistic bullish speculators who continue to look for rays of hope in the cryptocurrency markets.

However, skeptics cannot be blamed for simply believing the movement higher that has been seen will see a return of gravity.  Ripple did in fact climb over 40 cents briefly this morning, which tested highs not seen since the 27^th, but the slight downturn since hitting the short term high has not proven long lasting. The broad cryptocurrency market has shown some resilient movement this morning as the major digital assets have fought off of lows.

The current resistance level of 40 cents may become important in the coming hours. If this level continues to act like a hurdle that is too hard to jump over and maintain value above, it could be considered a sign additional headwinds will start to blow again for XRP/USD. The bearish trend remains in full effect and while hopeful bullish traders cannot be blamed for wanting to see a strong reversal higher that is sustained, betting on this accomplishment could prove to be costly if choppy conditions persist.

Bullish traders who insist on looking for upside may want to use current support levels as a lynchpin to ignite their short term long positions while aiming for 40 cents. The 39 and a half, and perhaps the 39 and a quarter cents ratios could be a place to try and look for slights reversals. However if the 39 cents mark were to suddenly prove vulnerable it will likely mean another test of lower depths are about to be explored again. XRP/USD remains near rock bottom long term prices.

For traders who remain sellers and are looking for downside, short term wagers are encouraged too within the present trading landscape. Stop loss orders are urged and conservative leverage is recommended. If XRP/USD was to break the 39 cents mark below and starts to show price velocity, it is the 38 cents level which would need to be keenly watched. If prices are not able to be sustained above 38 cents in XRP/USD it would be a negative trading signal technically.

Ripple Short-Term Outlook

Current Resistance: 0.40150

Current Support: 0.39295

High Target: 0.40880

Low Target: 0.38140