CryptCraze takes a look at the cost movementment for seven divergent cryptocurrencys, including SHIBA INU (SHIB), that has broken out from its upward parallel channel.

Bitcoin (BTC)

Bitcoin (BTC) is directly exchanging within the $44,300 horizontal resistance range. Since Jan 10, this is the third attempt at breequivalentg out. On Feb 15, Bitcoin (BTC) realized the excessiveest close since the ascending evolutionment began. 

Technical indicators are bullish, since both the RSI and MACD are soaring. Therefore, they both support the continuation of the ascending movementment. 

Cback whileding that a breakout transpires, the next closest resistance would be at $51,100. This is the 0.5 Fib retracement resistance level and a horizontal resistance range.

Bitcoin (BTC) daily chart
Chart By TradingView

Ethereum (ETH)

On Feb 6, Ethereum (ETH) broke out from a descending resistance line that had previously been retained since Dec 1. Afterwards, it returned to confirm it as support on Feb 13 (green icon). The cost has been moving ascendings since. 

The next closest resistance field is at $3,700. This is a horizontal field that previously acted as support.

additionally, it is found between the 0.5 and 0.618 Fib retracement resistance levels while measuring the entire descending progress.

Ethereum (ETH) Resistance
Chart By TradingView

Ripple (XRP)

Ripple (XRP) has been sliding aprotractedside a downward resistance line since April 16, 2021. This descending change at first effected a crack-up below the $0.72 horizontal field in the beginning of Jan 2022.

Yet, the rate has been moving skywards since and recovered the field rapidly sinces. It is now approaching the descending resistance line again.

A breakout atop this line would be inclined to accelecost the cost of increase.

Ripple (XRP) Resistance
Chart By TradingView

Binance Coin (BNB)

Similarly to Ethereum (ETH), Binance Coin (BNB) had been plunging alengthyside a lowering resistance line afterward the beginning of Dec. This descending change led to a low of $336 on Jan 24 (green icon). 

The ensuing hop served to verify the $335 horizontal range as support. Afterwards, Binance Coin (BNB) managed to break out from the tumbling resistance line on Feb 15.

With the condition that the skyward developmentment advances, the next closest resistance range would be at $500.

Binance Coin (BNB) horizontal
Chart By TradingView

Cosmos (ATOM)

On Jan 31, Cosmos (ATOM) realized a low of $31.50. After drooping to this level further, it initiated an ascending move that led to a high of $33.19 on Feb 7. 

Afterwards, Cosmos (ATOM) decreased likewise and realized the $26 level again, doing so on Feb 14. This effectively created a triple bottom figure. Cosmos (ATOM) has been increasing afterward. 

Currently, it is manalogousg its third attempt at bresuchg out from a falling resistance line. 

On the assumption that successful, the next resistance would be at $36.60.

Cosmos (ATOM) Triple bottom
Chart By TradingView


SHIB has been moving ascendings afterward Jan 22, although it captured a low of $0.000017. So far, it has realized a high of $0.000035 doing so on Feb 7. 

Afterwards, SHIB decreased and confirmd the resistance line of the channel as support (green icon). 

As protracted as the cost is exchanging over this channel, the trend continues bullish.

SHIB Channel
Chart By TradingView


NEAR has been moving descendings afterward Feb 7. The descending progressment achieved a disruption from an growing support line on Feb 10. 

Since then, NEAR has initiated a leap. Nonetheless, it was rejected by the growing support line (red icon) on Feb 17. 

Until NEAR recovers it, the trend cannot be studied bullish.

NEAR support
Chart By TradingView

For CryptCraze’s latest Bitcoin (Bitcoin (BTC)) analysis, click here

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