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ETH, HBAR, and SHIB Price Outlook: Bulls or Traps?
The cryptocurrency market is bracing for a turbulent week as Ethereum (ETH), Hedera Hashgraph (HBAR), and Shiba Inu (SHIB) face crucial tests. As we dive into the price outlook for these assets, it becomes clear that the path ahead will be fraught with risks.
Ethereum’s (ETH) historical February gains have sparked speculation about a potential upside, fueled by rising on-chain activity. However, concerns persist regarding ETF outflows, which could hinder the asset’s momentum. ETH/USD 1-day price chart. Source: TradingView
HBAR is attempting to recover ahead of its mainnet upgrade, forming a falling wedge pattern that has historically led to breakouts and significant rallies. A breakout above resistance could trigger a 50% rally, with Fibonacci retracement levels indicating $0.40 and $0.49 as potential targets. HBAR/USD 1-day price chart. Source: TradingView
On the other hand, Shiba Inu’s (SHIB) whale activity has plummeted by 61%, accompanied by a decline in large transactions. This sudden shift raises concerns about investor confidence and could lead to further selling pressure. Despite this, SHIB’s open interest remains strong, suggesting some investors still expect a price surge.
SHIB/USD 1-day price chart. Source: TradingView
The question on everyone’s mind is whether these assets will continue their recent trajectories or trap traders in the process. As we weigh the pros and cons of each scenario, it becomes clear that caution must be exercised when navigating the volatile landscape ahead.
What do you think?
Source: coinchapter.com
