Shiba Inu sets itself up for unexpected, yet powerful, breakthrough
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However, while there is visible optimism on the chart, it is crucial not to overlook some underlying factors. One of the most conspicuous elements is the descending trading volume. A price chart depicting a cryptocurrency battling key resistance, like the 21-day EMA, ideally should be accompanied by rising trading volumes.
However, not all hope is lost for the Ethereum enthusiasts. The coin is currently hovering around the $1,600 mark, which has historically acted as a significant support and resistance zone. If Ethereum can close above this level and maintain its stance, it could be an early indicator of a trend reversal. A sustained move above this threshold could catalyze further buying interest, potentially propelling ETH to higher levels.
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