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The crypto market is heating up, with BNB eyeing a breakout at $653.5 and potentially reaching $700
Binance Coin (BNB) price is heating up as it approaches a critical point of no return. The crypto is nearing a descending resistance line, a setup that usually leads to big price shifts.
Currently, BNB is testing the upper levels of a descending wedge formation, and it’s also getting close to the 0.236 Fibonacci retracement from the March 2024 low to the December 2024 high.
At the time of writing, BNB is trading at $609, testing the wedge resistance one last time. A breakout above this level, especially a candle close above the 0.236 Fib level at $653.5, could trigger a strong bullish move.
If this breakout happens, we can expect to see BNB aiming for the next resistance at around $700, which is the 0.382 Fib. A successful push past $700 could open the door for a continuation toward the 0.5 Fib at $792.
The Relative Strength Index (RSI) on the daily chart is showing increasing momentum as it approaches the 50s, indicating that buyers are getting more involved. However, the RSI isn’t yet getting into overbought territory, which leaves room for more price appreciation.
Shiba Inu (SHIB) recently broke through two major descending trendlines that have been holding its price back since 2024. This breakout has analysts excited, with one analyst predicting a potential 124% surge from current levels by May 2025.
SHIB is currently trading at $0.00001373 and would need to rally significantly to reach the analyst’s price target of $0.00003 by May 2025.
Shiba Inu Breaks Two Trendlines
The Shiba Inu price has encountered a series of obstacles in its recovery journey this year. Despite a promising start, the crypto faced setbacks due to a significant token sell-off by hackers and a lack of bullish momentum.
However, SHIB has shown surprising resilience, and its price has been steadily climbing again. In a recent analysis, an analyst highlighted two critical resistances that could propel SHIB to new highs.
The first resistance level to watch is between $0.0000142 and $0.0000145, where the 2024 high and a round-top candle are located. A breakout above this zone could be a decisive factor in confirming the bullish trend.
If the bulls manage to clear this hurdle, the next resistance to anticipate is at $0.000016, which coincides with the 38.2% Fibonacci retracement from the March 2024 low to the December 2024 high.
Shiba Inu Could Surge 124%
According to the analyst, a breakout above the critical resistance at $0.0000142-$0.0000145 could launch a strong rally in SHIB, aiming for a new price target of $0.00003 by May 2025.
This prediction is based on an analysis of a potential bullish impulse wave that could unfold if the current breakout leads to a sustained uptrend.
The analyst suggests that the final wave of this impulse structure could be a large one, considering the size of the first three waves and the fib levels that align with the price ranges.
Moreover, the analyst notes that the SHIB ecosystem is becoming more active, with the daily burn rate recently surging by over 1,500%. This is reducing the circulating supply of SHIB tokens, which could further help to increase the token price.
Unstaked Is Changing the Game
Unstaked isn’t just talking possibilities, it’s actively building tools that Web3 teams can plug in right now. At its core, Unstaked is developing the first-ever decentralised AI operations layer for Web3.
It’s giving communities, DAOs, and apps the ability to deploy smart agents to automate key tasks like onboarding new members, moderating chats, scheduling events, and handling outreach, all with zero manual input.
These agents aren’t just programs, they’re trained to learn and adapt with every interaction, becoming more efficient and valuable over time. And how are these agents rewarded for their tireless work? Through real-world actions tracked by Unstaked’s unique Proof of Intelligence (POI) system.
What makes Unstaked stand out in the crowded AI space is its focus on execution. While many projects are still stuck in the realm of vague “AI-as-a-service” concepts, Unstaked’s agents are already integrated with major platforms like Telegram and X, and they’re ready to hit the ground running once launched.
Unstaked
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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