In the cryptocurrency landscape, Shiba Inu (SHIB) is once again garnering investor attention with a notable price breakout, signalling a potential rally ahead. Following months of consolidation, SHIB’s bullish sentiment is primarily driven by recent price action and the broader market trend.

Technical indicators, including the 200-day Exponential Moving Average (EMA) and rising on-chain metrics, are showing positive signs.

Traders and investors are closely watching whether SHIB will confirm the breakout by closing a daily candle above $0.000021—a move that could propel its price by as much as 50%.

Shiba Inu’s technical analysis and key price levels

SHIB’s recent price movements reveal an imminent end to its prolonged consolidation phase, having broken free from a descending trendline set since March 2024.

Traders await further confirmation, particularly a daily close above the $0.000021 level.

Should SHIB achieve this, it could initiate a powerful uptrend, targeting the $0.000029 mark.

The breakout has been supported by SHIB’s sustained position above the 200-day EMA, a key metric indicating a general upward trend.

• Resistance at $0.000021: A daily close above this point would validate the breakout, pushing SHIB towards $0.000029, representing an approximate 50% gain.

• 200-day EMA support: SHIB’s position above this technical line reinforces bullish momentum.

The asset’s current price action underscores the market’s positive outlook, aligned with Bitcoin’s ongoing rally, which has lent support to meme coins and altcoins alike.

However, a failure to break $0.000021 may see SHIB face renewed pressure from bears, potentially reversing its trajectory.

Shiba Inu’s promising technical indicators are mirrored by its on-chain metrics, which further validate a bullish sentiment among market participants.

According to data from Coinglass, SHIB’s Long/Short ratio currently stands at 0.97, suggesting traders are predominantly optimistic.

Will Shiba Inu sustain the rally?

At the time of writing, Shiba Inu is trading around $0.0000191, up over 6% in the past 24 hours.

During this same period, its trading volume has soared by 125%, underscoring a marked rise in investor engagement.

High trading volumes often accompany price rallies, as increased demand bolsters upward momentum, which is currently the case for SHIB.

Source: CoinMarketCap

Should SHIB maintain this trajectory and close above the critical $0.000021 level, it is well-positioned to extend its rally toward the next major resistance point at $0.000029.

The next few trading sessions will be crucial, as a sustained bullish performance will confirm whether SHIB is poised for a prolonged rally.

While optimism runs high, it is essential to consider potential risks in SHIB’s journey towards higher price levels.

Market conditions, such as Bitcoin’s price direction, may impact SHIB’s trajectory. If SHIB fails to secure a daily close above the $0.000021 level, it may face renewed selling pressure, potentially pulling its price down.

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European banking giants UBS and Standard Chartered reported robust third-quarter earnings, outperforming market expectations and showcasing strategic growth across wealth management and international markets.

While UBS saw profits soar on the back of its integration of Credit Suisse, Standard Chartered leveraged strong performance in its wealth management division to revise its 2024 income guidance upward.

Together, these results underscore a favorable landscape for major European banks navigating evolving markets and competitive pressures.

Standard Chartered’s pre-tax profit surged 37% year-over-year, reaching $1.81 billion and surpassing analyst estimates of $1.59 billion.

The bank’s net interest income of $2.6 billion also outpaced projections.

Buoyed by its wealth management division’s record-breaking performance, the London-headquartered bank raised its 2024 income growth forecast, now expecting operating income to rise by up to 10% in 2024, up from its previous 7% projection.

CEO Bill Winters noted the bank’s focus on enhancing high-returning divisions, highlighting its investments in affluent client services as part of an ongoing shift to target more profitable segments.

Additionally, Standard Chartered’s net interest margin rose to 1.95%, up from 1.63% the previous year.

Though operating expenses increased by 3% due to inflation and business expansion, efficiency gains from the “Fit For Growth” cost-saving initiative, aimed at cutting $1.5 billion over the next three years, helped offset these costs.

Meanwhile, UBS reported a remarkable net profit of $1.43 billion, more than double the $667.5 million analysts expected.

The Swiss bank’s revenue climbed to $12.33 billion, exceeding projections and marking significant progress in its Credit Suisse integration.

Operating profit before tax came in at $1.93 billion, a sharp reversal from the $184 million loss reported in the same period last year.

The bank’s return on tangible equity rose to 7.3%, up from 5.9% in Q2, while its Common Equity Tier 1 (CET1) capital ratio—a measure of financial stability—stood at 14.3%.

UBS is on track to complete a $1 billion share buyback by year-end, with further repurchases anticipated in 2025.

The Credit Suisse merger has also contributed to UBS’s expense reductions, with the bank projecting $7 billion in savings by year-end from the integration, part of its larger $13 billion target by 2026.

Recent client migrations in Luxembourg and Hong Kong underscore UBS’s progress in this transition, with further migrations in Singapore and Japan scheduled for completion by year-end.

CEO Sergio Ermotti is tasked with steering the combined entity amid global economic challenges, including low inflation and a resilient Swiss franc.

As UBS and Standard Chartered navigate economic uncertainty and intensified competition from US rivals, their Q3 results reflect solid progress in wealth management and strategic positioning across key markets.

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In October, foreign institutional investors (FIIs) pulled out a staggering $12 billion from Indian equities, surpassing the previous record set in March 2020.

Yet, despite these heavy withdrawals, India’s equity indices displayed resilience, thanks to unprecedented investments by domestic institutional investors (DIIs).

These domestic players stepped up in the face of FII outflows, taking local markets by storm.

With their buying momentum, DIIs may have become the largest holders of Indian equities for the first time this century, marking a shift in the ownership balance of Indian assets, a report by The Economic Times said.

The gap between FIIs and DIIs narrows

By the end of September, the gap between FII and DII ownership in NSE-listed companies had shrunk to just 109 basis points, marking a historic low.

Although full ownership data for October through December won’t be available until January, preliminary signs suggest that the trend of rising domestic ownership continued through October.

“There has been a dramatic shift in ownership in Indian capital markets over the past few quarters, with local investors taking the lead and FIIs losing influence,” commented Pranav Haldea, MD of Prime Database Group in the report.

This shift points to an evolving landscape where Indian equities are increasingly supported by local capital, which has gained resilience and scale in recent years.

Record SIPs fuel domestic market power

The growth of Systematic Investment Plans (SIPs) has been a crucial factor in the rise of DIIs.

Monthly SIP inflows surpassed ₹20,000 crore in April and reached a new peak of ₹24,508.73 crore by September, underscoring a growing commitment from Indian retail investors.

Each month saw an increase, with the number of new SIPs registered hitting nearly seven million in September.

The country’s mutual fund industry’s Asset Under Management (AUM) reached Rs 66.70 lakh crore in August.

This steady inflow has provided DIIs with additional resources to counterbalance FII sales, bringing stability to the market.

Prateek Agrawal, MD and CEO, of Motilal Oswal AMC, said,

Over time, domestic money has indeed shifted from other asset classes to stocks as expected amid a rising per capita disposable income.

Empowered role of DIIs in making markets more resilient

Historically, significant FII outflows would send shockwaves through the Indian stock market, often leading to sharp corrections.

However, the dynamics have changed in recent quarters as DIIs have started playing a more substantial role.

“In the past, when FIIs sold, the market would collapse, and LIC and other domestic institutions would step in to prevent further damage. Now, things have changed,” Haldea noted.

In the September quarter, DIIs invested nearly ₹1.03 lakh crore in Indian equities, compared to the ₹55,629 crore bought by FIIs, demonstrating the capacity of domestic funds to anchor market stability.

With DIIs outpacing FIIs in October, the Indian market may be witnessing a long-term shift in ownership.

As domestic capital continues to grow, bolstered by record SIP contributions and investor interest, India’s financial markets are likely to become increasingly resilient against global volatility.

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Haleon (HLN) share price has retreated in the past few weeks, erasing some of the gains made earlier this year. Its London stock dropped to 375p, its lowest point since August 29, while its American ADR fell to $9.90, down by 7% from its highest level this year.

Haleon is a top FMCG company

Haleon is one of the biggest companies in the fast-moving consumer goods (FMCG) industry. It emerged from GlaxoSmithKline, which spun it off into an independent company in 2022.

Since then, other companies have done that. Johnson & Johnson created Kenvue, while 3M created Solventum, which focuses on wound care, oral care, and biopharma filtration. 

Other similar firms like Novartis and Bayer have considered those moves recently, a move that will help them to streamline their operations. 

Haleon is a major player in the FMCG industry, where it sells some of the biggest brands in areas like oral health, vitamins, minerals, and supplements, respiratory, pain relief, and digestive health. 

Some of the top brands in its portfolio are Sensodyne, Parodontax, Centrum, Theraflu, Panadol, and Advil. These are highly popular brands that are sold around the world.

Haleon and other firms in the industry have gone through a difficult time in the past few years. They have faced logistical challenges, high cost of raw materials, and weak consumer spending in most countries because of inflation.

In Haleon’s case, its annual revenue came in at $13.5 billion in 2020 and then dropped to $12.9 billion in 2021. It then bounced back and reached a high of $14.4 billion last year. 

Read more: 3M healthcare spinoff Solventum slides on NYSE debut

Haleon has solid fundamentals

Analysts believe that Haleon has some of the best fundamentals in the FMCG industry. For example, unlike Kimberly-Clark and Clorox, its brands are more defensible because it has a smaller threat from private label brands.

This is notable since more people select private label brands when shopping because they are of a higher quality and often cost much less. 

Additionally, Kenvue trades at a lower valuation metrics than other companies in the industry. It has a price-to-calendar year 2025 price-to-earnings metric of 20x, much lower than other popular brands.

For example, Church & Dwight, Beiersdorf, L’Oreal, Colgate-Palmolive, and Estee Lauder have a multiple of over 25. Similarly, other brands like Procter & Gamble and Clorox are more expensive than Haleon, despite its higher margins.

Haleon has a gross profit margin of 62.5%, higher than Kenvue’s 57.5%, Beiersdorf’s 58%, P&G’s 51%, Unilever’s 42.9%, and Church & Dwight’s 45%. Its EBITDA margin of 23% is also higher than the other companies. 

Additionally, its total returns have been relatively strong since May 2023. It has returned 16%, second only to Colgate-Palmolive, which has returned about 30%. It has beaten most of its peers in this period. 

Read more: Haleon (HLN) share price recovery faces one key hurdle

Haleon earnings ahead

The next important catalyst for the Haleon share price will be its earnings, which will come out on Friday. 

Its most recent half-year results showed that the company had an organic growth of 3.5%, with most of it happening in the second quarter. 

Most of the organic growth happened in oral health, VMS, and digestive health, whose organic revenue rose by 9.9%, and 9.2% and 4.9%, respectively. It was offset by a 4.4% and 2.3% drop in the pain relief and respiratory health segments. Haleon’s business did well because of a combination of higher volume and pricing.

Analysts expect this week’s results to show that Haleon’s revenue rose to £2,83 billion in the third-quarter. They also expect that its full-year revenue will be £11.2 billion, followed by £11.52 billion, and £12 billion in the next two financial years.

Its adjusted EBIT will also rise gradually from £2.5 billion, £2.63 billion, and £2.804 billion in the next three financial years. Therefore, the Haleon share price will do well if the company publishes strong financial results.

Analysts believe that the Haleon stock price is highly undervalued, with a 15% upside. 

Haleon share price analysis

Haleon chart by TradingView

The daily chart shows that the HLN share price peaked at the psychological point at 400p earlier this year. 

It has dropped below the 50-day Exponential Moving Average (EMA) and is inside the Ichimoku cloud indicator.

Haleon’s MACD indicator has pointed downwards and moved below the zero line. The Relative Strength Index (RSI) and the Money Flow Index (MFI) indicators have continued moving downwards. 

Therefore, the short-term outlook for the stock is moderately bearish, with the next point to watch being at 350p. Such a move will be bullish because it is known as a break and retest pattern, which is a bullish continuation pattern.

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Decentralized exchange platform dYdX has announced a 35% reduction in its workforce as it embarks on a strategic overhaul led by returning CEO Antonio Juliano.

Juliano, who resumed leadership on October 10 after a six-month hiatus, cited a need for a leaner, more focused team to steer the company through mounting industry challenges.

This restructuring aligns with Juliano’s vision to revamp dYdX, amid growing competition and recent operational setbacks.

The workforce cut comes as other crypto firms, such as Consensys, are also downsizing, with dYdX aiming to reinvigorate its core mission while maintaining operational resilience.

Can a leaner dYdX stay competitive in DeFi?

To address competitive pressures in the decentralized finance (DeFi) market, dYdX aims to streamline its operations through targeted workforce reductions.

Juliano’s return marks a shift in strategy, focusing on the company’s core strengths and innovative goals.

As DeFi faces regulatory scrutiny and tightening market conditions, a smaller team may allow dYdX to pivot more efficiently and maintain a competitive edge.

Juliano shared on social media platform X (formerly Twitter) that laying off 35% of the workforce was “incredibly difficult and sad” but essential for dYdX’s future.

This decision reflects a broader realignment to match Juliano’s vision for the company’s trajectory, positioning dYdX to achieve long-term growth.

He expressed confidence that the restructured team can propel dYdX forward, with a renewed emphasis on clarity and direction in the DeFi space.

dYdX’s downsizing coincides with layoffs at Consensys, where over 160 employees (about 20% of its workforce) were let go.

Consensys CEO Joseph Lubin attributed the cuts to regulatory pressures, claiming that the US Securities and Exchange Commission’s approach stifles innovation.

These cutbacks across prominent DeFi firms highlight the challenging regulatory and economic landscape, impacting innovation and job stability in the industry.

Juliano’s absence and return

Juliano’s absence earlier in the year marked a period of turbulence for dYdX, which saw both operational and security issues.

In July, dYdX reported the compromise of its v3 website, where an attacker embedded a token-draining program, exposing users to significant risks.

The platform’s stability was also tested by potential acquisition talks for parts of its derivatives software, reportedly engaging with Wintermute Trading and Selini Capital as prospective buyers.

Juliano’s return in October underscores a need for founder-led direction amid these challenges.

Juliano’s decision to return stems from his belief in the founder’s unique commitment to a company’s mission.

In early October, he stated that “the leadership needed must come from the founder,” indicating that his investment in dYdX is essential for the company to navigate its current challenges.

This founder-led approach is poised to bring stability as the company adapts to an evolving DeFi landscape.

With the DeFi sector facing intense competition and increasing regulatory oversight, dYdX’s restructuring aims to provide a sustainable model to secure market stability.

As the company focuses on core operations under Juliano’s leadership, it looks to leverage streamlined operations for future growth.

The crypto market’s volatile nature and regulatory developments will likely test this strategy, making dYdX’s approach a critical case study in adaptive leadership within the DeFi space.

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