Connect with us

Price Prediction

SHIB Continues To Bleed Lower

Published

on

Ethereum Classic Price: Boxed In But For How Long?

The hype surrounding the Shiba Inu Prize has stalled lately. SHIB is down 25% this week. What can SHIB investors expect next?

When it hit the stage last month, Shiba Inu hit the headlines. On the opening day of Binance trading, the DogeCoin knock-off rebounded 251%.

At the high of $ 0.00004900, Shiba Inu’s market cap of $ 13.5 billion valued the token higher than Roll-Royce. This turned out to be the top, however, and the SHIB token has been trending down since then.

SHIB is down 2% for the day to hit $ 0.00000664. In less than a month, $ 10.9 billion of value was wiped away, and owners now have to wonder what the future holds for SHIB.

Shiba Inu developers are releasing a new decentralized exchange (DEX), similar to SushiSwap and PancakeSwap.

This will enable Shiba Inu to trade against various crypto assets. In theory, this should be a positive development, increase trading and provide SHIB with more liquidity.

However, the DEX is still in the testing phase. Although social media updates suggest it is fully functional and awaiting an official release.

Another (theoretically) positive development was Coinbase’s decision to list the token. Shiba Inu price initially rose 20% in the news but has since resumed the decline.

SHIB Technical OutlookIB

The 4 hour chart shows that SHIB was trading in a triangle pattern. The June 3rd high of $ 0.000001040 begins a descending trendline. This is the first resistance level at $ 0.00000694.

The bottom of the triangle is defined by a horizontal line from the May 19th low at $ 0.00000600.

The MACD has become lower. Therefore, the current momentum is bearish, suggesting that price may test the support at $ 0.000006000.

The trading volume was low. However, on Wednesday’s slump, it rose noticeably to $ 0.00000633. This may indicate that buyers may be active and nearing the $ 0.00000600 support.

In summary, if price breaks above trendline resistance, technical buying can occur. In this case, the obvious target would be the June 3rd high at $ 0.000001040.

With that in mind, a return to the $ 0.00000600 support is most likely. If this level is not maintained, the Shiba Inu price could trade much lower.

Shiba Inu Price Chart (4-Hour)

Shiba Inu Prize

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Price Prediction

Ethereum Price Forecast Ahead of Fed Interest Rate Decision

Published

on

Ethereum Price Forecast

Ethereum price paused after the rally on Sunday. The surge was the market’s reaction to Elon Musk’s tweet about Tesla’s likely reintroduction of Bitcoin as a means of payment. Ethereum is the second largest cryptocurrency after Bitcoin, both in terms of daily trading volume and market capitalization. Hence, an increase in the price of the largest digital currency often carries over to its main competitor.

On Sunday, Musk tweeted in response to Cointelegraph’s report, which included a statement from Sygnia’s CEO Magda Wierzycka. According to Wierzycka, the US Securities and Exchange Commission should have investigated Musk’s recent tweets about Bitcoin. In May, Ethereum prices fell after Musk indicated that Tesla would suspend the use of Bitcoin as a means of payment.

Investors are now looking forward to the Fed’s rate decision scheduled for Wednesday. The focus will be on whether the central bank holds its position that inflationary pressures are temporary. A cautious tone will be positive for the Ethereum price.

Technical outlook for ETH / USD

Ethereum price has eased after skyrocketing in the previous session. On Sunday, ETH / USD rose from an intraday low of 2,310.19 to 2,551.89. The price movement corresponded to an increase of over 10%. At the time of writing, the cryptocurrency was down 0.86% to 2,488.62. On a two-hour chart, it trades above the 25- and 50-day exponential moving averages.

I expect the Ethereum price will continue to find resistance at the Sunday high of 2,551.89. Additional buyers entering the market could push prices to the next resistance level at 2,676.01. On the downside, it may give way to find support across the 25-day EMA at 2,427.77 or below at Sunday’s low of 2,310.19.

Ethereum price chart

Continue Reading

Price Prediction

Dogecoin Price Prediction: Price to Remain Range-Bound

Published

on

Dogecoin Price Prediction

The latest Dogecoin price prediction is that the price of the asset will stay in the range for some time. The Doge universe has not been around for a long time, and chief promoter Elon Musk seems to be busy with other business. The days of the 12,000% price hike seem a long way off as the DOGE / USDT pair failed to gain significant traction after the massive crash in May.

Dogecoin price movements were further propelled by Elon Musk’s memes and tweets surrounding the token. Dogecoin desperately needs more injections from Musk. But the question

is: Has the market started to price this factor in favor of more critical fundamentals (which Dogecoin seems to be lacking at the moment)?

The Dogecoin price prediction is for traders of the couple not to take unreasonable risks. Waiting for more action from Musk’s ending could be the endgame for now. With nothing coming from this angle yet, DOGE / USDT could see price trading between the boundaries formed by the support at $ 0.30 and the resistance at $ 0.35.

Technical outlook for Dogecoin

The Dogecoin price prediction from the daily chart of the DOGE / USDT shows the presence of a support level at 0.30. Price has tested this price level several times without falling below it. The day candles are now turning north and targeting the 0.34 resistance level. Breaking this resistance opens the door to the bottom of the resistance zone at 0.39. This resistance zone is the only barrier from the previous resistance at 0.55, seen at the 50% Fibonacci retracement from the April 11th swing low to the May 8th swing high.

On the flip side, the corrective decline will continue if price breaks the 0.30 support with 0.24 and 0.21 additional targets in the south.

Dogecoin; Daily chart

Continue Reading

Price Prediction

A Move Above $2,800 Is Bullish for Ether

Published

on

A Move Above $2,800 Is Bullish for Ether

Ethereum coincided with Bitcoin and was trading below $ 2,000 in late May. Buying the dip with such aggressive weakness isn’t for everyone, but so far the dip holds up. Additionally, the market is making a series of higher lows against horizontal resistance, suggesting that a reversal pattern may be underway.

The $ 2,800 level is crucial to the Ethereum price. Bulls may want to see a breakthrough and close above the $ 2,800 mark as a sign of the completion of the reversal pattern before going long.

The most recent rebound from the lows came after Tesla CEO Elon Musk said the company would accept Bitcoin as payment for car purchases once the mining is done with at least 50% renewable energy. It’s unclear why Musk will make such a statement after cutting Bitcoin’s energy usage a month ago, but voices argue that higher Bitcoin prices would help Tesla’s investments as the end of the quarter approaches.

Make no mistake, Bitcoin bounced back over $ 40,000 and sparked similar moves in Ethereum and other cryptocurrencies.

Ethereum Technical Analysisum

Conservative bulls may want to wait for Ethereum price to close above $ 2,800 before going long with a stop-loss order at the previous higher low and a take profit at $ 4,000.

Ethereum price forecast

Continue Reading

Trending