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đŸ’„ BeinCrypto Analytics: $SHIB Price Prediction Shiba Inu’s price attempts to break down a symmetrical triangle pattern. This is a technical analysis formation characterized by converging trendlines, indicating a period of consolidation before a potential breakout. Given that candlesticks are close to breaching the breakout point, the meme coin has the potential of a rally. Based on the pattern, the target is $0.00004148, marking a 45% rise. However, realistically, Shiba Inu’s price rise will likely halt at $0.00003599, which marks a crucial resistance. But if the cryptocurrency falls through the lower trend line before rallying or fails to breach the $0.00003000 barrier, it would invalidate the bullish thesis, falling to the $0.00002268 support level. #SHIBđŸ”„đŸ”„

đŸ’„ BeinCrypto Analytics: $SHIB Price Prediction

Shiba Inu’s price attempts to break down a symmetrical triangle pattern. This is a technical analysis formation characterized by converging trendlines, indicating a period of consolidation before a potential breakout.

Given that candlesticks are close to breaching the breakout point, the meme coin has the potential of a rally. Based on the pattern, the target is $0.00004148, marking a 45% rise. However, realistically, Shiba Inu’s price rise will likely halt at $0.00003599, which marks a crucial resistance.

But if the cryptocurrency falls through the lower trend line before rallying or fails to breach the $0.00003000 barrier, it would invalidate the bullish thesis, falling to the $0.00002268 support level.

#SHIBđŸ”„đŸ”„

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👀 According to Coingape: $SHIB Price Jumps As of writing, the Shiba Inu token’s price noted an uptick of 1.89% in the past 24 hours and is currently trading at $0.00002336. This price upswing rides on the back of the abovementioned burn rate upswing, whereas weekly charts illustrate that SHIB is experiencing a consolidation, moving sideways. It’s worth noting that bulls or bears may take control over the token at any time in the market, although the abovementioned burn primarily stages as a bullish factor for Shiba Inu. Coinglass data highlights a 2.21% surge in SHIB’s open interest, reaching $59.96 million, whereas derivatives volume plunged 1.62% to $113.24 million. This could further be driving Shiba Inu’s recent turbulent price action. Nonetheless, as VanEck’s meme coin index recently hit 195%, including SHIB in its data, the token has offered a glimpse of its potential to provide investors with notable gains. Additionally, the recent ecosystem developments brought by the Shiba Inu crypto community have further fueled immense bullishness on the token’s long-term prospects.
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đŸ’„ According to AMBCrypto: $BONK Price Prediction The two-month range was highlighted in purple and extended from $0.0000136 to $0.0000286. The price witnessed two rejections from the range highs in the past two weeks, but has not yet sunk below the mid-range support. The RSI on the daily chart was at 51.7 to indicate momentum favored neither the buyers nor the sellers. Similarly, the CMF was also at -0.05. This level is a threshold, and a lower reading will indicate significant capital outflow and selling pressure. The lower timeframe price action showed that the $0.0000209 level was support and that another short-term range was formed in the upper half of the larger range. Hence, scalp traders could look to buy a retest of this support with a tight stop-loss. While the BONK price prediction indicated a short-term bounce from $0.0000209 was likely, it might not initiate a strong uptrend. The Open Interest has been trending downward over the past three weeks to show speculators were sidelined. They were unwilling to go long on the asset, but were not actively shorting the token either. This was inferred from the funding rate, which was just above zero. The liquidations suggested that each sharp drop in the past week was accompanied by a gaggle of long liquidations, which pushed prices lower.
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đŸ”„ According to NewsBTC: $XRP Price Stable Above $0.50 Recently, XRP price extended losses and traded below the $0.5250 support, like Bitcoin and Ethereum. There was a move toward the $0.5080 support. A low was formed at $0.5087 and the price is now consolidating losses. There was a minor increase above the $0.5120 resistance. Besides, there was a break above a connecting bearish trend line with resistance at $0.5150 on the hourly chart of the XRP/USD pair. However, the pair is still trading below $0.5250 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5250 level. It is near the 23.6% Fib retracement level of the downward move from the $0.5699 swing high to the $0.5087 low. The first key resistance is near $0.530 and the 100-hourly Simple Moving Average. A close above the $0.530 resistance zone could spark a strong increase. The next key resistance is near $0.5465. If the bulls remain in action above the $0.5465 resistance level, there could be a rally toward the $0.580 resistance. Any more gains might send the price toward the $0.600 resistance. If XRP fails to clear the $0.530 resistance zone, it could start another decline. Initial support on the downside is near the $0.5150 level. The next major support is at $0.5080. If there is a downside break and a close below the $0.5080 level, the price might accelerate lower. In the stated case, the price could retest the $0.4840 support zone.
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🚀 According to U.Today: $BTC on Verge of Losing $60,000 Bitcoin is currently on the brink of dropping below the $60,000 level, a significant psychological and technical level for the cryptocurrency. As observed on the chart, a descending trendline is clearly applying downward pressure, guiding Bitcoin into forming lower lows. This pattern suggests that the downward momentum might continue in the near term. The current market dynamics show Bitcoin's price being squeezed by this descending trendline. Every attempt to push upwards meets resistance, leading to lower highs — a classic indicator of a continuing downtrend. Notably, the volume of trades has been decreasing, which typically indicates a weakening of the current trend and potentially sets the stage for a trend reversal. However, the current signals suggest that the market is not yet ready to reverse to being bullish. Adding to the complexity of the movements is the potential formation of a higher low, which could be the first sign of an impending shift in trend. This is a critical observation as it could signify that although the overarching trend is bearish, there is some buying interest at lower levels that prevents further drops, providing a temporary floor for Bitcoin's price. The immediate future of Bitcoin's price largely depends on its interaction with the trendline and key moving averages. Currently, the 50-day Exponential Moving Average (EMA) sits around $65,000, acting as potential upper resistance in case of any bullish reversal.
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