As a seasoned crypto investor with over a decade of experience navigating the rollercoaster ride that is this market, I must say, the upcoming technical indicators are making me feel a bit like a weathered sailor staring at an ominous storm on the horizon. The death cross looming over Bitcoin and the stagnation of Dogecoin and Shiba Inu are reminding me of the old saying, “Just when you think it’s safe to go back in the water…
Based on Bitcoin’s technical analysis, when the 50-day Exponential Moving Average (EMA) drops below the 200-day EMA, it could potentially signal a “death cross.” This significant crossover might happen soon, as the gap between these two moving averages appears to be narrowing on the current chart.
The “death cross” pattern often signals a downward trend in the market, potentially leading to a substantial decrease in price. Prolonged periods of falling prices have typically occurred after death crosses in the past. While it’s not always reliable, many experts and traders view it as a sign that the market may be entering a prolonged bearish phase. Currently, the value of Bitcoin is hovering around $58,000.
If the “death cross” is verified, Bitcoin‘s value could fall significantly, potentially dipping below $55,000 and even into the $40,000 range. However, it’s important to keep in mind that Bitcoin’s price has shown relative stability in the past, so there’s always a chance things will turn around. To counteract this pessimistic forecast, Bitcoin bulls must regain control of the market and push prices strongly above the current resistance level of $62,000. Sustained growth beyond this point could indicate a shift in direction and potentially spark a rally towards $65,000 or higher.
Dogecoin moving forward
With each leap over the $0.1 mark and the shedding of another zero from its cost, Dogecoin is stirring up excitement in the financial world again. While this progress for the joke currency is significant, caution remains essential.
Dogecoin (DOGE) remains below its 50-day Exponential Moving Average (EMA), suggesting that a consistent rise isn’t yet evident, despite the recent surge in price. The 50-day EMA seems to be acting as a robust barrier for DOGE, often serving as a key signal of short-term trend direction. It appears unlikely that there will be a major breakout soon given the current pace, with prices hovering around $0.1, unless there is a substantial boost in buying activity or an influential market event takes place.
To continue its bullish trend, Dogecoin (DOGE) needs to surpass its current 50-day Exponential Moving Average (EMA), currently at $0.11. If this mark is breached, DOGE might move towards the 100-day EMA at approximately $0.12 and potentially strive to reach the 200-day EMA near $0.13.
Reviving optimism and propelling DOGE forward for a stronger comeback seems likely if we consistently surpass these price points. However, if the price fails to gain momentum, it might fall back towards support at around $0.09, where DOGE could temporarily stabilize before making another effort to break through higher again.
Shiba Inu‘s volatility nonexistent
As a crypto investor, I find myself pondering if Shiba Inu, the meme coin, still holds potential for growth after experiencing prolonged low volatility. Over the past few months, the price of SHIB has failed to break through notable resistance levels and remains relatively flat. This coin, once characterized by high speculation and volatility, seems to have lost its drive, as suggested by recent trading activity. At this point, it appears to be trapped in a bearish trend.
At present, SHIB‘s trading value hovers around $0.00001333, which is noticeably lower than its 50-day Exponential Moving Average (EMA), suggesting ongoing negative short-term momentum. Furthermore, both the 100-day and 200-day moving averages are notably higher than the current price, suggesting that the asset has been struggling to increase in value. The token appears to be in a sluggish state, at least temporarily, as the minimal price movement and low trading volume imply that the hype driving SHIB may have subsided for now.
There’s still a possibility that SHIB could regain momentum and potentially surge in value if it manages to surpass its 50-day Exponential Moving Average (EMA), currently sitting at around $0.000014. This significant bullish move might attract more investors if it also overcomes the 100-day EMA at approximately $0.000016, suggesting a strong uptrend.
There’s a possibility that Shib could see its price climb back up near $0.00002 or more, but it’s at a critical juncture right now. To break free from its current downtrend, Shiba Inu needs a significant boost or increased trading activity. At the moment, many investors view it as a dormant asset with limited prospects for an immediate rebound. However, should there be any signs of activity, pay attention to potential movements above those key Exponential Moving Averages (EMAs).
Read More
- EUR RUB PREDICTION
- USD PHP PREDICTION
- BAN PREDICTION. BAN cryptocurrency
- POWR PREDICTION. POWR cryptocurrency
- FIL PREDICTION. FIL cryptocurrency
- VIB PREDICTION. VIB cryptocurrency
- EUR IDR PREDICTION
- ICP PREDICTION. ICP cryptocurrency
- POL PREDICTION. POL cryptocurrency
- NAKA PREDICTION. NAKA cryptocurrency
2024-09-18 03:25