As a seasoned researcher with over two decades of experience in the financial markets, I find myself intrigued by these recent developments in the cryptocurrency world. The Elliott Wave pattern emerging in Shiba Inu (SHIB) seems reminiscent of certain trends we’ve seen in traditional equities, albeit on a wilder scale. However, as with any prediction, it remains to be seen if this theory holds true for the meme-inspired token.
Here are the top three news stories over the past day presented to you by U.Today.
Shiba Inu (SHIB) shows perfect Elliott Wave pattern
It seems that Shiba Inu is exhibiting a typical Elliott Wave pattern, indicating a systematic approach for its upcoming price actions. According to the Elliott Wave Theory, during major trends, markets often display a five-step pattern where two waves go against the primary trend (waves 2 and 4), while three waves follow the primary trend direction (waves 1, 3, and 5). Currently, SHIB appears to be in the second corrective wave after an initial surge, hinting at a promising upward trend in the subsequent third wave. For SHIB to sustain this expected growth, it’s crucial that it holds above the support level of $0.000020. This would fortify the structure for the anticipated third wave expansion, possibly pushing the price towards resistance levels ranging from $0.000035 to $0.000040. It is important to note that while the Elliott Wave Theory has been effectively utilized across various markets, the future path of SHIB remains uncertain as it depends on numerous factors such as investor sentiment, market news, and trading volume.
Top crypto trader issues very controversial XRP price outlook
In a recent X post, popular crypto trader “DonAlt” shared his perspective on XRP, as the asset experienced a notable price increase of 14% this week and 47% over the past week, marking its highest value since July 2023. While it may seem to be an encouraging sign for XRP, DonAlt believes that the situation is more complicated than it appears. The trader pointed out that XRP and other long-established cryptos may struggle to keep the interest of investors, suggesting that many former investors might prefer exploring newer, trendier options rather than returning to old-timers like XRP. Nevertheless, DonAlt remains optimistic about a potential price spike for XRP, expressing a “gut feeling” about a strong upward move. However, he doubts that the asset will be able to capture and maintain the attention of newer retail investors.
Coinbase lists PEPE meme coin
Yesterday, Pepe Coin (PEPE) was added to Coinbase, a prominent U.S. cryptocurrency exchange, as announced by Coinbase CLO Paul Grewal. In a statement, Grewal said, “You’ve waited a long time for the frog; now you’re going to get it.” This announcement came alongside news of PEPE’s listing on Robinhood, another major U.S. brokerage platform, showcasing the competitive nature of digital asset listings. As a result, the value of PEPE soared by an astounding 47.8% within an hour, reaching over $0.000019 and surpassing an $8 billion market capitalization. The impact of Coinbase’s listing on PEPE’s future price is uncertain, but it is anticipated to boost the cryptocurrency’s visibility and attract more investor interest. At the time of writing, each PEPE was being traded for $0.00002182, marking a 14.23% increase over the past day according to CoinMarketCap.
Read More
- EUR ARS PREDICTION
- ULTIMA PREDICTION. ULTIMA cryptocurrency
- XRP PREDICTION. XRP cryptocurrency
- FIS PREDICTION. FIS cryptocurrency
- EUR CAD PREDICTION
- POWR PREDICTION. POWR cryptocurrency
- CHR PREDICTION. CHR cryptocurrency
- YNE PREDICTION. YNE cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
2024-11-14 18:40