Cryptocurrencies Price Prediction: Shiba Inu, Bitcoin & SafeMoon – American Wrap 07 June
Shiba Inu price at risk of falling 50% as SHIB faces multiple obstacles ahead
Shiba Inu price is stuck in consolidation after weeks of continuous declining trading volume. SHIB could see a decline of over 50%, marking a lower low if it fails to break a critical resistance level. A significant reduction in social volume for the meme adds credence to the bearish outlook. Shiba Inu price has slipped into consolidation after its hype subsided in mid-May. Now, SHIB has been stuck in a range of lower highs and slightly higher lows as indecision mounts.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC to become legal tender while crypto markets contemplate downswing
Bitcoin price could head lower since it is approaching a confluence of resistance levels. Ethereum price is also considering a downside move as it climbs toward the swing high at $2,910. Ripple price seems to have begun its downtrend after tapping the supply zone’s lower limit at $0.986. Bitcoin price rally that started on May 30 hit a dead end by June 3, which led to a steady downswing. Investors can expect a leg lower as its most recent attempt to head higher will face a stiff resistance barrier.
Three potential bearish catalysts for SafeMoon this week
SafeMoon price evolution since May 25 has tested the patience of bullish speculators. The rookie token has not commanded sustainable buying pressure; instead, it is locked in a relentless descending channel, offering brief, swing trade opportunities. Until SAFEMOON can release from the channel, there is a return of trust in the broader cryptocurrency complex and a reignition of FOMO in new cryptocurrencies; it will carry a bearish tilt.
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FXStreet Team
FXStreet
