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Cryptocurrencies Price Prediction: Shiba Inu, Sandbox & Cardano — Asian Wrap 16 Dec

Cryptocurrencies Price Prediction: Shiba Inu, Sandbox & Cardano — Asian Wrap 16 Dec
FXStreet TeamFXStreet TeamFXStreet

Shiba Inu presents 3 to 1 buy opportunity before SHIBA breaks out

Shiba Inu price has been consolidating for the past ten days, establishing a support zone near the 88.6% Fibonacci retracement at $0.00003200. SHIBA is likely coiling for a giant price spike – the direction of the spike being higher if the broader market can catch a bid.

Sandbox remains under pressure as SAND moves to the $3 price range

Sandbox price and the broader metaverse and gaming token sector remain overbought. More room south is likely, and if the broader market faces a bullish recovery, that may even accelerate the selling of SAND. Lower prices are expected, but a slight bounce may occur in the interim.

Cardano could more than double if ADA holds support

Cardano price continues to trade lower but has trade opportunities on both sides of the market. A breakdown below the current support level may only yield a short-term price collapse before a massive rally begins. Cardano price has a possible long entry on its weekly chart. 

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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