Three reasons why Shiba Inu price will quickly drop 45%
Shiba Inu price has trended lower in a descending parallel channel since the May crash, offering only brief opportunities from low probability patterns or setups. The weak performance is a marked deviation from the extreme price events in early May when SHIB climbed almost 2,000% from May 7 to May 10. Thus, an unfriendly chart outlook mixed with a deteriorating fundamental situation and a bearish trend in an on-chain metric raises the probabilities of a sharp break to the downside from the tightening price range.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC and altcoins correct before another run-up
Bitcoin price retested the range high during its recent exponential upswing and the altcoins followed suit. However, this uptrend is running out of steam and is retracing as investors continue to book profits. Ethereum and Ripple will also likely correct to stable support levels before the markets establish a direction.
VeChain Price Forecast: VET postures for a 40% gain as energy builds
VeChain price has built on the rebound from the 50-week SMA, registering a 15.21% gain last week and closing July with a minor decline of -1.64%. The persistence of the Anchored VWAP has been containing a rally continuation since the July 26 high and preventing VET from triggering a double bottom pattern. Until the altcoin actives the double bottom pattern, the outlook is neutral with the outside potential for a mild pullback.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Luna Classic: 10% drop then a market reversal
Terra's Luna Classic price has been trading range bound for over a week. The consolidating range has produced higher highs and higher lows following each change of trend. A breach of $0.0001690 would invalidate the bearish triangle thesis.
Shiba Inu price shows long-term investors are still buying, is a market bottom near?
Shiba Inu price has investors honing in as the monthly settle may provide context for SHIB's future price action. The bears are clearly in control of the trend, but there are subtle signs of bullishness that should be investigated.
Will Coinbase halting support for Ripple from its wallet result in a 16% crash in XRP price?
Coinbase’s decision to halt the support came from the lack of demand, which is a step up for the crypto market. This is because every negative development in the last few weeks in space has been caused by FTX’s collapse.
Top 3 Price Prediction: The monthly settle defines the next move
Bitcoin price currently auctions at $16,419 as the bulls and bears are sparring over the mid $16,000 level on smaller time frames. During the last weekend of November, the BTC price witnessed a 3% decline.
Bitcoin: Assessing chances of one last bear market rally for 2022
BTC is in a good place to trigger another bear market rally from a high-time frame perspective. This development, combined with the optimistic outlook seen in on-chain metrics, further strengthens the possibility of a happy ending to 2022.