Despite a recent drop in cryptocurrencies, Shiba Inu coin the meme-based cryptocurrency that has been dubbed a “Dogecoin killer” has not vanished. However, there are still certain roadblocks in the way of Shib Inu.

Many people believe that the SHIB coin’s rise is solely due to the community. However, there are other circumstances that may assist the cryptocurrency in gaining traction.

Shiba Inu will be getting a new dedicated exchange in the near future. ShibaSwap, a new decentralized cryptocurrency exchange (DEX) similar to UniSwap or PancakeSwap, will be more of coin exchange. The platform has apparently been operational for several weeks, but it is still undergoing testing to assure total security and transparency.

As of the present conditions, Shiba Inu price has dropped below a critical support level of $0.000007 and is headed for new lows of $0.00000630. If Shiba Inu breaks through the $0.00000630 support level, it will go to the $0.00000440 support level.

To acquire upside momentum in the near term, Shiba Inu needs to climb back above $0.000007. If Shiba Inu is able to break through this resistance, it will go on to the next level of resistance at $0.000008.

$1 For Shiba Inu Price?

Although the future for Shiba inu appears bleak, many experts and analysts have weighed in with their predictions. Market Realist outlined a strategy for Shib coin to hit the $1 level, which has long been a dream of Dogecoin enthusiasts. To reach $1, Shib coin would have to increase by 12,000,000%.

Every month since January, the coin has increased by around 2,000,000 percent. According to Market Realist, it might approach $1 by the end of 2021 if it continues to expand at this rate. Shiba’s price is expected to hit $0.000030 by June 2021 and could rise to $0.000048 by the end of the year, according to Wallet Investor.

As of the present conditions, Shiba Inu price has dropped below a critical support level of $0.000007 and is headed for new lows of $0.00000630. If Shiba Inu breaks through the $0.00000630 support level, it will go to the $0.00000440 support level.

Source: https://coinpedia.org/price-analysis/shiba-inu-price-plunge-hard/

In the times when the Bitcoin price rally went into a passive mode and the Ethereum price rally intensified, many believed ETH may flip BTC someday. Moreover, the difference between the market caps was diminishing at a greater pace. This fueled the speculations of the asset spiking above $5000 soon.

However, the black Wednesday of May trembled the markets which were destabilized by a massive margin. ETH price was trading above $4000 and within no time slumped below $2000. Since then the price was in search of a bigger boost to recover the losses which are still missing at the press time.

Also Read: Bitcoin Price & Ethereum Price Initiates A Bearish Weekly Trade, What’s Next?

On the other hand, the price with the current day trend sets the field for a massive breakout. The price is on the verge of forming a ‘Cup and Handle’ pattern and hence expected to visit some lower levels. Nevertheless, later a notable breakout may follow the slump to escort the price.

A popular analyst, Shelby predicts the most bullish predictions and sees the price rallying above $6000 in the coming weeks.

Currently, the ETH bulls should come into action and uplift the price above the upper resistance levels around $2936. And in the meantime, a spike in the trading volume will also follow which will confirm the upside trajectory.

On the contrary, currently, the ethereum price manifests some signs of capitulation as the exchange inflows have seen a spike. However, this might be short-lived as the ETH price is poised to regain the lost positions and propel above $5000.

Also Read: Here’s When Cardano Price (ADA) & Ethereum (ETH) will Skyrocket!

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Source: https://coinpedia.org/price-analysis/extreme-bullish-case-emerges-for-ethereum-eth-price/

ADA Price Might Go Up the Curve

In the last week, the Cardano price had been trending in the cryptocurrency market, putting all feats to hit back the $2 mark. The price trend had been highly oscillating, plunging to as deep as $1.4 and hitting $1.87 in the coming hours. For the past few days, the price was fluctuating and struck at $1.88 but fell hopelessly. Currently some hulls have accumulated the line, and the price will possibly approach $2 once again today.

At the time of typing, the ADA price is at $1.533. In the early hours the price fell from $1.62 to $1.55. With a bullish candle in hand, the price was expected to surge, but it only fell deeper near $1.474. Currently it has surged from this point. If this proceeds, the price may hit $1.80 or above in the coming hours. However, if it fails to rally further, it might start dipping from there failing to touch a new ATH.

Technical Specifications

• The resistance value is $ 1.688
• The support value is $ 1.663
• The indicators point out a sell signal.

THETA Price Advances With a Bullish Trend

The price movements for this token has been between $8 and $10. Trying to deviate from this channel, the price surged to $10.45 but fell back to $9.174 in the last couple of days. Currently, the price is soaring and set off towards a shift from this channel bypassing the $10 mark.

At the time of writing, the THETA price gradually lifted its head to $8.931. In the early hours it resumed yesterday’s bearish trend and was dipping rapidly. This happened in two phases, where it first fell to $8.595 and then to $8.369, with the aggravating selling pressure. Now, the movement flipped being bullish and might touch $10, if the bulls rally further. However, failing to do so, the price may dip from this point and sail back at $8.50.

Technical Specifications

• The resistance value is $ 9.470
• The support value is $ 9.075
• The indicators point out a buy signal.

SAFEMOON Taking a Curve Away from the Moon

For the last couple of days, the SAFEMOON price is dripping slowly. Earlier today, the price survived the bearish storm and striked at $0.00000390 from $0.00000367. However, the momentum ceased and the price plunged deeper in segments, from there. Currently, SAFEMOON is still entangled in a downtrend and is moving downwards.

At the time of typing, the SAFEMOON price is $0.000003596. For the past hours, it has been highly fluctuating between $0.00000345 and $0.00000375. At present the price is positioned downwards and may plunge further to $0.00000354. Following which the price may begin to oscillate within the range again.

Technical Specifications

• The resistance value is $ 0.00000366
• The support value is $ 0.00000352
• The indicators point out a sell signal.

Also read: Safemoon price prediction, How high will the price hit by 2021?

The price movements for this token has been between $8 and $10. Trying to deviate from this channel, the price surged to $10.45 but fell back to $9.174 in the last couple of days. Currently, the price is soaring and set off towards a shift from this channel bypassing the $10 mark.

Source: https://coinpedia.org/price-analysis/ada-price-theta-and-safemoon-trends/