Dogelon Soars Over 7% While Shiba Inu Gains but Technicals Inidcate Loss on Charts
Memecoins have seen the light as major cryptocurrencies have shown recovery on its chart. The meme coin could target a 12% hike in the subsequent trading sessions with a consistent rise in buying strength. ELON was priced at $0.0000015 with overhead resistance at $0.0000017.
The trading volume of ELON has decreased, which means that the price volatility of the coin would remain low. Shiba Inu was trading within a descending trendline in the past few days, and however, due to broader market strength, the coin broke out of the descending channel.
Dogelon/ELON/USDT Four Hour Chart
Dogelon has appreciated considerably in the past week. The coin provided substantial ROI in the same time frame. At press time, the coin registered 7.8% growth after it had dipped shortly in the past two days. Overhead resistance stood at $0.0000017 while support lines rested at $0.0000013 and $0.0000012, respectively.
Currently, the $0.0000009 level has acted as strong support for the coin. The technical outlook showed bullish price action as a result of the recent recovery experienced by the ELON.
The Relative Strength Index also noted an uptick which meant that buying strength returned in the market. ELON had witnessed a massive buying strength for most of the month, but the coin also had met with a sell-off in the past few days.
MACD was still negative but was approaching a bullish crossover. The coin’s prices were above the 20-SMA line signaling an increase in buying strength.
SHIB/USD Four Hour Chart
Shiba Inu’s price action has been quite volatile, and the coin was priced at $0.000035. Immediate resistance for Shib was at $0.000037, and the support level stood at $0.000033. The next support level was at $0.000029.
Price volatility was decreasing as the Bollinger Bands were constricted, indicating that price fluctuations would remain low over the upcoming trading sessions.
The Relative Strength Index was negative as the buyers were still low in number. However, selling pressure still existed in the market. With prices going up, the RSI would move above the half-line providing a more robust bullish force to the meme-coin.
Chaikin Money Flow was also below the half-line, but the capital inflows had increased over the last 24 hours.
- Trump Picks SEC Crypto Counsel Michael Selig to Lead CFTC Amid Crypto Oversight Push
- First Spot XRP ETF Hits Milestone as CME Flags Institutional Interest
- Can Hype Price Hit $50 After Robinhood Listing?
- XRP News: Ripple Unveils ‘Ripple Prime’ After Closing $1.25B Hidden Road Deal
- Traders Price In Two More Fed Rate Cuts This Year After Soft Inflation Data
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
- PUMP Price Prediction as Whales Accumulate 4.2B Tokens- Is 135% Rally Next?
- Dogecoin Price Crash Looms as Flag, Death Cross, Falling DOGE ETF Inflows Coincide
- Solana Price Prediction as Osprey’s S-1 Filing and Hong Kong’s ETF Launch Fuel Reversal Hopes- Is $250 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
