New estimates continue to emerge for ApeCoin (APE), Shiba Inu (SHIB) and Dogecoin (DOGE), which are among the most popular cryptocurrencies of recent times. The latest estimates came from analyst Jonathan Morgan. Morgan conveyed what to expect in these cryptocurrencies. Here are the details…
Shiba Inu (SHIB) could make another explosive rally
Analyst says an event in Shiba Inu price that has not been triggered since October 2021 is about to trigger: the Ideal Taurus Ichimoku Breakout. When this bullish Ichimoku long entry appears, instruments often see long and sustained uptrends, something SHIB hasn’t seen in five months. Shiba Inu price action on the daily chart must close at or above $0.000027 to confirm the ideal bullish Ichimoku Breakout.
Despite selling pressure at $0.000030 and above, the bulls maintained a stable value area around $0.00025 to $0.000027. A big short squeeze could likely start very soon, according to the analyst. A hypothetical long entry set last week was triggered at $0.000028 and continues to rise. According to the analyst, there is a theoretical short setup for SHIB that remains valid. In addition, stating that the profit target is $ 0.00040, Morgan states that if SHIB2 moves to $ 0.000030 on the chart, the profit scenario will be invalid.
What tiers are next for ApeCoin (APE)?
Analysts also shared their comments on ApeCoin (APE), the most popular coin of recent times. According to the analyst, ApeCoin price is showing bearish signals on the 9-hour chart. Traders may consider short selling the digital asset if market conditions continue. As we reported on Kriptokoin.com, the price of ApeCoin has increased by 2,700 percent since its initial launch on March 17. Such gains have brought enormous FOMO to the token, which has made investors question whether a more serious correction will occur.
ApeCoin price now shows evidence that bulls may be losing strength. First, the NFT-inspired crypto is back in the weekly demand zone at $13.42. Second, ApeCoin price is exhibiting a “double top” formation at the maximum resistance level on the Relative Strength Index. If market conditions continue, traders will likely try to short the token once the demand zone is completely broken. The analyst thinks that APE should break at $14.5, the next bullish candle breaking above $14.5 will see $15.50 and $16.
Will Dogecoin price reach $0.25?
Dogecoin price continues to rise and rise despite some selling pressure seen late yesterday and in today’s session. DOGE is up nearly 30 percent from its opening on March 14, 2022, and will generate more earnings going forward, according to the analyst. According to Morgan, Dogecoin price currently has one more important technical level than any other on its chart: the 2022 Volume Control Point. Sellers may be looking for an opportunity to resell DOGE; however, the supports at $0.14 will only continue to strengthen.
DOGE will face a resistance once it reaches $0.16. However, the momentum in the Ichimoku Cloud is likely to be enough to push DOGE to $0.25. Looking at the downside risks, $0.1325 is highlighted as the current support level.
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