Dogecoin and Shiba Inu present a weak technical outlook in the absence of Elon Musk tweets or listing news. According to a Twitter analyst known for his accurate price predictions, a meme has managed to break the multi-month resistance line that could reverse the coin trend. Let’s examine the current technical analysis without forgetting that the predictions are not certain.
This meme coin broke the multi-month resistance line, here are the next ones
As you can see in this article, it is a widely followed trend that accurately predicts the Bitcoin (BTC) bottom in the second half of 2018. The analyst details bullish prospects for the two altcoins. The crypto analyst nicknamed Smart Contracter says in his recent analysis that he bought Dogecoin (DOGE) after a slight correction and increase in buying volume: Dogecoin is on an upward trajectory after breaking a downward trendline on the daily timeframe, according to Smart Contracter’s chart.
The analyst is also optimistic about the cross chain protocol Synapse (SYN), which enables assets to be transferred and exchanged between Ethereum (ETH) and other smart contract-enabled Blockchains. Contracter says that Synapse, when paired with Ethereum, could yield more than 100% after gaining over 50% in seven days:
SYN is now +50% in a week and hasn’t even exploded yet. This could easily turn into a polybag.
Elliott Wave wave theory is in an uptrend on SYN chart
According to Smart Contracter, Synapse is in an uptrend after passing a three-wave retracement based on Elliott Wave theory. Elliott Wave Theory states that the major trend adopts a five-wave pattern while a correction takes a three-wave pattern.
In June 2018, Bitcoin was trading above $5,700, while Smart Contracter correctly predicted that the leading cryptocurrency would bottom at around $3,200, give or take $200. Six months later, Bitcoin hit a low where it has yet to surpass $3,156. The analyst, who updated his FTM and SOL forecasts in his recent analysis, stated that similar breakdowns to Dogecoin took place.
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