Akash Girimath and Ali B, two experienced cryptocurrency analysts, announced their new forecasts. Accordingly, analysts expect fireworks for Shiba Inu and 2 altcoins. Experts, who think that the mentioned cryptocurrencies will see great price rises, also shared the price levels to be considered. Here are the key price levels and forecasts for SHIB, Tron and XRP…
“Tron (TRX) may rise 20% due to Justin Sun’s move”
TRON price was in a downtrend predicting a major crash. However, due to recent developments, things started to turn around. The most significant development was the purchase of 60% of Huobi shares by Tron founder Justin Sun. Huobi, as we reported as Kriptokoin.com, is a large Asian-based cryptocurrency exchange. Now, Sun’s move has the potential to trigger a new rise in TRX price. The altcoin price has already seen an increase of over 6%.
Currently, Tron is trading at $0.062, which is 65% lower than the 2021 high of $0.18. Until the entity reached this level, it established four lower, four highest, and four equally high levels. This creates a descending triangle pattern when connected using trendlines. The pattern predicts a 59% drop if TRX breaks below the $0.0581 support level. However, the price is currently rising and attracting buyers around the corner to the coin. Investors can expect a 20% rally if the uptrend continues.
“Ripple (XRP) is ready to turn the situation into an opportunity”
XRP price cut the upper border between $0.331 and $0.464 on September 22 and remained above it. The most recent retest of this barrier took place on October 13. Accordingly, Ripple has since seen an uptick in purchases, which has resulted in a 15% rise. Currently, the altcoin is trading at $0.498. Meanwhile, the Bitcoin price is also witnessing an upward movement. If this trend continues, investors can expect further increase in buying pressure for XRP.
This move will allow the altcoin to retest the $0.561 to $0.596 hurdle, which has been a key level since January 2022. Therefore, turning the hurdle into a support base will be a significant improvement for the XRP price. At this point, traders should expect the XRP price to rise by 52% and sweep equal tops of $0.914. However, there is a possibility of a bullish rejection in the $0.561-$0.596 range. Be careful at these levels.
“Shiba Inu (SHIB) price signals recovery”
The Shiba Inu has witnessed a number of major developments recently. For example, the SHIB community has taken control of the token burning portal ShibBurn from Ryoshi Vision. The team announced that it has taken control of the Shibburn portal and has terminated its relationship with the RYOSHI team. From now on, the portal will run under ShibaSwap. It will also encourage users to burn more tokens. Data from Shibburn reveals that 20 million tokens have been burned in the last 24 hours. A total of 410.38 trillion Shiba Inu have been burned to date.
With these developments, analysts are bullish for SHIB price. Ali B, a crypto analyst, evaluated the Shiba Inu price chart. Accordingly, the Shiba Inu has determined a triple lower level in its price. Ali expects SHIB to gain support at the triple bottom at $0.000001001. According to him, the meme coin will likely experience a massive rise towards the $0.000001060 level if this happens.
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