What will happen in ApeCoin (APE), Shiba Inu (SHIB) and Dogecoin (DOGE), which are among the most popular coins of recent times, is a subject of great curiosity by investors. Many analysts are citing their expectations for these altcoins. So what will happen next week? What are the expected levels? Here are the details…
Analysts: SHIB price shows signs of rising
As we reported on Kriptokoin.com, last week, analysts stated that Shiba Inu bulls will probably rally 15 percent to $0.00002861. A few days ago, the bulls successfully confirmed the bullish trade setup as the Shiba Inu price rallied to the target level and made a fresh high at $0.00002957. Shiba Inu price managed to break the 100-day moving average during the rally before falling below it during yesterday’s sell-off, according to FXStreet analysts. It is worth noting that choppy price action around prominent moving averages is common. Therefore, the bulls were able to maintain their strength.
SHIB price is forming a bullish confluence on the 6-hour chart. First, the daily trend channel is broken, with the current price of $0.002630 above the average line of the parallel channel and the relative strength index showing a bottom at 40. Due to these bullish signals, analysts are warning those who want to short the SHIB. Analysts think that $0.000200 or $0.00001950 can be seen if $0.0000228 is not broken.
Analyst: ApeCoin must break this resistance level
ApeCoin price traded mostly sideways throughout the Saturday session, staying between $13.80 and $12.40. The bears failed to exploit this weakness while the bulls declined. Now, a new long opportunity presents itself for ApeCoin bulls. “The hypothetical long position for the ApeCoin price is a $13.20 buy stop, a $12.60 stop loss order and a profit target of $15.20,” says
Morgan. However, he argues that this equation will fail if the current situation drops to $12.20 before triggering a long position. From the perspective of Ichimoku, an analytics tool, ApeCoin price is inside the 4-hour Ichimoku Cloud. According to the analyst, this cloud represents indecision, volatility and countless other negative trading behaviors. In summary, the analyst thinks that a clear exit cannot be made without breaking $14 above or below $12.6 above this cloud.
Analyst: DOGE can outperform SHIB
Analyst Jonathan Morgan also shared his analysis of Dogecoin (DOGE). According to the analyst, “Dogecoin price is approaching a key bullish breakout level that could trigger a massive rally this weekend. If confirmed, it will be the strongest bullish signal in almost a year.” Again, from the perspective of Ichimoku, he reports that the ideal price action for DOGE is very close to confirming a breakout.
The analyst sets a buy stop order of $0.17, a stop loss of $0.13 and a profit target of $0.29 for the long position. According to Morgan, if the $0.17 entry is triggered, a break above the double top will be confirmed. There will also be a bear trap model. The analyst argues that significant selling pressure should be expected against the critical psychological price level of $0.25 before buyers move towards the profit target seen at $0.29.
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