SHIB, DOGE, MANA and AXS have not been able to make strong price movements since the November peak, apart from a few big news impacts. In order to determine the next technical levels, we have compiled the comments of 3 expert crypto money analysts in Kriptokoin.com readers.
SHIB, DOGE, MANA and AXS analyzes
Axie Infinity (AXS) retested the $48.60 support level and has not found enough buyers for now. According to analyst Akash Girimath, investors can expect AXS to rise 20% before reaching the demand zone between $58.22 and $69.22. This new trend could push the Axie Infinity price up by 20% from $58.22 to $69.22 to retest the supply zone. While the lower limit is where the uptrend is most likely to be closed, there is a high probability that AXS will break above it. Regardless of the current outlook, a break of the $48.03 support could dampen the optimism and a daily candle below $44.27 could end in the bears’ favor, invalidating the bullish argument. In this scenario, Axie Infinity could see its price drop 15% before retesting the weekly support level at $37.66.
On the Shiba Inu (SHIB) side, the meme token has been consolidating for about eleven days, which indicates that the waves are moderate. Even after 10 days of consolidation, SHIB shows no signs of a breakout. However, once it is bullish, investors can expect SHIB to make a 23% run at $0.0000254, also known as the critical 200 SMA resistance. While this is highly unlikely, a possible retest of $0.0000283 will bring the total gains from 23% to 36% in the weekly timeframe. On the downside, critical support levels are between $0.0000158 and $0.0000193. If the daily candle closes below $0.0000158, it will make us think that the bullish thesis is invalid. According to the analyst, it can be seen that the bulls are defending the $0.0000135 support again.
Let’s look at the Jonathan Morgan analysis for Decentraland (MANA). MANA price action has rallied about 70% from its January 22 low. A breach in MANA price of $2.50 could mean a strong impulse to retest the 50% Fibonacci retracement in the $2.00 area. If it stays above this support, MANA price is likely to rise to test the bottom of the Ichimoku Cloud (Senkou Span A) at $3.20.
Finally, Dogecoin has formed a descending parallel channel on the 12-hour chart as it remains locked in a downtrend. According to analyst Sarah Tran, if the selling pressure continues to increase and result in a 10% drop, a drop could come to set the lower bound of the current pattern at $0.124. However, if a surge in demand occurs, Dogecoin price could face critical resistance at $0.411, which immobilizes it. A break above these resistances will raise Dogecoin at $0.153, followed by $0.162, which coincides with the middle border of the technical formation. At higher levels, Dogecoin bulls will target $0.171 and $0.184.
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