After the March 5, 2024 end of the upward trend, the price of Shiba Inu is now in a horizontal direction.
Altcoin recovered from the previous downturn. The uptrend stopped after it reached the high of $0.00004552. Due to a strong rejection of the recent high, the altcoin dropped abruptly to $0.00002500. Altcoin's current value is $0.00002407. SHIB is trading within a small range between $0.00002100 and $0.00003500, since March 5, 2024. Altcoin's price has been largely stable over the last month.
The price action was dominated mainly by doji candles, which held the price flat. Altcoins are now consolidating over their lower price range.
The moving average lines have remained horizontal due to the sideways trend. Price bars are lower than moving average lines but selling pressure has eased. A long candlestick tail on April 13, 2024 indicates a significant demand for lower prices.
Key Resistance Levels: $0.00001200 $0.00001300 $0.00001400
Key support levels: $0.00000600, $0.00000550, $0.00000450
SHIB's trading range has remained the same over the last month. If buyers maintain the price above moving average lines, and the $0.00003500 level of resistance, the uptrend will begin. Altcoins are currently in a downward trend and have reached their lowest price range. The price has moved minimally.
Disclaimer. This analysis and forecast is the personal opinion of the author. It does not constitute a recommendation for the purchase or sale of cryptocurrency, and should not therefore be considered as a endorsement by CryptoGuestPosts. Before investing in funds, readers should conduct their own research.
On April 13, 2024, the price of Litecoin fell to 70 dollars. CryptoGuestPosts provides a price analysis.
Bulls have stopped the decline by raising the support level to $73. After the end to the downtrend, Litecoin started a sideways movement above the $73 resistance but below the moving-average lines or resistance of $90.
On the upside Litecoin has stopped its uptrend at the moving-average lines. This indicates that the cryptocurrency could be bound to a range. Litecoin's price is currently in the middle of it range. The uptrend of Litecoin will start when it crosses above the moving-average lines. It will rise to its previous high price of $10 Litecoin, if the current support is lost, will also fall below its $70 previous low. It is currently valued at $85.
The moving average lines on the 4-hour chart are horizontally sloping, which indicates a sideways movement. The price bars are dominated doji candles that are above the moving averages. This is why traders are ambivalent about the direction of the market.
Resistance Levels: $100, $120 and $140
Support levels: $60, $40, $20
Litecoin is continuing to trade in a range and has risen over the $73 level of support. The altcoin consolidates above the current support in the short-term with the appearance of doji candles. Altcoins are currently trapped between the moving average line and buyers who try to keep the price above the lines. If the cryptocurrency's recent high is rejected, then price will rise.
Disclaimer. This analysis and forecast is the personal opinion of the author. It does not constitute a recommendation for the purchase or sale of cryptocurrency, and should not therefore be considered as a endorsement by CryptoGuestPosts. Before investing in funds, readers should conduct their own research.
