Technical Analysis: Bitcoin (BTC), Shiba Inu (SHIB), Ethereum (ETH) and Decentraland (MANA)

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Under the leadership of Bitcoin, the markets are having quite a busy day.  The Bitcoin price that failed after the resistance test is paying the price for it. However, it is not yet possible to predict how much deeper this correction will go. Short and medium term Bitcoin (BTC), Shiba Inu (SHIB), Ethereum (ETH) and Decentraland (MEANING) we cover price forecasts, current support zones.

Bitcoin (BTC)

Poppe and many other analysts had predicted that the price would ease into this region after unsuccessful resistance tests. But the fact that the price is looking for a new bottom below $ 58,000 will also weaken the possibility of a return. Despite the Fidelity news that came in the evening, which could not exceed $ 61,000 Bitcoin price it continues to be overshadowed and resisted by excessive sales pressure.

According to Matt Maley, there is nothing to be afraid of in the recent price correction of BTC, the analyst who made some statements for Yahoo Finance believes that this correction will not deepen. Pointing below $ 50,000 for a serious and permanent loss scenario, the analyst reiterates that this is not impossible. If we experience something like this, we will fall below the rising trend in July, and this will seriously damage the crypto currency markets. Even Mark Yusko from Morgan Creek (known for his optimistic statements) thinks that the price could be pushed down to more than the 58,000 region.

The levels of 58.000, 56.500 and 53.500 will be critical in the downward course of the price. In the short term, the support of 60,000 is also psychologically important. It may be in your best interest to minimize your risks by checking your current stop zones.

Shiba Inu (SHIB), Ethereum (ETH) and Decentraland (MANA)

Let’s continue our evaluation with the largest altcoin. Ethereum (ETH) at the time of writing, it is receiving more than $4,250. We’ve seen it loosen up to $4,100 before. If it falls below $4,000, there is a risk that it will quickly fall into the $3,700 zone. Excessive sales pressure RSI being confirmed by, we see that the moving averages continue to send a bearish signal. The price needs to maintain the 4.230 and 4.100 zone in the short term. The $4,000 band, which is psychological support, can reverse the short-term trend.

Shiba Inu (SHIB), maximal The dogecoin killer and the meme token that achieved the first success continues to find buyers from 0.00004817 dollars at the time when the SHIB article was being prepared. We recently mentioned that the 0.00005000 region serves as an important support. This place has been lost, if it’s famous SHIB if the whales do not help, the price may loosen up to the region of 0.000035. The price that falls below this place risks getting a zero per head in the medium term. Of course Bitcoinit seems that the actions of will be decisive at this point.

The most optimistic picture compared to the other three crypto currencies Decentraland (MEANINGwe see it in ). The Metaverse the project, which has received its share of madness, has gained serious long-term investors. The four-hour cup handle formation, which would have reached $3.65 if Bitcoin had allowed it MEANING it would make us see the price. However, the current level of 3.17 dollars still shows promise. Moving averages have not yet turned red. The RSI is in the neutral zone and momentum is weakening. If the price can exceed $ 3.5, it will try to reach a new peak between $ 3.78 and Dec 5.38. The nearest strong support is in the 2.8 dollar region, if there are closures below 2.4, we can say hello to the falling train.

Disclaimer Of Liability: The information contained in this article absolutely does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and they should conduct their transactions in accordance with their own research.
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