Cryptocurrency News, Market Analysis

Bitcoin, Ripple, Dogecoin, Shiba Inu Price Analysis & Forecast.

After yesterday’s steep drop, Bitcoin (BTC) along with other cryptocurrencies is still in the red zone, in line with data provided by coinmarketcap.

Bitcoin Price Analysis

Bearish pressure increased yesterday, as the Bitcoin price retreated to a $58.5k support level. Because of the massive amount of sales, the bears were able to break through this support, establishing a new low of $56,870 USD.

Bitcoin, Ripple, Dogecoin, Shiba Inu Price Analysis & Forecast.

Bitcoin Price Chart – Source: CoinMarketCap

It didn’t work to get beyond $60,000 before the end of the day, and the drop continued into the night, down to $56,868 USD.

Trading volumes were lower in the morning, and the BTC price had not yet had a chance to test the 78.6 percent Fibonacci support. This level may be able to help the pair recover, allowing it to return to the $58,000 support level. The local downturn will continue if the pair fails to consolidate above this crucial support before the end of the week. At the time of writing, Bitcoin was trading at $57,400 USD.

Ripple Price Analysis

Ripple (XRP) buyers were unable to considerably increase the price over the previous night. Perhaps they can try again this morning to get back to the average pricing range.

Bitcoin, Ripple, Dogecoin, Shiba Inu Price Analysis & Forecast.

Ripple Price Chart – Source: CoinMarketCap

If the price consolidates above the $1.10 support, the effort will be declared successful. Otherwise, the bears may attempt to break through the psychological $1 barrier. At the time of writing, XRP was trading at $1.04 USD.

Dogecoin Price Analysis

DOGE is bouncing back after a slump, but the slide may not be over. The meme coin is now trading in a broad channel with neither negative nor positive signs. If sellers keep driving the price higher, there’s a possibility we’ll see a test of the $0.230 USD region shortly. At the time of writing, DOGE was trading at $0.2218 USD.

Bitcoin, Ripple, Dogecoin, Shiba Inu Price Analysis & Forecast.

Dogecoin Price Chart – Source: CoinMarketCap

Shiba Inu Price Analysis

Shiba Inu (SHIB) is the worst performer on the list, having down over 5% since yesterday.

SHIB broke through the $0.000042 USD support level and settled below it. Bears are now more powerful than bulls, as seen by the low purchasing trade volume. To seize the initiative, buyers should return above the green line, or the fall might extend to the drop zone at $0.00004028 USD.

Bitcoin, Ripple, Dogecoin, Shiba Inu Price Analysis & Forecast.

Shiba Inu Price Chart – Source: CoinMarketCap

At the time of reporting, SHIB is presently trading at $0.00004388 USD.

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