12.9 C
Manchester
October 9, 2024
BTC Hunts
Image default
Bitcoin

Bitcoin Nears Major Resistance While Shiba Inu Awaits for a Massive Rise Ahead

The post Bitcoin Nears Major Resistance While Shiba Inu Awaits for a Massive Rise Ahead appeared first on Coinpedia Fintech News

The crypto markets received a minor push in the early trading hours, which raised the BTC price back above $27,000 in very little time. The rise in the value of Bitcoin compelled the other altcoins to maintain a notable upswing that has been rising significantly. Tokens like Ethereum, XRP, etc. have maintained enough strength, while, cryptos like Shiba Inu are preparing to undergo a breakout. 

Bitcoin Tests Major Resistance

Source: Tradingview

After the recent price action, the BTC price has approached close to the major daily resistance. Currently, the price may encounter a couple of major resistance levels in the coming days. The first is around $28,000 and is located at 0.6% FIB levels; it sustains well, and a notable rise towards the next target at $28,800 may be expected. However, a notable plunge from the resistance zone may be expected, represented by the red arrows in the above chart. 

Major Surge Awaits Shiba Inu Price

Source: Tradingview

The Shiba Inu price has been consolidating within a very narrow range for nearly a week after undergoing a significant plunge in the first few days of May. However, the price is approaching the major daily support and also the daily lows.

But a rebound is expected to trigger around these support levels towards the targets at the resistance mentioned in the above chart. The first resistance could be around $0.000012, while the next target could be close to $0.00002 after surpassing $0.000015 levels. 

Related posts

Solana outperforms Ethereum despite 10% price drop

David Bradley

When Will Bitcoin Price Hit All-Time-High? Pro-Crypto Analyst Kevin Stevenson Predicts Timeline

David Bradley

Bone Price Analysis: Is BONE Coin On The Verge Of A Major Breakthrough?

David Bradley