September 30, 2022

DOGE, ELON, SHIB Price Analysis; MEME Coins Preparing For Santa Rally

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DOGE, ELON, SHIB Price Analysis; MEME Coins Preparing For Santa Rally

The latest correction stage in Meme coins like DOGE, ELON, and SHIB experienced a substantial drop in their price, causing them to lose over half of their value. Nevertheless, these coins were dropped to their particular vital assistance, where they got strong demand pressure to initiate a brand-new rally. RSI Bullish Divergence Hints Demand Pressure In Dogecoin

DOGE, ELON, SHIB Price Analysis; MEME Coins Preparing For Santa Rally< img class="alignnone"src="https://s3.tradingview.com/snapshots/1/1wyNpXIi.png"alt ="DOGE, ELON, SHIB Price Analysis; MEME Coins Preparing For Santa Rally"width ="1941"height ="1104"/ > Source- DOGE/USD chart by Tradingview The last time we covered a short article on Dogecoin on December 14, the token cost jumped 30%of its intraday session and was attempting to breach the near resistance zone around $0.193.

However, this rally could not sustain the greater cost for long and plunged back to bottom support of $0.16. After this 2nd retest, the token is again all set to challenge the overhead resistance of $0.193.

The pair managed to turn the dynamic resistance of the 20-day EMA into possible support. Moreover, the daily Relative Strength Index( 51) shows an obvious bullish divergence in its chart, indicating the rising command of the marketplace buyers.

DOGE Token Trying To Knockout Another Resistance

DOGE, ELON, SHIB Price Analysis; MEME Coins Preparing For Santa Rally< img class="alignnone"src="https://s3.tradingview.com/snapshots/i/ILVmy7KI.png"alt="DOGE, ELON, SHIB Price Analysis; MEME Coins Preparing For Santa Rally "width="1941"height= "1104"/ > Source- Tradingview The current correction stage is Dogelon Mars token formed a coming down triangle pattern in the day-to-day time frame chart. This pattern usually promotes more selling in a token when the price breaks down from its neck line, which in our case is $0.000001 or 0.168 Fibonacci retracement levels.

However, this token’s recent listing announcement on a popular exchange, i.e. Gemini and HuobiGlobal caused a parabolic rally in its rate, resulting in a bullish breakout from the rate pattern.

The ELON/USD pair rose around 70% from the bottom support and is presently dealing with strong resistance of $0.0000018. If the price stops working to breach this overhead resistance, the rate might plunge back to $0.0000013 or $0.000001 support.

With this current rally, the token rate recovered the bullish alignment of the essential EMAs(20, 50, 100, and 200) in the day-to-day timespan chart. Moreover, the token likewise reveals a bullish crossover 20 and 50 EMA, drawing in a lot more buyers in the market.

The daily Relative Strength Index( 64) shows a significant jump in its value, supporting the ongoing rally.

SHIB Token Hints 30% Growth Above $0.0000375 Mark

DOGE, ELON, SHIB Price Analysis; MEME Coins Preparing For Santa Rally Source- Tradingview We just recently covered a short article on Shiba Inu, where we saw the token price experience intense need pressure from the $0.00003 support. The set started a V-shaped recovery in price and acquired 26% over the last 4 four days.

On December 23rd, the token price breached the overhead resistance of $0.0000375, providing another entry opportunity for crypto traders. However, the price is presently retesting this brand-new support level, which will enhance the continuous rally.

Along with the horizontal resistance, the token price is also trying to recover the 50-day EMA line. Moreover, the daily Relative Strength Index( 51) value crossed above the neutral zone, indicating a bullish sentiment in the cost.

The post DOGE, ELON, SHIB Price Analysis; MEME Coins Preparing For Santa Rally appeared initially on CoinGape.