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Shiba Inu (SHIB) and Dogecoin (DOGE) Trying To Avoid Market Uncertainty, While New Star Rises
Shiba Inu (SHIB): The Little Doge’s Market Path
Shiba Inu, often referred to as the ‘Dogecoin Killer,’ emerged as a decentralized meme token, creating waves in the crypto realm. Despite its playful origins, SHIB has showcased its might, sometimes unpredictably, in the market. Let’s delve deeper into its current situation.
Recent market movements highlight SHIB’s flirtation with its 9-day, 18-day, and 40-day moving averages. As the token gyrates around pivotal price points, its resilience is tested. Today, SHIB’s price stands at 0.0000073, a value that has become a pivot, with strong resistance above at 0.0000113 and support below near the 0.0000060 mark.
Based on current indicators, SHIB’s immediate price trajectory exhibits mixed signals. With the token’s frequent interactions at key moving average levels, traders may expect potential breakout or breakdown moves. Pivot points further offer resistance and support levels that can guide entry and exit points for strategic trading.
Given SHIB’s recent performance, the future looks promising but uncertain. The constant interplay with its moving averages signals possible price actions ahead.
However, as always, market factors and external news can influence its direction, necessitating a vigilant approach from traders. Amidst this turbulence, ScapesMania emerges, offering a potentially stable alternative for those willing to aim for returns above the medium level, i.e. in the ballpark of 400-500%.
#ContentStar# #HotTopicDiscussion# #CryptoObserves# #GateioLive# Solana Price Forecast: SOL can rally 14% if RSI can reclaim this level
Solana price has attempted many recoveries but all of them have met with a similar fate as sellers pile on. Currently, SOL is in a position to trigger one such bounce, but this move is contingent on the RSI indicator.
Solana price sustains recovery rally despite falling daily active addresses
Solana price at opportune level
Solana price slipped below the $20.25 level on August 31 and has been attempting to recover above it ever since. But after two rejections SOL currently trades at $19.45. Interestingly enough, the Awesome Oscillator (AO) has recovered above the mean level, suggesting the resurgence of bullish momentum. The Relative Strength Index (RSI), however, is still knocking on the 50 level.
While the outlook for Solana price is bullish, the bounce is contingent on the RSI recovering above the 50. Doing so would indicate that the buyers are back in town. A decisive daily candlestick close above $20.25 would be a secondary confirmation. In such a case, SOL might attempt a quick retest of the $22.17.
This move, in total, would constitute a 14% rally for Solana price.
#ContentStar# #GateioLive# #HotTopicDiscussion# #GateioBountyCreator# Analysts at DappGambl have concluded that the era of NFTs has ended. They contend that the once-thriving NFT sector now appears lackluster, with dubious market metrics as the hype fades.
During the hype’s pinnacle in 2021-22, the monthly trading volumes of non-fungible tokens were at $2.8 billion. This period mirrored the mid-19th-century California Gold Rush. Everyone started minting their NFTs: experienced artists, budding musicians, students, and tech-savvy retirees. Many were even fortunate enough to make substantial profits from it.
However, DappGambl's researchers believe that era has ended and is unlikely to come back.
Using data from NFT Scan, they conducted a comprehensive analysis of 73,257 collections to identify the prevailing trends.
What were the key findings from the current market analysis?
95% (69,795 out of 73,257) of the collections studied hold no market value.
Only one-fifth of all the tokens from these collections have been purchased, demonstrating the actual (and not media-inflated) interest in NFTs.
#ContentStar# #NewsMessenger# #HotTopicDiscussion# #GateioBountyCreator# Bitcoin Analysis
Bitcoin consolidated for a second straight session, with the cryptocurrency hovering around a floor at $26,500.
Following a high of $26,786.10 on Friday, BC/USD slipped to a low of $26,389.30 earlier in the session.
The price of bitcoin has since rebounded, and at the time of writing this is trading at the $26,570.51 level.
It appears that the rebound came as the relative strength index (RSI) failed to break out of its own floor at 50.00.
At the time of writing this, price strength is tracking at 50.01, and should this hold, bulls could be tempted to renter the market.
Moving averages continue to signal that there could be an incoming uptrend, with the 10-day (red) trend line still higher.#ContentStar##BTC##HotTopicDiscussion# Ethereum Analysis
Ethereum (ETH) remained under the $1,600 on Saturday, despite attempts by bulls to renter this region.
ETH/USD dropped to a low of $1,587.43 to start the weekend, hours after bulls pushed price to an high of $1,599.97.
However, it appears that there could be another attempt to move past this level, with ethereum currently trading at $1,592.86
Unlike bitcoin, an upwards crossover of moving averages has yet to occur, however it seems like this could happen at any point.
This could ultimately be the signal bulls need to amplify pressure, and potentially engulf current sellers.#ContentStar##HotTopicDiscussion##Gateio# 
