According to crypto analyst Akash Girimath, the Shiba Inu price is sitting on a mine that could explode in the bulls’ face if it triggers an early rally. That’s why the analyst says SHIB investors should be patient. Also, according to the analyst, Dogecoin price is showing its plans after tagging an inflection point that is likely to trigger a rally. The analyst states that investors should pay close attention to the buy zone and how DOGE reacts to it. We have compiled Akash Girimath’s analysis for our readers.
“Shiba Inu price needs to undo the nodes”
cryptocoin.com Shiba Inu price has been hovering above the high time frame support barrier at $0.0000098 for about three weeks. It shows no sign of violating it. The bulls here are supported by the 200 four-hour Simple Moving Average (SMA), which serves as a stable support ground.
The bullish trend looks reasonable. However, investors need to pay close attention to the Fair Value Gap (FVG), a price inefficiency ranging from $0.0000082 to $0.0000093. Unless the Shiba Inu price fills this in, the threat of a sudden reversal hangs over the bulls’ heads. Therefore, traders should expect a 15% pullback to occur if the 200 four-hour SMA is breached. This development will be the first sign that SHIB should break the $0.0000095 support barrier.
SHIB 4-hour chartAfter a quick glance, things seem to be on a downward trend. However, it is not. In fact, the faster the Shiba Inu price fills the FVG and ranges between $0.0000082 and $0.0000093, the faster SHIB bulls are likely to trigger an uptrend.
However, if Shiba Inu price bounces off the 200 four-hour SMA at $0.0000098 early, it should clear the $0.0000139 hurdle and turn it into a support base. Doing so will invalidate this bearish view for the meme coin. It will also trigger further bullishness.
“Dogecoin price ready to leap”
Dogecoin rallied 60% between June 18 and June 27. DOGE price formed a range from $0.049 to $0.078. An early attempt to collect the higher DOGE failed. It therefore caused a steep correction that brought DOGE into a buy zone.
This area extends from $0.053 to $0.060 and is well below the midpoint of the range. This indicates that it is in a deep discount area. Often times, such corrections reverse in the aforementioned area. Later, it causes the next uprising to begin. For Dogecoin price, market participants can look forward to something similar.
DOGE 1-day chartHowever, the only obstacle blocking DOGE’s path is the 200 four-hour Simple Moving Average (SMA). Breaking this hurdle is the key and sign that the meme coin is ready to take off. In such a case, Dogecoin price will most likely rise and retest the $0.078 high range. It will also revisit the higher timeframe resistance level at $0.082 in some cases.
A daily candle close below the $0.049 low range for Dogecoin will invalidate the bullish argument. In such a case, DOGE is likely to slide down in search of stable support levels. Investors can expect the Dogecoin price to revisit $0.047 before buyers can rally before their next attempt.
