A falling wedge pattern has been observed to form on the daily chart timeframe of the Shiba Inu (SHIB) meme cryptocurrency, with crypto traders setting buy entry positions to exploit this pattern formation.
Tron (TRX) and ETFSwap (ETFS), two notable underdog cryptos with bullish price potential, have also been observed by top traders and analysts to show strength alongside the Shiba Inu (SHIB) token, shaking off bears in readiness for the upcoming 2024 bull cycle.
On Wednesday, a famous crypto trader on the X platform reported a falling wedge pattern formation spotted on the daily chart timeframe of the Shiba Inu (SHIB) token. For context, a falling wedge pattern formation, popularly known and leveraged by the trader community, is a bullish trading pattern that forms when a crypto asset price has been in a downtrend for an extended period right before its last downward movements.
A falling wedge pattern formation acts as a trading tool. It signals that alert traders of a potential breakout and bullish price reversal of a bearish crypto asset pair. Shiba Inu (SHIB), which in the previous months suffered severe price crashes owing to an extended bear cycle, is now observed to regain bullish momentum as a falling wedge pattern formation is spotted on its daily chart timeframe.
According to analysis from the crypto trader, a Shiba Inu (SHIB) breakout from the falling wedge pattern spotted during the daily timeframe would follow with a 50% price pump, and meme season will continue, he adds.
At press time, Shiba Inu (SHIB) trades at $0.00002442, a 3.29% price decrease in its trading in the last 24 hours.
Tron (TRX), the native token of the Tron ecosystem, has proven resilient amid a recent market crash that negatively affected several cryptocurrencies’ prices. The bulls are notably seen to win the fight against bears as they push for a breakout above the key price resistance level at $0.13.
An ascending triangle pattern formation has also been spotted on the Tron (TRX) daily chart timeframe, validating a potential TRX breakout.
At press time, Tron (TRX) trades at $0.125, according to Coin Market Cap data.
Like never before, ETFSwap (ETFS) bulls are taking the crypto industry by storm as they skyrocket the trading volumes of the native token ETFS, which is selling out fast in its ongoing stage 1 of ICO presale.
According to in-depth profitable crypto investment research carried out by top analysts, ETFSwap (ETFS) has been discovered to be an undervalued crypto gem with a high potential of yielding a 2500x ROI to early investors in the upcoming bull cycle due to its advanced platform utilities and expanding whale community.
On the ETFSwap (ETFS) decentralized platform, a wide array of profitable cryptocurrencies and tokenized exchange-traded funds (ETFs) are available for retail and big investors to trade. The platform, which takes advantage of tokenization to bring these ETFs on-chain, allows smart investors to leverage a $10 trillion traditional ETF economy.
The best part is that ETFSwap provides swift and instant settlements of tokenized funds to investors without the hassle of users providing KYC and other sensitive information. The decentralized platform prioritizes the privacy and security of its investor and user community. That is why it has gone to great lengths to be audited by CyberScope, a top security firm that verifies its platform as safe and highly secure for user trading interactions.
ETFSwap’s native token, ETFS, currently sells at an undervalued price of $0.00854 in stage 1 of its ICO presale and is being leveraged by institutional players and big whales to position for short and long-term gains.
Stage 2 of ETFSwap (ETF) guarantees a 200% short-term gain to all investors, as its token price is programmed to sell at $0.01831. So, take action now to join the crypto millionaires who will be made in the upcoming bull cycle through ETFSwap (ETF).
For more information about the ETFS Presale:
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