Price Analysis

Altcoins Ready for a Strong Rebound this Week, FTM, APE, DOT to Range High While SHIB Primed to Plunge Hard

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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May 9, 2022

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Highlights

    Altcoins like Fantom, Apecoin, Polkadot display a huge possibility of surging high by more than 12% to 15%

    On the other hand, the Shiba INU price is stuck up in a bearish well and hence a drop below pivotal levels may be incoming

The crypto space is currently undergoing deep plunge trouble as the Bitcoin price slides down below $33,000. With extreme fear among the traders, the market is expected to crash, slicing the lower support. However, some altcoins are expected to rebound firmly, gaining significant bullish momentum very soon. 

Fantom(FTM) Price Could Hit $1

ftmprice
  • The FTM price is all set to hit the lower support of the descending parallel channel and eventually ignite a strong uptrend soon. 
  • The flip may uplift the price towards $0.8 initially and in the extended bull run could also hit $1
  • However, it is extremely important for the asset to hold $0.60 levels, else the bullish scenario may be invalidated for some time. 

Read More: Fantom (FTM) Price Prediction: Will FTM Price Surge Beyond $5 In 2022?

Apecoin (APE) Price is Ready to Rebound

apeprice
  • The APE Coin price is swinging within a huge falling wedge since the beginning of the present month’s trade
  • The price is slowly ranging towards the upper resistance and appears to test these levels in a short while from now
  • The asset could eventually break through the descending pattern and range towards $13 as the RSI has bottomed hard within the oversold region and is primed for a rebound soon

Read More: ApeCoin Price Prediction 2022: Can $APE Price Reach Above $50?

Polkadot (DOT) Price to Offer Buy Opportunity Soon

dotprice
  • Polkadot price is heading towards the yearly lows around $10.38 and hence a significant flip is pre-programmed
  • After offering the traders a good buying opportunity, the price could hit the local resistance at $14 initially and later  continue ranging high towards $20
  • Here the bears may become pretty active and retest the levels between $17 to $19 and finally range high to hit $22 very soon.

Read More: Polkadot Price Prediction- Will DOT Price Close 2022 Trade At $40?

Shiba INU (SHIB) Price Primed to Plunge Below $0.00001 

shibprice
  • The SHIB price after breaking down from the symmetrical triangle is drowning in a deep bearish well and hence primed to hit the lower support soon
  • Currently, the price is hovering around $0.00001645 and the next major support is below $0.0000100 and therefore, if the price slides down, testing $0.00000945 may be imminent
  • However, the asset may encounter support at $0.00001355 but it does not appear to be strong enough to ignite a strong flip

Read More: Shiba Inu Price Prediction – Will SHIB Claim The $0.0001 Mark in 2022?

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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