Price Analysis

Altcoins that Stand Strong, When Bitcoin Price Continues to be Shaky!

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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Jun 30, 2022

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Article Highlights
  • Bitcoin price continues to hover close to the strong support zone possessing its tendency to drop down hard in the coming days

  • On the other hand, some altcoins are following the path, while some decouple from the market trend and gain extensive bullish momentum

The altcoins in the current uncertain conditions possess huge strength and surge notably, recovering from the recent losses in no time. While Bitcoin’s (BTC) price has slashed below $20,000, some of the altcoins like 0x (ZRX), Cosmos (ATOM), Shiba INU(SHIB), etc stand strong. 

Shiba INU (SHIB) Price Analysis

shib price
  • The SHIB price heading strongly towards the apex of the huge descending triangle, it traded for the past 8 months
  • The asset is trying its level best to break out of the consolidation and surges high slicing the upper resistance, but testing the lower support seems imminent
  • Shiba INU is maintaining a significant bullish momentum in the short-term and hence may hover above $0.00001 by the Q2 close
  • However, in the long-term, the price is expected to visit the lower bottom at $0.00000850 to $0.00000900 before bouncing back to $0.00001638
  • The SHIB price is $0.00009986 with a jump of 2% compared to the previous day’s close.

Cosmos(ATOM) Price Analysis

atomprice
  • Like many, Cosmos (ATOM) price slashed hard since the beginning of 2022 and traded within a huge falling wedge
  • The price is very close to the apex and hence a final pullback may drag the price close to $4 which may induce a catapult action to ignite a strong rebound
  • With a flip, the ATOM price is expected to regain its 2-digit levels and achieve one of the important resistance at $12.4
  • Woefully, the asset may close the Q2 trade on a bearish note but eventually rebound firmly with significant bullish momentum
  • The Cosmos (ATOM) price is around $7.34 with a jump of 2.14% compared to the previous day’s close

0x (ZRX) Price Analysis

zrxprice
  • The 0x price has been trading within a rising parallel channel for a long time and maintaining a strong uptrend
  • The asset has also flipped from the middles ranges a couple of times and hence appears to be poised to retest the upper resistance again
  • Therefore, the price may certainly not break out of the parallel consolidation but could trade within the channel until the market trend stabilises
  • The 0x(ZRX) price is $0.3391 with a jump of 3.05% compared to the previous day’s close

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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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