Price Analysis

Bitcoin Dominance Breaks Apart, While Shiba INU(SHIB), Avalanche(AVAX) & Ethereum Classic (ETC) Price Gear Up

Author: Elena R

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Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Bitcoin appears to have annoyed the investors as the focus now has shifted to the other altcoins in the market. The asset’s dominance has dropped close to 2018 levels, indicating the possibility of revival of a strong AltSeason in the coming days.

Amid the dropped bitcoin org dominance, below mentioned altcoins may gain huge strength soon.

Shiba INU(SHIB) 

  • The Shiba INU (SHIB) price continues to trade along the lower support close to $0.00001214 as the volume appears to have dried up notably
  • The asset is expected to consolidate slightly and quickly make a move beyond $0.00001375 and later test the upper resistance at $0.00001409
  • However, the price after reaching these levels may face a slight pullback but eventually rebound firmly 
  • But by the end of the weekly trade, the price may sustain above the upper resistance and head towards the target at $0.000016

Avalanche (AVAX)

  • The Avalanche price continues to trade within the converging channel and consolidates heavily along the lower support
  • After experiencing extreme bearish pressure, the price may slice through the consolidation to gain levels close to $30
  • Before that, the asset may revisit the lower support below $25 to receive a catapult action to break out from the consolidation
  • While the bulls still remain distinct and may continue to remain passive until the AVAX  price does not make a move above $30

Ethereum Classic (ETC) 

  • The Ethereum Classic price spike high out of the bullish falling wedge ahead of the Bellatrix upgrade
  • Currently, the price is facing immense bearish pressure, but the bulls appear to be poised to hold the asset above the lower support
  • However, a significant upswing may elevate the price closer to the pivotal resistance above $44 in the next couple of days
  • By the end of the weekly trade, the ETC price is expected to trade close to $50 and experience a minor pullback.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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