CRYPTO NEWS

Shiba Inu (SHIB) could surge by 35% despite bearish sentiment in the market

Shiba Inu (SHIB) has been recovering from the massive sell-off in crypto over the last few days. The coin looks like it has some significant upside and could outperform other major coins on its road to recovery. More price analysis to come later but first, key developments:

  • SHIB has gained around 3% over the last 24 hours, outperforming most major coins

  • The meme coin had lost nearly 40% of its value over the last 7 days alone

  • But a quick reversal that pushes SHIB up by at least 35% is plausible

Data Source: Tradingview 

Shiba Inu (SHIB) – Why bulls are confident

The beginning of May has not been good for crypto. The market has generally dropped, and SHIB was not spared. The coin lost around 40% of its value in the last 7 days. However, there is a good opportunity for a quick rebound and a trend reversal that could push the price higher. 

In fact, this will not be the first time this has happened. After dropping to $0.0000135 at the start of May, SHIB recovered very fast. The trend reversed in less than 12 hours, where SHIB gained around 30%. In the process, a swing high of $0.0000179 was set. 

Ever since the meme coin has established a range of between $0.0000135 and $0.0000179. At the moment, SHIB is at the upper side of that range at $0.00001591. We expect SHIB to surge even further in the coming days.

Can SHIB reclaim its all-time highs this year?

The volatility we have seen in the broader crypto market has been very persistent. Every time the market recovers, we end up seeing another sell-off shortly after. It is therefore unlikely that SHIB will regain its all-time highs this year. 

But this does not change the positive outlook for the meme coin. There is still an opportunity for relatively better gains before 2022 is out.

The post Shiba Inu (SHIB) could surge by 35% despite bearish sentiment in the market appeared first on Coin Journal.

Binance Coin Price Prediction for Today, May 14: BNB Under Pressure As Price Plummets Below $290

The Binance Coin price prediction eyes $285 support to gain momentum to overcome resistance at the $300 level. BNB/USD Market Key Levels: Resistance levels: $350, $370, $390 Support levels: $230, $210, $190 BNBUSD – Daily Chart BNB/USD has been facing the downside as the coin heads to cross below the lower boundary of the channel.::Listen

The Binance Coin price prediction eyes $285 support to gain momentum to overcome resistance at the $300 level.

BNB/USD Market

Key Levels:

Resistance levels: $350, $370, $390

Support levels: $230, $210, $190

Binance Coin Price Prediction
BNBUSD – Daily Chart

BNB/USD has been facing the downside as the coin heads to cross below the lower boundary of the channel. Before the sideways trading, the Binance Coin touches the resistance level of $298 with the generally bullish market during the European session as the coin retreats below the opening price of $290.2.

Binance Coin Price Prediction: Would BNB Price Move Higher?

The Binance Coin is trading at $287.3 amid losses below the 9-day and 21-day moving averages in the daily chart. At the time of writing, the drop is likely to be consistent as the technical indicator Relative Strength Index (14) emphasizes the declines trending lower below 35-level. The nearest support at $250 is likely to hold despite the strong arm of the bears while sideways trading could also take precedence based on the technical indicator.

However, to come out of the resistance range under $300, BNB/USD must pull toward $320 and focus on taking down higher hurdles at $350, $370, and $390. Nevertheless, if the bullish push failed and $270 support comes to focus, expect more support at $250 below the lower boundary of the channel, and any further support levels could be located at $230, $210, and $190.

BNB/BTC Market: Consolidating to the Downside

Against Bitcoin, the recent price decline places the Binance Coin below the 9-day and 21-day moving averages. However, the 0.009 BTC and below could provide a support level for the next selling pressure as the Relative Strength Index (14) moves below 50-level.

BNBBTC – Daily Chart

Meanwhile, after touching the daily high of 0.010 BTC today, BNB/BTC price drops to where it is currently trading at 0.0098 BTC. However, if the support level of 0.0094 BTC can act as a solid line of defense against any further downtrend; the resistance level of 0.010 BTC and above may come into focus.

Read more:

Shiba Inu (SHIB) could surge by 35% despite bearish sentiment in the market

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