SHIB/USD is trading near vital long-term support levels, and actually tested vital depths over the weekend which sparked a moderate reversal higher.

SHIB/USD is within a dangerous trading range which some speculators may find attractive, and others may choose to stay away from the potential volatility.  SHIB/USD tested depths this past Saturday which saw its value fall to lows seen in January as it briefly darted towards the 0.00001825 ratio. A reversal upwards did occur rapidly after this lower mark was challenged, and SHIB/USD is now seemingly acting in a consolidated manner near a price around 0.00002130.

SHIB/USD is an intriguing barometer regarding overall behavioral sentiment in the broad crypto market. The consideration that SHIB/USD continues to wrestle near important support levels needs to be acknowledged. SHIB/USD has not been able to produce a significant sustained move higher recently and this mirrors other major cryptocurrencies.

The test of lows this weekend, which had not been seen since January shows that a large amount of nervous sentiment may be boiling in the digital assets as speculators choose where to wager on their chosen risks. Day traders who are attracted to the potential of volatility in SHIB/USD not only have to consider the support levels which the cryptocurrency is bouncing along, but the notion that a rather consolidated mode is now being seen too.  Technically the fact that SHIB/USD remains in a magnet like grip near important lows needs to be interpreted.

If a trader remains skeptical about the broad cryptocurrency market and believes current prices indicate more nervous sentiment will be displayed, then it may make sense to wager on SHIB/USD remaining weak and potentially testing lower depths again. The 0.00002100 level could prove very important, if it is broken lower near term, and the price of SHIB/USD cannot fight back above this mark that would be a negative signal.

Traders always need to keep in mind that SHIB/USD moves in fractional digits. Shiba Inu can produce huge swings in value depending on the amount of leverage a speculator is using within SHIB/USD. Small moves can cause big results for those who putting on big bets.

The door is open for speculators who enjoy wagering on cryptocurrencies to embrace the dangerous potentials of SHIB/USD. Traders who believe upside momentum is going to develop should keep their targets realistic and perhaps only aim for nearby resistance levels as take profit goals. Sellers of SHIB/USD should also be ready to cash out of winning positions quickly to avoid sudden reversals which are a frequent force within Shiba Inu.

 

 

Shiba Inu Coin Short Term Outlook:

Current Resistance: 0.00002176

Current Support: 0.00002112

High Target: 0.00002221

Low Target: 0.00002025

 

DOT/USD reversed lower after hitting a one month high two days ago, but Polkadot has scratched its way higher again and could attract speculators.

DOT/USD is trading below the 23.0000 juncture as of this writing, but its current value may attract the attention of optimistic speculators. After battling to a mid-term high on the 2nd of April when DOT/USD came within sight of the 23.8000 mark, the cryptocurrency then reversed lower, but again yesterday another attempt upwards was seen only to be pushed down again. However, in early morning trading Polkadot continues to incrementally gain and is within sight of important short term resistance.

The ability of DOT/USD to challenge the 23.8000 level a couple of days ago is intriguing, because it firmly put the cryptocurrency within touching distance of prices that have not been demonstrated since the middle of January. Since stumbling to a low near 13.7500 on the 24th of February, DOT/USD has incrementally been able to produce gains. While the high of nearly 55.5500 seen on the 4th of November 2021 may feel like miles away, price action produced the past month in DOT/USD has been positive.

The broad cryptocurrency market continues to show a change of sentiment may be underway. Yes, there are fresh memories of downward trends and the bearish trajectory to lows seen over the past six months should not be forgotten. However the recent ability of DOT/USD to march in step with the turnaround also being displayed by the major counterparts of Polkadot is enticing.

If DOT/USD can maintain its current stance which has shown strength as it battles in a price range slightly below values seen in the middle of January, this could be taken as a positive indicator. Conservative traders may want to wait for slight downturns in DOT/USD before igniting their long positions, but current price levels do look inviting and stop loss ratios can be constructed near rather close by support around the 22.5500 to 22.4500 levels. Leverage as always should be well defined and used cautiously.

DOT/USD is within sight of important resistance. If Polkadot can muster enough firepower to begin a real test of the 23.0000 juncture and surpass it and begin to touch the 23.25000 mark and sustain buying momentum, traders cannot be blamed for believing January values near the 24.0000 junctures up above are viable near term goals.

Polkadot Short Term Outlook:

Current Resistance: 23.2500

Current Support: 22.3900

High Target: 24.8000

Low Target: 21.5900