Price Prediction: Shiba Inu Preparing For 50% Upswing and HUH Token Offers Fresh Buy Opportunity
Shiba Inu’s chart has posted a bullish divergence, indicating that the price is getting ready to reverse the long-term downward trend. Meanwhile, HUH Token has consolidated back to a support level, presenting an opportunity for buyers to get in before a 30% Upswing.
Shiba Inu (SHIB)
Shiba Inu’s price has been steadily declining since reaching its all-time high on October 28 and has lost an astounding 63% of its value. However, according to the 4-hour chart, SHIB may be gearing up for a trend reversal. If SHIB can break its blue downward trend line above $0.00003548 then the price could see a 50% rise to the its major resistance level at $0.00005435.
The main reason that currently has the “SHIB army” licking their lips is a sell divergence posted on the 4-hour chart. The relative strength index, seen at the bottom of the chart, has gone up while SHIB’s price has continued to go down. This indicates a sell divergence, which usually signals a trend reversal is on the way. However, SHIB’s price will have to break its major downward trend blue line in order to confirm the reversal.
On the other hand, if SHIB’s price breaks below its crucial support line at $0.00003178 then it could spell the end for the canine-themed meme coin, as the price would continue to spiral towards $0.000020000 leaving some investors suffering over 80% losses since its all-time high. With no intrinsic value or enhanced features compared to the top 5 cryptos, investors would be wise to approach this pup with caution.
HUH Token (HUH)
HUH Token has consolidated back to its support level at $0.0001726 presenting an opportunity for side-lined buyers to get in before a potential 30% Upswing to $0.0002374.
Earlier this week HUH Token reclaimed a support level at $0.0001726 indicating bullish appetite is strong at current levels.
Investors can now expect HUH’s price to bounce off the support level offering buyers a fresh opportunity to get in before the price swings up to test the first resistance level at $0.0002374. If HUH manages to break this barrier then the price could swing upwards to retest its all-time high at $0.0002725 – a rally of roughly 50% from current levels.
HUH 1-Hour Chart according to TradingView
If HUH’s price can break above the all-time high at $0.0002725 then investors can expect the price to continue to move upwards and create new highs, with the first Fibonacci extension level of 23.6% or $0.0003368 as the next target.
However, if HUH’s price falls below the support level at $0.0001726, then investors can anticipate a dip to retest the next support level at $0.0001618. Potentially offering traders a new buy opportunity.
HUH Token launched December 6 and rocketed over 4000%, breaking into PancakeSwap’s top 20 in the first week of trading.
HUH has a market cap of over $160 million, with over 12 000 holders. HUH’s recent listing on popular indexes CoinMarketCap.com and CoinGecko.com has also helped push the price upwards.
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