The article provides a technical analysis of various cryptocurrencies, including Dogecoin (DOGE), Chainlink (LINK), and Shiba Inu (SHIB). Here are the key points from each section:
Dogecoin
- DOGE has been in a downward trend and is struggling to maintain the price above $0.40.
- If the price breaks below the 20-day EMA ($0.40), it could slide to $0.36.
- A break and close below $0.36 could sink the pair to the 50-day SMA ($0.32).
- On the upside, the bulls will have to push and maintain the price above $0.43 to suggest that the breakdown below the channel may have been a bear trap.
Chainlink
- LINK has broken above the overhead resistance at $27.41 on Dec. 12.
- The upsloping moving averages and the RSI in the positive territory indicate that buyers have the edge.
- If the price bounced off $27.41, it will suggest that the bulls are trying to flip the level into support.
- A drop and close below $27.41 opens the doors for a possible drop to the 20-day EMA.
Shiba Inu
- SHIB’s recovery hit a wall at the $0.000030 overhead resistance on Dec. 12, indicating that bears are selling on rallies.
- The 20-day EMA ($0.000028) is flattening out, and the RSI is near the midpoint, suggesting a balance between supply and demand.
- Buyers will gain the upper hand if they propel the price above $0.000033.
- A break below the 50-day SMA ($0.000024) indicates advantage to the bears.
Other Cryptocurrencies
- Dogecoin fractal hints at an 85% DOGE price rally amid whale accumulation.
- Avalanche (AVAX) made a sharp comeback from $40.40 on Dec. 9, indicating aggressive buying at lower levels.
- Chainlink’s (LINK) upsloping moving averages and the RSI in the positive territory indicate that buyers have the edge.
Overall, the article suggests that some cryptocurrencies are showing signs of strength, while others are struggling to maintain their prices. It is essential for investors to conduct their own research and make informed decisions based on market analysis and personal risk tolerance.
