The price squeezes we see in Bitcoin and cryptocurrencies continue. While the leading cryptocurrency is still trading in the range of $ 29,000 to $ 30,000, it can be said that the prices of altcoins are stuck in a certain range. Let’s take a look at the latest situation in popular altcoins Dogecoin (DOGE), Shiba Inu (SHIB), Avalanche (AVAX) and Terra (LUNA).
Dogecoin and Shiba Inu
Dogecoin (DOGE), which is the largest meme token in terms of market value, is trading at $ 0.082 as of the writing of the article. It is noteworthy that DOGE has been stuck in the range of $ 0.093 to $ 0.079 recently.
Below these compression levels, $ 0.068 is currently seen as the bottom level, while $13 can be said to form the top. According to analysts, it is very difficult to talk about the start of an uptrend unless the $0.13 resistance in DOGE is broken. In addition, it should not be forgotten that 1 dollar in DOGE is both a technical and psychological resistance.
Shiba, the second largest meme token in the market after DOGE, is also trading at $0.00001160 at the time of writing. For the Shiba price, which is stuck in the $0.000013 to $0.00001110 range, no sudden rise is expected for now.
According to analysts, SHIB may continue to move forward consolidated for a while. Also, $0.000009 is currently at the bottom, while $0.000020 has formed a top.
Avalanche (AVAX) and Terra (LUNA)
AVAX, which is the 14th largest cryptocurrency in terms of market value, is trading in the $ 27.9 band at the time of writing. Similar to other cryptocurrencies, it is noteworthy that AVAX is stuck in the range of $ 37 to $ 26.
Finally, LUNA, the most talked about cryptocurrency of the past days, is trading at $ 0.00016 at the time of publication. In fact, the price of LUNA is not expected to increase at this time. Because almost the entire community thinks the accepted idea of hardfork is wrong.
As can be seen in the chart, LUNA is trading sideways after the big drop, and for now, it is considered close to impossible for LUNA to break a new record, let alone $1.
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should perform their transactions in line with their own research.