Analyst Jonathan Morgan says the Shiba Inu will outperform Dogecoin because SHIB is targeting a breakout to $0.000054. Analyst Akash Girimath says the Sandbox will see a bullish move to $5 as it creates a reversal setup. Grimath also points out that if AXS can overcome the two hurdles, it could see a 30% exit rally.
Future levels in SHIB price action
The Shiba Inu price action has dropped only a small amount compared to last Monday. The bulls have limited downside risks to the lower part of the Ichimoku Cloud so far. Shib price continued to slide down with marginal gains over the past week. However, the bottom of the Ichimoku Cloud acted as a strong support zone and prevented further selling. Shib price may be ready for a major bullish breakout, according to Jonathan Morgan.
Shiba Inu price has formed a somewhat bullish structure despite the current lows it traded recently. All the conditions required to perform the ideal Taurus Ichimoku breakout were complete except one. According to the analyst, if the bulls are able to push the Shib price to a close at or above $0.000029 to $0.000030, this pattern will be completed and will likely extend SHIBA’s run towards the $0.000054 value area.
The hypothetical long-term entry for the Shiba Inu price is a buy stop order on a three-box reversal of X’s that will consist of the current O column. At the time of publication, this entry would have been for $0.000028. The stop loss is a four box stop and the profit target is $0.000454. A two to three box end stop will help protect any profits made after entry. As SHIBA continues to drop, the entry and stop-loss move together – but the profit target remains the same. The idea of long-term trading is void if the Shiba Inu price drops to $0.000014 or below before the entry is triggered.
Sandbox bull rally on the verge
According to analyst Akash Girimath, it will trigger a bullish move to $5 as the Sandbox creates a reversal setup. Sandbox price is on the verge of a major bull rally as it forms a triple bottom setup. An increase in buying pressure could push SAND 57% to label the psychological support of $5. A daily candlestick near the $2.69 support level will invalidate the bullish argument. Sandbox price is forming a bearish reversal pattern on the daily chart, signaling a bullish outlook for itself. The latest pullback is fixed around a reliable support area, indicating a bounce around the corner, he says.
Sandbox price set a demand zone stretching from $2.69 to $3.00 on November 15, 2021, allowing the bulls to make a pit stop before pushing SAND to new highs at $8.48. This level has been significant as a pullback level for the price ever since. So far, Sandbox price has retested said demand zone three times, leading to a triple bottom setup. This technical formation indicates that the downtrend has ended and an uptrend will begin soon.
Supporting this outlook, the Sandbox price has been consolidating for about a week, suggesting a big move is expected. A definitive break of the $3.31 barrier will confirm a breakout and show the bulls retesting the weekly resistance barrier at $4.71. While there is a good chance for SAND to form a local top here, an extension of the rally could see the altcoin marking the psychological $5 level. This extra climb would create a 58% rise from the current position – $3.18. According to Grimath, a daily candlestick near $2.69 will create a lower low and invalidate the bullish argument for Sandbox price. This development could see the altcoin collapse to $1.80 in a dire scenario.
Is AXS 30 percent ready to rally?
If AXS can overcome the two hurdles, Axie Infinity price points to a 30% exit rally. Axie Infinity price’s upward movement is capped by two hurdles at $55.11 and $59.06. Breaking these blockages will result in a rise towards the $72.19 high range, which will coincide with a weekly resistance barrier. A four-hour candlestick near the lower range of $45.93 would invalidate the bullish thesis for AXS. The Axie Infinity price is at a crossroads in its journey to the top as it faces two tough hurdles in its path. Violation of these blockades is crucial for AXS to achieve its goal, but failure can have undue repercussions.
A bounce off this barrier is where interested traders can enter long positions and wait for AXS to break through the immediate hurdles of $55.12 and $59.06. Removing these blockages will pave the way for Axie Infinity price to run for a range higher at $72.19, which roughly coincides with the weekly resistance barrier. Altogether, this increase will constitute a 40% rise, a point where market participants can profit. On the other hand, if Axie Infinity price fails to hold above $51.48, it will signal weakness among buyers. In case of a downside, Axie Infinity price has one last chance to recover from a range low from $45.93.