The price of Bitcoin has rebounded to $63,000, marking a steady increase at the end of the trading week, while Shiba Coin (SHIB) experienced an 8% rise. This upward trend follows a swift recovery from below $59,000, creating a favorable environment for altcoins to gain momentum. If this trend persists, projections for Shiba Coin, Dogecoin (DOGE), and Avalanche (AVAX) show promising dollar targets.
What are the expected levels for Shiba Coin?
In just 48 hours, Shiba Coin has jumped 13%, eyeing a resistance level of $0.00001935. For this rise to maintain its strength, it is vital to reclaim a support level of $0.00002088. If market sentiment remains positive, anticipated price levels for Shiba Coin could reach $0.00002573 and $0.00002946, with the potential for a new all-time high if it closes above the latter.
How is Dogecoin performing currently?
Dogecoin investors have successfully held the crucial $0.105 threshold to mitigate losses, facilitating a rebound to $0.11. If Bitcoin’s upward momentum persists towards the $67,000 mark, Dogecoin could trend toward $0.13. Achieving this rally will depend on maintaining support at $0.152, with a breakthrough at $0.18 possibly leading to a target of $0.23.
Avalanche (AVAX) has shown resilience, bouncing back from dips at $20.6 and $24, establishing higher lows that support gradual price growth. However, for continued progress, significant recovery is needed amidst volatile Bitcoin conditions. The next target for AVAX is set at $30.72, which could potentially lead to $32.95 and $42 if momentum increases.
- Shiba Coin eyes resistance at $0.00001935.
- Dogecoin holds support at $0.105, aiming for $0.13.
- Avalanche targets $30.72 for further gains.
Altcoins are responding positively to Bitcoin’s resurgence, indicating a promising outlook for traders. Continued upward movement in Bitcoin could further amplify the gains of SHIB, DOGE, and AVAX, underscoring the interconnected nature of cryptocurrency markets.
Disclaimer: 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 conduct their own research.
