Cryptocurrencies have resumed their decline this week. They stalled for a few weeks after a significant setback in November, and last week the crypto market began to turn higher. Shiba Inu and Ripple showed a slight rise, but fell this week as market sentiment turned negative again. That said, I like this reduction because it makes it more attractive to buy. So let’s see where you can buy them.
Shiba Inu Daily Chart-Would you like to retest your support for $ 0.000030?
The Shiba Inu coin soared more than 10 times in value in October, and although the crypto market has been bearish since then, it has continued to decline steadily, causing some losses. As a result.
Occasionally there were attempts to reverse higher, but they did not succeed and the latest reversal seems to have failed. The rise stopped at 50 SMA (yellow) daily and now SHIB / USD is facing 100 SMA (green). Below that is support for $ 0.000030 that you would like to buy if the decline stops there. If not, the $ 0.000020 to $ 0.000025 area is a good zone to look for longs.
The popularity of the Shiba Inu remains high, and Coinmarketcap reveals that the Shiba Inu was the most watched cryptocurrency on the platform and had 188 million views. GiftChill, a cryptocurrency-to-gift card exchange platform, has also started accepting Shiba Inu as a payment method, but may also join Robin Hood early next year. Increasing popularity and recruitment should help increase Shiba Inu, but the market is currently bearish and may continue to decline until the market reverses.
Ripple Daily Chart-MA turns into XRP resistance
Will XRP reach $ 0.50?
Ripple Labs has been stuck in a proceeding against the SEC for over a year. This is the main reason why XRP has been unable to attend most rallies since September. In early September, the XRP / USD pair hit a high of $ 1.42, but has been declining highs and lows since then, showing bearish momentum.
The latest attempt to turn bullish ended at 100 SMA (green) on the daily chart, just above $ 1. And now XRP is trading again at $ 0.80. The November low was $ 0.60, so you might see this bearish move growing there. This is a good place to buy Ripple coins. If the decline continues, $ 0.50 will be the final level of support to buy. Hopefully, Ripple won the proceedings against the SEC in 2022 and prices soared, so this fall isn’t too bad.
XRP / USD