BTC has consistently closed above $60,000, aiding altcoins in recovering from oversold conditions. The influence of Donald Trump might continue to support this rise due to the upcoming elections and his scheduled speech at the end of the month. Additionally, Trump has selected a crypto-friendly Senator as his Vice President, which could positively impact the market.
What is Driving Shiba Coin’s Price Increase?
Shiba Coin (SHIB) has seen a 6% price increase, partly due to Trump’s favorable stance on cryptocurrencies. Next week is anticipated to be eventful, with the launch of the ETH ETF and MTGOX beginning refunds. These developments could invigorate buyer activity, potentially leading to a strong final quarter for SHIB.
Currently, SHIB is recovering from a dip below the parallel channel at $0.0000128. Traders are watching for a rise to the channel support level of $0.0000209. Although the price came close to this support, MTGOX transfers caused it to remain an upper wick. A closure above $0.0000185 could pave the way for new targets, with $0.0000262 being the next significant mark. A breach of the $0.0000294 channel resistance is expected to trigger a more substantial rally.
Will PEPE Coin Hit a New ATH?
If PEPE Coin continues to close above $0.0000111, it could be on track to achieve a new all-time high (ATH). Currently priced at $0.0000119, PEPE Coin is in a promising position. Should Bitcoin remain stable, investors might soon aim for $0.0000134. Beyond this, peaks at $0.00001576 and $0.0000172 could become attainable. With the excitement surrounding the upcoming November elections, PEPE Coin’s quick profit potential makes it an attractive option for new investors.
What Lies Ahead for Chiliz (CHZ) Coin?
Chiliz (CHZ) has recovered to $0.07, regaining the middle line of its parallel channel. CHZ Coin is following its projected path, and if BTC avoids any unexpected drops, a new peak in the $0.0848 to $0.0951 range might be achievable by the weekend.
Key Takeaways for Investors
– SHIB is expected to target $0.0000209 in the short term.
– PEPE Coin is poised for new ATH if it maintains closures above $0.0000111.
– CHZ could see peaks between $0.0848 and $0.0951 if BTC remains stable.
The overall market sentiment appears optimistic, driven by upcoming events and strategic political endorsements. Investors should keep an eye on these critical levels and potential market moves.