The cryptocurrency market has recently been abuzz with discussions about the onset of an altcoin season, which has proven profitable for many investors. Focus particularly has been on the performance of meme coins and projects related to artificial intelligence. This synopsis delves into the latest trends and technical analyses for Dogecoin, Shiba Inu, and Avalanche.
Dogecoin’s Market Position
Even though Dogecoin’s bulls haven’t sustained the cryptocurrency above the $0.18 mark, their ongoing efforts signal an optimistic trend. The increasing 20-day EMA of $0.15 and a favorable RSI indicate a potential upward trajectory. Should the price consolidate above $0.18, the next targets are $0.21, with an eye on further hikes to $0.24 and eventually $0.30. However, if bears drag the price under $0.14, we could see a decrease to $0.12 or even the 50-day SMA of $0.10.
Shiba Inu’s Consolidation Phase
Shiba Inu currently shows consolidation within an upward trend, fluctuating between $0.000029 and $0.000039. This pattern suggests that the bullish market is not rushing to cash in, indicating a potential climb to the primary resistance at $0.000039. A breach beyond this barrier may pave the way to $0.000046. Conversely, a dip below $0.000029 could signal a bearish turn, possibly leading to a decline toward the 20-day EMA of $0.000026 or the 61.8% Fibonacci level of $0.000023.
Avalanche’s Bullish Breakout
Avalanche has recently seen a bullish surge, breaking past the key resistance of $45.15 and maintaining momentum above $50. While a retest of the $50 level is possible, if the bulls establish this as support, the uptrend could extend towards $67. On the flip side, a sustained fall below $50 could suggest aggressive selling and lead to a retraction to the 20-day EMA of $44.
