Avalanche (AVAX) finally broke out of the pennant triangle pattern with strong volumes. Meanwhile, Shiba Inu (SHIB) continuously struggles to bounce off the crucial support level. Both projects are leaders in their respective sectors but are now facing market volatility. Some investors think Avalanche (AVAX) and Shiba Inu (SHIB) are already extended and booking profit for other better opportunities.
Avalanche (AVAX) Advances Towards Upper Trendline 50-Period MA Big Hurdle
Avalanche (AVAX) continued the green candle rally the day after the breakout. After the three down legs, this is the first prominent reversal the coin is seeing. The breakout has gained an excellent follow-through, with the Avalanche (AVAX) price moving above the $23 level. There are two major hurdles to the price of starting a bull rally: the 50 SMA and the second upper trendline of the channel.
The actual reversal will be considered when the Avalanche (AVAX) price breaks above the major resistance of $32. Additionally, the market’s sentiment will affect the direction of Avalanche (AVAX) compared to other cryptocurrencies.
Memecoins Laggers In Current Market Situation, Weak Price Action In Shiba Inu (SHIB)
Despite the market recovery, meme coins have failed to recover from the correction. Shiba Inu (SHIB) has been trading above $0.000013 for the last 15 days. The relative strength index indicator of Shiba Inu (SHIB) is 41.8, indicating neutrality between buyers and sellers. The same is conveyed by the price moving in a range.
If Shiba Inu (SHIB) breaks from the current level, the next demand zone will be $0.000012 and $0.00001. Resistances on the upper side are $0.000015 and $0.0000175. Also, the short-term averages of 10 and 20 periods are working as resistance for the Shiba Inu (SHIB) price, and crossing them will be challenging for the coin.
DTX Exchange: Dream Platform Of Traders And Investors
While the memecoin sector is not performing and blue chip coins like Avalanche (AVAX) and Shiba Inu (SHIB) have not been able to deliver any return, DTX Exchange (DTX) has become a point of intrigue for short-term and long-term investors.
DTX Exchange (DTX) is making waves in the trading industry by aiming to revolutionize traditional trading methods and open up new growth opportunities through passive income strategies. It offers powerful and easy-to-use trading techniques, backed by AI technology, with features like no KYC requirements and distributive liquidity pools.
DTX aims to make trading globally accessible and promote financial inclusion by tackling the critical challenges of traditional financial systems. Enabling the trading of various asset classes bridges the gap between traditional finance (TradFi) and crypto. The token can be used for several purposes, including paying trading fees, accessing premium features, investing in tokenized assets, staking, and governance.
Key Expert Projection
With strong community support for its advanced technology, DTX Exchange is about to enter phase 3 of its presale, with a price of $0.06, a 50% rise from the current level of $0.04.
Learn more:
Buy Presale
Visit DTX Website
Join The DTX Community
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