This week has brought more pumps to the market by exploding the market cap to $2.26 trillion. We began to see the emergence of a lot altcoins like Ride doing 15x and Gal doing 10x return on investment. This has made fuel come to memecoins as they started to gain momentum and having a parabolic movement to the upside. It is perhaps time for altcoins and memecoin season.
Shiba Inu
Shiba Inu once again disrupts the cryptocurrency market with a strong comeback on the scene in March. Since the lowest trading point in March, SHIB has gained around 30%, which caused an immediate reaction among whales that started actively moving their funds. Shiba Inu’s price should have investors delighted as the price has broken out in a pure impulsive fashion. SHIB enthusiasts have multiple reasons to believe in future gains. Shiba Inu price continues to develop bullish confluence. Shiba Inu’s price is trading at $0.0000275 and showing no signs of weakness.
Following last week’s trade setup, the famous “Dogecoin killer” has soared in a vengeful manner, spiking through this month’s high at $0.00002860. The bears have likely felt the first blow and could be challenged further as the SHIB price consolidates at $0.00002900.
Shiba Inu price set for a phased rally
Shiba Inu’s price will swing back to $0.00003000, which coincides with the 200-day SMA. Technically, this is the most significant technical hurdle to overcome if investors want to book 65% of gains in this spring rally. In case a daily close above here is reached, a significant bullish signal will be delivered to the markets, which will trigger more investors and day traders to the price action to ramp it further up, resulting in crossing some grounds quite quickly to $0.00003400, which falls in line with the monthly R1. Shiba Inu’s price has broken out of a daily parallel trend channel that began early last week. The break of the trend channel may have warranted traders to add to their positions in hopes of establishing a new high before March ends.
The volume profile is also displaying bullish confluence. The spikes in volume after each consolidation is commonly known as the ramp pattern. Volume ramp patterns determine momentum and provide perspective on who is truly in control of any given market. With the bullish confluences in place, SHIB’s price could make a run for $0.000038. Regardless of the recent upswing, Shiba Inu’s price, like all altcoins, depends on the directional bias of Bitcoin. If BTC flash crashes, it will jeopardize the bullish outlook for SHIB.
Technical Indicators
Trading Volume: The volume had a nice increase last Saturday during the break, but struggled to remain at that level in the following days.
RSI: The daily RSI is found at 50 points and curving upwards. If it can make a higher high, then that would be an additional bullish signal.
MACD: The daily MACD is bullish with momentum picking up for buyers. This could anticipate a further price movement to the upside.
- Resistance levels- $0.00003, and $0.000033
- Support levels are $0.000025 and $0.00002
Doge Analysis
DOGE experienced strong dip-buying when its price crashed to levels around $0.10 two weeks ago, resulting in a 30% rebound move to $0.14 as of March 27. Meanwhile, the coin‘s upside retracement originated at a support level that constitutes a “falling wedge” setup, signaling an extended bullish reversal in the weekly sessions ahead.
DOGE price levels to watch out for next
Dogecoin‘s latest rebound move now eyes a quick run-up toward the $0.15-0.19 area, a range encapsulating three psychological resistance levels: the 20-day exponential moving average (20-day EMA; the green wave), the 50-day EMA (the red wave) and the 0.618 Fib line (near $0.19) of the Fibonacci retracement.
A strong pullback, accompanied by a rise in volume from the said resistance area, could have DOGE test the 0.786 Fib line near $0.10 as its interim downside target. Conversely, a decisive move above the range could result in an extended upside momentum toward $0.24, with an eye on $0.30 and $0.37 (also the falling wedge target).
- Resistance levels- $0.15 and $0.2
- Support levels are $0.12 and $0.12
Floki Inu
Bullish sentiment is back as Floki inu got featured on crypto.com article. Crypto.com is one of the top centralized crypto exchanges. Concerning all indicators, it seems that the accumulation period of Floki is over and it is about to have a bullish momentum to the upside. The MACD indicator lines show a bullish crossover above the neutral zone, projecting a buy signal.
- Resistance levels- $0.000045 and $0.00005
- Support levels-$0.00003 and $0.000027
Will Smith Inu
Will Smith slapped Chris Rock during the Oscar Awards. The crypto community created a token dedicated to the event, and it soared hours later. It was available for trading on some DEXes, such as Uniswap, and its price had soared by 10,000% at one point. According to CoinMarketCap, it retraced after yesterday’s peak but is still trading around $0.00000045. The total supply is set at 1,000,000,000,000. Nevertheless, there are multiple warnings on Twitter indicating that this is the next trendy rug pull, and users should be wary before investing in it.
Summary
Crypto fear and greed index hits ‘Greed’ for the first time in 4 months.
On March 28, the Crypto Fear and Greed Index jumped back to the “greed” position for the first time in four months. The last time the index reached the current position was when bitcoin reached a high of $69K per unit last year on November 10. It is time for altcoins to shine and bring gains to traders and investors.
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A former professional rugby player, Adam S. Tracy brings over twenty years’ experience as an attorney, consultant and dealmaker with a particular focus on cryptocurrency, digital products, payments and immersive corporate structures. As an accomplished executive and advisor to high risk merchants and stakeholders, Adam has proven himself as a results oriented, decisive leader with proven success advising early market entrants, technology adapters, as well as established participants across a wide range of verticals. Adam Tracy’s attack-first personality allows him to excel in dynamic, demanding environments including complex corporate negotiations, distressed environments and regulatory investigations.
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