Neutral Market Trend Causes Shiba Inu and Dogecoin to Experience a Significant Drop.
Bitcoin and Ethereum have remained stable in the last 24 hours, suggesting a neutral outlook after taking support just above the previous support level. Bitcoin has formed candlesticks in the lower Bollinger Band, RSI, and MACD on the daily chart, indicating a consolidation around $22,000. Ethereum has also formed red candlesticks in the lower Bollinger Bands around $1,560, while major technical indicators such as MACD and RSI suggest a correction or sideways movement. Meme coins, including Shiba Inu and Dogecoin, are also seeing bearish trends in their chart patterns, with Shiba Inu predicted to have a support level of around $0.00001 based on a downtrend. Crypto experts predict a volatile year in 2023, with the US FED’s interest rate hike impacting the overall performance of cryptocurrencies. However, investors can find opportunities to enter and profit from digital assets.
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