SHIB, Ripple and ETC: These Levels Expected Next Week!

According to crypto analyst John Isige, profit taking could drive the Shiba Inu (SHIB) price down by 15%. The analyst says it’s time to lock in profits as Ethereum Classic (ETC) pulls back. The analyst also notes that the crypto industry Ripple (XRP) has bullish potential. We have compiled the analyst’s SHIB, XRP and ETC assays for our readers.

“SHIB is in consolidation, but it won’t be for long”

Koindeks.com As you follow, SHIB is consolidated within the boundaries of a rectangular model. There is pressure to buy. But more is needed to detonate the SHIB on an accurate northward move. It is highlighted by the 50-day Exponential Moving Average (EMA) (red). Therefore, sellers will be ready to play if SHIB fails to hold on to the most precious pillar.

SHIB daily chart

The rectangle pattern on the chart is considered neutral until it makes a clear break above or below the SHIB. It is possible that the downtrend before the rectangle will increase the baht of 15% down from the current market cap of SHIB.

Traders scanning for shorts should value the SHIB non-trade until a puck breaks below the 50-day EMA. An ideal signal would be a break below the $0.00001277 rectangular reinforcement ahead of the 9.80% profit target of $0.00001061. An uptrend in SHIB is doubtful, especially given the Market Value Actual Value (MVRV) profit model. The chart below shows multiple SHIB holders taking profits. Thus, they sell to stabilize benefits while waiting for suitable entry positions on the downside.

SHIB MVRV

MVRV monitors the profit or loss ratio of SHIB holders by comparing the last price of the tokens with their current market price. Data above 1 indicates a very expensive asset. This often results in an increase in overhead pressure.

On the flip side, traders cannot overlook a potential breakout equal to the width of the assumed rectangle at $0.00001303 from the breakout point. The bulls need to start with the defensive reinforcement provided by the 50-day EMA to ensure this breakout occurs.

“ETC succumbs to enormous resistance”

The move to $27.00 was largely dependent on the $22.20 reinforcement. Also, a four-hour close above the snag turned the reinforcement area at $24.00. This confirmed the bullish outlook in ETC price. As mentioned earlier, ETC rose to $27.00 within the boundaries of the ascending parallel channel. Despite this impressive move, ETC turned bearish as investors took early profits.

ETC four hour chart

If the $26.00 foothold yields to building-wide pressure, short sell orders will quickly become profitable. Also, the Moving Average Convergence Divergence (MACD) will likely confirm a sell signal before the new week. Traders should be careful when planning their next breakthrough if they want to avoid sudden bullish retracements. Sell ​​orders are triggered only after the 12-day EMA (blue) crosses below the 26-day EMA.

Before a strong downtrend, it is necessary to wait for ETC to break the puck below the 200-day EMA (purple). According to the Balance-Volume (OBV) indicator, most of the volume currently trading is negative. In other words, traders seem determined to sell ETC for short-term profits on the 200-day EMA, 50 EMA (red), and the stated underlying at $24.00. If forced, the altcoin will extend its leg to $22.20 before a recovery kicks in.

On the other hand, the bullish outcome of ETC cannot be completely ignored, especially when the altcoin is held above the three moving averages, the 50-day EMA, the 100-day EMA (blue), and the 200-day EMA. A four-hour candlestick above the weekly top of $27.00 likely adds faith to the bullish narrative of ETC with targets at $30.00 and $34.00 respectively.

Does the XRP bullish outlook have potential?

Ripple price offers a lively bullish outlook despite a minor pullback from $0.50. Ichimoku sits at the top of the cloud gauge. It also shows that the path with the lowest resistance is without the upper error.

XRP four hour chart

Also, XRP price is hovering above all applied moving averages, including the 50-day EMA (red), 100-day EMA (blue), and 200-day EMA (purple). Traders need to be careful when looking for short-term longs in the XRP price, especially when the MACD is about to confirm a sell signal. A four-hour daily candlestick near $0.50 makes shorts profitable with potential exit targets of $0.47 and $0.46, respectively.

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