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COINTURK NEWS > Technical Analysis > Bitcoin Price Boosts Shiba Coin, Dogecoin, and Avalanche Predictions
Technical Analysis

Bitcoin Price Boosts Shiba Coin, Dogecoin, and Avalanche Predictions

In Brief

  • Bitcoin's price increase positively impacts Shiba Coin, Dogecoin, and Avalanche.

  • Shiba Coin targets specific resistance levels for sustained growth.

  • Dogecoin and Avalanche show potential depending on Bitcoin's performance.

Ömer Ergin
Ömer Ergin 8 months ago
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The price of Bitcoin $104,990 rebounded on the last business day of the week, reaching $63,000, while SHIB started the day with an 8% increase. Following a rapid recovery from below $59,000, the BTC price has facilitated a quicker rise in altcoins. Assuming this positive trend continues in the upcoming days, what price targets can be set for SHIB, DOGE, and AVAX?

Contents
Shiba Coin Price PredictionDogecoin (DOGE)Avalanche (AVAX)

Shiba Coin Price Prediction

In two days, the Shiba Coin price increased by 13% from the bottom, currently aiming for the resistance at $0.00001935. For the upward movement to become sustainable and accelerate, it is essential to regain the parallel channel support at $0.00002088, as previously mentioned.

After a few weeks of positive market sentiment for Shiba Coin, the anticipated levels are $0.00002573 and $0.00002946. If it closes above this second level resistance point, a new all-time high trajectory may be likely.

Additionally, $0.00001632 serves as a potential support level in case the BTC price reverses.

Dogecoin (DOGE)

Dogecoin $0.174675 holders managed to maintain the critical $0.105 level to limit the decline, which allowed a return to $0.11. If the positive momentum in Bitcoin continues and $67,000 is targeted again, we could see a rise towards $0.13. The pivotal point for rallying momentum lies at $0.152, and if this level is supported while surpassing $0.18, movements towards $0.23 could be witnessed.

To restore its previous highs, Dogecoin needs renewed risk appetite as promises for new functionalities and ecosystem development have been forgotten. Short-term uncertainties from the upcoming U.S. elections complicate this outlook.

Avalanche (AVAX)

Following the dips at $20.6 and $24, AVAX continues to create higher lows, supporting a stable price increase. However, more is required for significant movement. With Bitcoin’s excessive volatility, even Ethereum $2,529‘s recent gains lag behind BTC, making it challenging for altcoins to witness substantial recovery. The first target on the upside appears to be $30.72, with a secondary phase possibly opening the door to $32.95 and $42.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 11 October, 2024 - 11:22 pm 11 October, 2024 - 11:22 pm
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