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COINTURK NEWS > Technical Analysis > Bitcoin Price Surge Signals Potential for Shiba Coin, Dogecoin, and Avalanche
Technical Analysis

Bitcoin Price Surge Signals Potential for Shiba Coin, Dogecoin, and Avalanche

In Brief

  • Bitcoin's rise impacts altcoin prices positively.

  • Shiba Coin, Dogecoin, and Avalanche show signs of potential growth.

  • Market sentiment plays a crucial role in price movements.

Fatih Uçar
Fatih Uçar 2 years ago
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Bitcoin $77,420 price returned to $63,000 with a steady increase on the last business day of the week, while SHIB continues the day with an 8% rise. After a rapid recovery from below $59,000, the BTC price is prompting faster increases in altcoins. Assuming this positive trend continues in the coming days, what dollar targets can be set for SHIB, DOGE, and AVAX?

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

Shiba Coin Price Forecast

In just two days, Shiba Coin price has surged 13% and is aiming for the resistance level at $0.00001935. For this upward momentum to be sustained and accelerated, it is crucial to reclaim the support level at $0.00002088, as previously highlighted.

Following a shift in overall market sentiment towards Shiba Coin, anticipated levels are $0.00002573 and $0.00002946. A closing above the second level resistance could indicate a new all-time high trajectory.

Additionally, $0.00001632 represents a support point that could be tested should the increase in BTC price reverse.

Dogecoin (DOGE)

Dogecoin $0.10886 holders have maintained the critical level of $0.105 to limit declines. This has led to a return to $0.11. If the positive momentum in Bitcoin prices gains traction and targets $67,000 again, we may see a continued rise towards $0.13. The rally’s momentum could hinge on maintaining the support at $0.152; surpassing $0.18 could lead to targeting $0.23.

Despite promises of additional functionalities and ecosystem development, the appetite for risk must return for Dogecoin to regain its former peak performance, which seems challenging due to uncertainties surrounding the U.S. elections.

Avalanche (AVAX)

Following the dips at $20.6 and $24, AVAX continues to create higher lows, which supports stable price growth. However, further progress is necessary. In an environment of extreme volatility in Bitcoin prices, significant recovery in altcoins appears difficult, with $30.72 being the primary target. The second phase could open the door to $32.95 and $42.

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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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Fatih Uçar 11 October, 2024 - 11:22 pm 11 October, 2024 - 11:22 pm
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