Investors who started the new year with hope due to the rise at the end of 2023 were shocked by the losses in the second quarter. Historical data pointed to a rise after the June drop, but the 10-year MTGOX FUD and German sales ruined everything. So, what are the current predictions for ADA, AVAX, and Shiba Coin at this stage?
Cardano (ADA)
On July 5, the ADA Coin price, which bounced off the support line of the descending channel, will try to reclaim the resistance line. If BTC is supportive and ADA Coin bulls act boldly, we might see a new attempt at $0.5. Moreover, the positive divergence in the RSI fuels hopes for a possible relief rally.
However, if the test fails, a sharp decline in ADA Coin price may occur again. In this case, we will see ADA Coin price lingering further within the descending channel. BTC was trading at $57,300 at the time of writing.
Avalanche (AVAX)
At the time of writing, AVAX was trading at $25.7 and still couldn’t close above EMA20. The moving average at $27.14 reflects the sales made by bulls during short-term rises. A significant portion of investors believe that MTGOX or bad inflation data will pump fear for another round in crypto, possibly for a deeper dip.
If EMA20 is surpassed, we might see a rise to the SMA50 level of $30.96. Sales at this point could push the price back to the $27.14 support or the rise might continue. However, if the price continues to linger with its current weakness, sales may accelerate on closures below $21.8. In this case, the price range of $19 to $18.5 will be targeted.
Shiba Coin (SHIB)
Although the SHIB price held at the EMA20 level of $0.000017 for a while, the bulls couldn’t resist further, and the price lost the region. BTC’s failed attempt near $60,000 played a role in this loss. If the bulls can maintain this key level, more increases may be seen. This would mean a test of the breakout region at $0.00002.
The target for a decline after continued sales at the current level or a failed test is $0.000012. If this is broken, $0.00001 will be targeted. Successfully surpassing the SMA50 level at $0.00002 could lead to a test of $0.000026.
