Connect with us

Market

Bearish Trends and Market Sentiment Insights

Published

on


Shiba Inu (SHIB) has been experiencing volatility, and its mid- and long-term charts show mixed signals.

This comprehensive analysis will explore the current price action and technical indicators, providing a clear outlook for traders. Additionally, we will delve into the recent liquidation data to understand market sentiment and offer strategic recommendations for navigating the Shiba market.

Shiba Inu Technical Analysis: Bearish to Neutral Outlook

4-Hour Timeframe Analysis

SHIB has been experiencing choppy price action without clear direction at this moment. It is hovering around the $0.00002617 resistance level and finding support around $0.00002448.

SHIB/USDT (4H vs. 1D). Source: TradingView
SHIB/USDT (4H vs. 1D). Source: TradingView
  • 100-period EMA (Blue): Currently providing a support level near $0.00002528.
  • 200-period EMA (Green): Acting as support near $0.00002500.
  • RSI: The Relative Strength Index (RSI) is around 50, indicating neutral momentum. RSI has declined from 70 to 50, indicating a downward trend.

Support and Resistance Levels (4H):

The immediate resistance level is $0.00002617. Breaking above this level could signal a short-term bullish move toward $0.00002944.

Conversely, key support is at $0.00002448. A drop below this level could lead to further declines towards $0.00002327.

Read More: How To Buy Shiba Inu (SHIB) and Everything You Need To Know

Daily Timeframe Analysis

SHIB has been in a sideways trend on the daily chart, trading inside the Ichimoku Cloud, indicating indecision.

Technical Indicators:

  • Price Location: The price is trading within the Ichimoku Cloud, indicating a neutral trend. The top of the cloud is acting as resistance around $0.00002800.
  • Conversion Line (Tenkan-sen): It is close to the current price, further highlighting the lack of a strong trend.
  • Moving Averages:
  • 100-day EMA (Blue): Currently below the price at $0.00002200, providing support.
  • 200-day EMA (Green): Below the current price, indicating long-term support.
  • RSI: The RSI is around 50, reflecting a balanced market with neither overbought nor oversold conditions.

Support and Resistance Levels (1D):

The top of the Ichimoku Cloud marks immediate resistance at $0.00003200. A break above this level could target $0.00004500.

Conversely, key support is approximately $0.00002300, coinciding with the 100-day EMA and the lower boundary of the daily Ichimoku cloud. Falling below this level could signal the continuation of a bearish trend.

SHIB Liquidations Data: Market Sentiment Insights

The chart displays the liquidations of Shiba Inu trading positions, categorized into long (green bars) and short (red bars) liquidations over a specified period.

Spikes in long liquidations are observed on May 30, indicating significant downward pressure during that period.

Short liquidations are generally less frequent but have notable spikes, particularly around the end of May.

SHIB Liquidations: Coinglass
SHIB Liquidations: Coinglass

The recent dominance of long liquidations indicates a bearish sentiment in the market. Traders who expected SHIB’s price to rise have been caught off guard by price declines, leading to forced liquidations of long positions.

After all, traders should be cautious about using high leverage in such a volatile environment. Adjusting leverage levels and setting stop-loss orders may be prudent to mitigate liquidation risk.

Eventually, observing liquidation data can provide insights into market sentiment and potential price movements.

Strategic Recommendations for Traders

Outlook: Bearish to neutral. Furthermore, the daily chart indicates that SHIB is in a state of equilibrium, with the price trading within the Ichimoku Cloud and RSI at neutral levels. A clear breakout above $0.00002800 or a breakdown below $0.00002200 would be needed to establish a new upside trend.

Monitor Key Levels: Monitor critical support and resistance levels. For SHIB, these include $0.00002617 and $0.00002800 for potential bullish breakouts and $0.00002448 and $0.00002200 for bearish breakdowns.

Manage Leverage: Given the high volatility in the SHIB market, use leverage cautiously. Consider reducing leverage to minimize the risk of significant losses.

Read More: Shiba Inu (SHIB) Price Prediction 2024/2025/2030

Set Stop-Loss Orders: Protect your positions by setting stop-loss orders at strategic levels to avoid forced liquidations during sudden market movements.

Analyze Liquidation Trends: Use liquidation data to gauge market sentiment and anticipate potential price reversals or continuations. This can help you make informed trading decisions.

By integrating technical analysis with insights from liquidation data, traders can better navigate the volatile SHIB market, position themselves for potential opportunities, and reduce risks.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Market

Best Solana Airdrops for Early Crypto Access

Published

on



As Bitcoin hauls altcoins further north in the wave of US election euphoria, crypto airdrops provide investors with low-bar entries into early-stage projects without any initial investment.

DeFi and airdrops researcher Jussy.Sol highlighted several crypto airdrops offering investment opportunities.

Switchboard: Plug into the On-Chain Economy

Switchboard airdrop is potentially confirmed, with orbs available for earning when participants supply liquidity to any partner project or complete quests. They have also recently announced a partnership program with Monad, which could culminate in a commendable airdrop.

“If you missed $1,500 — $3,000 drop from PYTH, you still have a chance to get SWITCH. To collect ORBs, use their partner protocols (RainFi, Save, Dumpyfun, Marginfi, All Domains, Drift), and stay active in Discord,” the researcher noted.

Read more: What are Crypto Airdrops?

Indeed, participation criteria include participating in community tasks and engaging with supported protocols to increase orbs, ultimately improving one’s chances in the airdrop. The Solana Guides website notes Flexlend, AllDomains, Solend, Marginfi, and Kamino as named protocols to engage. Of note, however, is that the Switchboard airdrop remains “severely underfarmed.”

Stabble: Revolutionizing Liquidity

Advertising as Solana’s first frictionless liquidity and trading layer, Stabble reserved a significant allocation for its STB airdrop. To be eligible to receive the airdrop, interested participants must be active users of the protocol, among other criteria.

Participants can earn points by executing swaps, depositing liquidity, or creating and managing pools. The more points one earns, the larger their airdrop, with the first season starting with the mainnet launch and ending with the TGE. Meanwhile, the project introduced methods to boost points earned.

“Users will need to spend significant time on the Stabble platform, have a strong understanding of DeFi, and be willing to provide in-depth feedback on features, UI, and UX — offering suggestions for improvements as engaged users. Feedback will be delivered in a structured manner, with feedback forms and accompanying loom/screen recordings where required,” Stabble detailed.

Kamino Finance: Concentrated Liquidity Layer

Another crypto airdrop on Solana is Kamino Finance. It offers lending and borrowing while providing access to a whole slew of vaults, effectively delivering multiple DeFi strategies.

Kamino has publicly confirmed its rumored airdrops and tokens. The simple premise is that users earn points by using Kamino products. As soon as season three of the airdrop goes live, the points will be converted into KMNO tokens.

“In Season 3, earn KMNO by using their platform — Multiply, Vaults, Lending, Borrowing, Long/Short,” said Jussy.Sol.

For reference, Season 2 distributed 3.5% of Kamino’s total token supply, 350 million KMNO tokens, which were worth around $13.5 million over four months. Season 3 started on August 1. The estimated total points at the end of Season 3 would be around 674 billion, representing a 36.1% increase compared to Season 2.

Dawn: Delivering Internet Service

Through the Dawn protocol and hardware, property owners or residents can buy and sell Internet capacity in the area around them. While the project empowers users to operate as their own Internet provider, Dawn Airdrop remains unconfirmed, according to airdrops.io.

Nevertheless, users receive free reward points by installing DAWN’s validator extension and participating as a validator node. Participants must also refer 30 to 40 users and follow DAWN on X, Discord, and Telegram. Earned points can later be converted to an airdrop.

“In such Airdrops, those who have referrals win that’s why Dawn reached 1M users, so fast,” Jussy.Sol added.

Cube: Providing Next-Gen Multi-Chain Experience

Cube is committed to actively participating in the development of decentralized cross-chain protocols and Web 3.0 infrastructure. According to Jussy.Sol, Cube plans to launch both its token and the mainnet of the intent network in the second quarter of 2025.

Nevertheless, the researcher observes that the testnet task will debut imminently. Based on this, they urge users to hold their deposits and get “Loot Boxes” every Sunday. Moreover, participants can earn points by opening these boxes, with the points being directly proportional to the rewards.  Meanwhile, others like @Airdrop Guard on X say Cube is in line to win in the Solana ecosystem.

Solayer: Building Restaking Network Natively On Solana

Among the potential airdrops, Solayer is running a rewards system. While they do not have their own token yet, new registrations and deposits position users for the airdrop once the token debuts.

Meanwhile, Solayer has also rolled out its mainnet, allowing users to earn additional rewards. Participation requires meeting specific criteria, including depositing 10 native SOL tokens, joining epoch, referring depositors, and using all invite codes, among other requirements.

“Deposit amount, deposit duration, higher multipliers for native SOL deposits,” the researcher noted.

Flash Trade: Trading and Earning

Flash Trade presented its FAF token, which is expected to debut in the fourth quarter (Q4). Meanwhile, the Flash Trade airdrop is confirmed for Flash Trade NFT holders, although it remains unclear how much they will receive. Meanwhile, experts urge airdrop farmers to continue trading, open several positions, and deposit in Liquidity Pools.

The Vault: Aligning Financial Stakes with Social Stakes

Featuring among the confirmed airdrops, The Vault does not have its own token, but one could launch soon, offering an airdrop to users who collect points. This means users who collect points will be able to redeem their governance token once the token launches.

Read more: Best Upcoming Airdrops in 2024

The Vault airdrop was moved to 2025, extending the runway for interested airdrop farmers. Participation requirements include staking SOL or providing liquidity to the Saber SOL-vSOL pool and staking the LP tokens in the quarry to earn points. 

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

Celestia and GOAT investors turn to Poodlana to try and recoup losses

Published

on


Celestia and GOAT investors turn to Poodlana to try and recoup losses
  • Goatseus Maximus (GOAT) and Celestia (TIA) are facing significant price declines.
  • Poodlana (POODL) offers a low entry price of $0.003221, attracting new investors.
  • Poodlana raised $8 million in presale, indicating strong demand and growth potential.

In the volatile world of cryptocurrency, investors are constantly searching for opportunities to recover from losses and capitalize on emerging trends.

Recently, many have been looking toward Poodlana (POODL), a Solana-based meme coin that is gaining traction as established cryptocurrencies like Celestia (TIA) and Goatseus Maximus (GOAT) face challenges.

As these established coins face challenges, Poodlana offers an attractive alternative for investors hoping to regain their footing in the market.

GOAT and Celestia face challenges

Goatseus Maximus (GOAT), currently ranked at position 146 by market cap, has recently experienced a significant downturn.

Currently priced at $0.5368, GOAT has seen a decline of approximately 4.4% over the past 24 hours, exacerbating its losses, which now stand at nearly 30% over the past month. Following the price decline, investor confidence has waned, leaving many seeking alternative investments that might offer better potential returns.

Goatseus Maximus (GOAT)

On the other hand, Celestia (TIA) has also faced its share of difficulties. Priced at $4.63, TIA has seen a notable decrease of around 7.4% in the last day, following the unlock of 176 million TIA tokens, which raised concerns among investors.

Celestia (TIA)

The token unlock event not only triggered fear, uncertainty, and doubt (FUD) in the market but also led to a price drop of about 9%. Analysts suggest that the failure to maintain the critical support level of $4.506 could trigger further declines, with potential selling pressure looming due to the significant token supply now in circulation.

Taran Sabharwal, CEO of the Stix trading platform, has attempted to reassure investors by clarifying that not all unlocked tokens will be available for immediate sale, as there is a 21-day unstaking period. However, the sentiment remains cautious, with many investors anticipating further declines in the short term.

Both GOAT and TIA have thus left their investors on edge, leading many to explore new opportunities.

Poodlana emerges as a promising alternative

Amidst the uncertainty surrounding GOAT and Celestia, Poodlana (POODL) emerges as a beacon of hope for investors looking to recoup their losses.

As a Solana-based meme coin, Poodlana has captured the interest of many due to its low entry price of $0.003221, offering significant growth potential compared to the more established cryptocurrencies. Poodlana has already demonstrated promise by raising $8 million during its presale, indicating strong demand and interest among investors.

The allure of Poodlana lies not only in its price but also in the favourable macroeconomic conditions projected for 2024.

Analysts anticipate a lower interest rate environment in the coming months, which could enhance liquidity in the market, thus favouring altcoins like Poodlana. Historically, meme coins have thrived in similar conditions, and with its strong foundation, Poodlana is well-positioned to benefit from these trends.

Additionally, the upcoming US presidential elections may catalyze the cryptocurrency market. Both major candidates have expressed favourable attitudes toward cryptocurrencies, potentially leading to a more supportive regulatory environment.

This political backdrop, combined with Poodlana’s already solid standing as a project built on the fast and cost-effective Solana network, adds another layer of appeal.

Moreover, Poodlana has gained visibility by being listed on three major exchanges: MEXC, Raydium, and BingX. This accessibility provides a broader audience with the opportunity to invest and increases its growth potential, particularly for those who may have missed the early gains of other meme coins like Dogecoin and Shiba Inu.

Conclusion

As investors from GOAT and Celestia grapple with the recent market challenges, Poodlana stands out as a promising alternative.

With its low entry price, strong presale success, and favourable market conditions on the horizon, Poodlana (POODL) presents an attractive opportunity for those looking to recoup losses and capitalize on future growth.

If interested in POODL, you can visit the official Poodlana website for more information about the project.



Source link

Continue Reading

Market

Why Solana Volume Could Be Key In Driving SOL Price Higher

Published

on


Solana (SOL) volume has risen to a three-month high of $8.33 billion following reports that Donald Trump is set to be announced the winner of the November 5 US presidential elections. This development also comes with a notable 11% price increase for the altcoin within the last 24 hours.

Will this significant increase have a greater effect on SOL’s price? This on-chain analysis checks whether the cryptocurrency’s value may continue to increase.

Interest in Solana Spike During US Elections

According to Santiment data, on November 5, before the elections began, Solana’s on-chain volume was less than $3 billion. However, as of this writing, the metric has risen by over 150%, indicating a notable increase in interest in the cryptocurrency

This rise also coincides with BeInCrypto’s forecast that the US elections could positively impact the price. At press time, Solana’s price has hit $183.84. From a trading perspective, when a cryptocurrency’s price rises alongside the volume,  it means there is enough strength to buck the trend.

On the other hand, falling volume during an upswing suggests that the trend is weak and that the price can retrace. Thus, if Solana’s volume continues to rise alongside the price, then SOL could climb well above the current value.

Read more: How to Buy Solana (SOL) and Everything You Need to Know

Solana volume rises
Solana Volume. Source: Santiment

Besides trading volume, Solana’s Open Interest (OI) has also seen a significant uptick. Currently, the OI stands at $2.51 billion, marking its highest level since October 30. High OI is often a signal of strong momentum behind the current market trend, whether bullish or bearish. 

On the other hand, a low OI indicates that fewer traders are actively involved in the market. Therefore, this increased OI reinforces the underlying price direction and makes it likely that the current trend will continue.

Solana open interest rises
Solana Open Interest. Source: Santiment

SOL Price Performance: Rally to Move Closer to $260

On the daily chart, Solana has formed a bullish flag pattern, a continuation setup that typically signals further upward movement after a brief consolidation. This pattern emerges when a strong upward price movement, or “flagpole,” is followed by a period of sideways or slightly downward action, forming a “flag” shape.

Following the bullish flag formation, SOL experienced a breakout above the flag’s upper trendline, which led to a notable rally. Should this trend remain the same, SOL’s price might break above the overhead resistance at $193.90.

Read more: Solana (SOL) Price Prediction 2024/2025/2030

Solana price analysis
Solana Daily Analysis. Source: TradingView

If that happens, the altcoin’s value could move much closer to the all-time high of $260. On the contrary,  a decline below the $161.81 support and Solana’s volume might invalidate this thesis. In that scenario, SOL’s value could drop to $141.98.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io