Help with technical analysis for beginners
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in General Trading Strategy Discussion
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By Cryptowarrior · Posted
Shiba Inu (SHIB) experienced an extraordinary surge in January 2021, skyrocketing by 45,131%. Despite its fall from an all-time high of $0.00008845 in October 2021, data from Coinpedia Markets shows SHIB is still up by a staggering 1,028,241% from its launch price in August 2020. As of Writing Shiba Inu was trading at 0.00001308 With 1.21% Loss in the Last 24 Hours In recent months, Shiba Inu, like many other cryptocurrencies, has been in bearish territory. However, this hasn’t dampened investor enthusiasm. According to CoinMarketCap, 80% of Shiba Inu community members remain bullish on the token’s future. Positive Sentiment and Breakout Predictions Shiba Inu’s community remains optimistic, with several analysts predicting an imminent breakout. One analyst noted the contraction of SHIB’s Bollinger Bands as a signal of potential price movement. Trader Dexter recently forecasted that Shiba Inu could reach a price of $0.00015, sparking further interest in the token. Potential Returns on Shiba Inu Investment Although some argue that SHIB may not replicate its 2021 rally, even a fraction of that growth could result in substantial gains. Let’s break down potential returns from an investment of $1,000 at different growth rates. At SHIB’s current price of $0.0000138, a $1,000 investment would buy 72,463,768 tokens. If SHIB rises by 1,000%, the price would jump to $0.0001518, turning a $1,000 investment into $11,000. A 10,000% increase would take SHIB’s price to $0.001393, yielding $100,999 on a $1,000 investment. Shiba Inu may have seen ups and downs, but its community remains optimistic about its future. With potential breakouts on the horizon and the possibility of significant returns, SHIB continues to be a token worth watching in the crypto market. -
By CryptoChamp · Posted
Over the past year and a half, Tron (TRX) has shown impressive growth, with its value increasing by 80% despite some market corrections. Here’s a quick breakdown of Tron’s price action and recent developments: Price Movement: TRX reached a high of $0.17 last month before retracing by 8%, finding support at $0.147. After some fluctuation, it currently sits in the $0.15 range, showing signs of a positive trend. Bullish Indicators: This week, TRX has posted gains, with increased trading volatility signaling a potential rebound. The daily chart suggests a “buy” signal, indicating a bullish impulsive phase may be starting. If this momentum continues, Tron coin could rise to $0.20 in the next few days. Stable Growth: Despite market ups and downs, Tron has been relatively steady, thanks to its strong DeFi ecosystem, efficient DApps, and fast transaction times. These factors help TRX remain competitive, even as new players enter the market. Justin Sun Challenges Coinbase Over PoR Tron’s founder, Justin Sun, has been vocal in his criticism of Coinbase’s approach to Proof-of-Reserve (PoR). Here's what's happening: PoR Debate: Sun expressed confusion over Coinbase’s refusal to adopt PoR, especially after the exchange launched its cbBTC product. Sun pointed out that major exchanges like Binance have embraced PoR, questioning why Coinbase considers it “unfeasible.” Transparency Concerns: Sun emphasized that the crypto community isn’t asking for perfection but simply for more transparency. He believes that revealing wallet addresses is a simple task that can foster trust within the industry, especially in the wake of the FTX collapse. Trust Issues: Sun also raised concerns about relying solely on audit firms for security, stating that being a public company doesn’t guarantee protection from bankruptcy. He mentioned the collapse of Signature Bank as an example, highlighting the need for self-regulation in the crypto space. Tron’s Long-Term Potential Looking ahead, Tron continues to show promise as a long-term investment. Its strong developer base and wide range of applications, from games to entertainment, make it an attractive option in the competitive cryptocurrency landscape. With Justin Sun pushing for more transparency and the continued development of Tron’s ecosystem, TRX remains one of the few cryptocurrencies trading steadily and positioned for future growth. -
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