Altcoins Drop Heavy as Crypto Market Crashes Ahead of New IPC Rates! first appeared on Coinpedia Fintech News
Markets appear to have been preparing to drop sharply before CPI rates sustain above 8%. While the fear among market participants is clearly seen as the bears are gaining control over the rally. However, Dogecoin and Shiba INU were within a consolidated range so far, but the next drop may hamper prices greatly.
Dogecoin (DOGE) Price Analysis
Dogecoin price broke through the fundamental trend line that it held since it rebounded from the June lows. Broad bearish pressure can certainly drag the price close to yearly highs, however the possibility of a reversal may not be ruled out. The RSI continues. remain above the trendline and thus a bounce off these levels may prevent DOGE price from falling below $0.05 As bearish clouds have surrounded the markets, dogecoin price is expected to remain consolidated until the end of 2022
Shiba INU (SHIB) Price Analysis
Shiba INU price is testing crucial support levels after a drop below $0.00001 and thus is expected to bottom out quickly. The RSI has been falling from overbought levels and is currently about to enter the oversold area. However, volume has dropped noticeably as market participants may require to wait a bit longer for a bounce In the coming days SHIB price may turn around and regain lost levels above $0.00001 but could remain consolidated below $0.00002 until the end of 2022
This post Altcoins Drop Heavy as Crypto Market Crashes Ahead of New IPC Rates!
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