Shiba Inu saw impressive gains after breaking its trendline resistance, but still struggled to topple its long-term 23.6% Fibonacci resistance. Rather, Binance Coin and Avalanche continued their up-channel oscillation as they witnessed the bulls-bears clash at crucial price points.
Shiba Inu (SHIB)
After the alt hit its three-month low on Jan. 22, the buyer traded in at $0.000018. Since then, SHIB bulls have started a recovery and breached the crucial trendline resistance (white).
The meme coin saw a symmetrical triangle (yellow) break out on the 4-hour chart on Feb. 4. For example, the bulls tested 23.6% Fibonacci resistance after an astonishing ROI of 75.5% (low as of Feb. 4). Now the buyers faced a $0.000029 barrier. Any failure would find test support near the $0.000027 mark.
At the time of writing, SHIB was trading at $0.0000291. After an exponential rise towards the overbought area, RSI descended below the midline in a down-channel (white). Any breakout with a pattern would increase the chances of regaining the 50 mark. Although the DMI lines flashed a bearish bias, the ADX showed a weak directional trend for SHIB.
Binance Coin (BNB)
As BNB broke the vital USD 512 mark, it witnessed two substantial sell-offs. As a result, BNB hit its 16-week low on January 24.
Bulls, however, started a recovery as the alt saw a 32.5% ROI and spiked the $445 mark. Meanwhile, the alt formed a bullish channel (green) on its 4-hour chart. Now the immediate resistance was near $414. On the downside, a drop from this level would find test support near the lower trendline.
As of going to press, the BNB was trading at $403.7. The RSI grew rapidly after breaking the 11-day rectangle crest (yellow). After testing the overbought area twice, it fell below the midline and has shown a bearish bias for the past few days. Nevertheless, the CMF still managed to find a close above the zero line showing that the bulls have not declined yet.
The double bottom breakout on the 4-hour chart failed to breach the month-long resistance at $96.49. AVAX saw a 54.8% retracement (since January 2), hitting its 14-week low on January 22.
Since then, the alt posted an exceptional 78.4% gain when it punched the $95 mark on Feb. 8. For the past two days it fell under all his EMA ribbons to test the $79 support. Now the bulls were trying to reclaim the 20 EMA support.
At the time of going to press, the AVAX was trading at $83.08. Since the symmetric triangle (white) breakdown, the RSI tested the 39-point support for a slight recovery. It still swung sideways, in favor of the bears. however, the MACD histogram showed improvement as it approached the half line. But the lines still struggled to find a bullish crossover.
This post Shiba Inu, Binance Coin, Avalanche Price Analysis: Feb 13
was published first on https://ambcrypto.com/shiba-inu-binance-coin-avalanche-price-analysis-13-february/