Dogecoin, Shiba Inu & Chainlink — Asian Wrap 29 July

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Dogecoin price action raises more questions than answers, while DOGE threatens a decline

Dogecoin price rebound remains unvalidated as the cryptocurrency fails to register one close above the midline of an ascending parallel channel since the July 21 breakout. Without greater conviction, DOGE is not positioned for notably higher prices, and maybe the eight-day rebound is just a resting place before the correction resumes. The 200-day SMA is the new line of defense as the digital token moves in an ascending parallel channel.

 

Shiba Inu Price Prediction: SHIB is dead money below $0.00000733

Shiba Inu price was presented with an opportunity on July 21 as it released from a minor parallel channel and the cryptocurrency complex initiated a new rebound that has taken on an impulsive personality. Instead, SHIB has drifted sideways and currently trades below the July 21 close of $0.00000654. The inability of SHIB to generate any price strength indicates a reluctance to traffic in the higher-risk cryptocurrencies in an environment in which fear of missing out (FOMO) has not yet reappeared.

 

Chainlink price needs to break this level for LINK to target $28

A brief technical and on-chain analysis on Chainlink price. Here, FXStreet’s analysts evaluate where LINK could be heading next as it tries to slice through crucial resistance.

 



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