Avalanche, Polygon and Shiba Inu – European Wrap 22 Wrap

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AVAX price shows impressive recovery over the past week as it has flipped multiple vital resistance barriers into a foothold. This development sets the stage for further gains that could push Avalanche to its all-time high and beyond.

 

AVAX/USDT 4-hour chart

MATIC price created a ceiling at a crucial level and has been in a downtrend ever since. The recent bounce established a local top, but investors can expect a minor retracement toward a support confluence to trigger massive buying pressure.

 

MATIC/USDT 6-hour chart

Shiba Inu (SHIB) price sees bulls picking up the short backslide from Monday when bulls let bears run price action back below the red descending trend line. Today a shift in sentiment is rolling through markets, with the stock market showing broad gains across the board and across several time zones. With the Relative Strength Index (RSI) ticking higher again, the best signal bulls could deliver to markets would be a daily close above the 55-day Simple Moving Average (SMA) which would mean over 10% gains for the trading week.

SHIB/USD daily chart

 

 

 

 



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