Bitcoin Nears Major Resistance While Shiba Inu Awaits for a Massive Rise Ahead

The post Bitcoin Nears Major Resistance While Shiba Inu Awaits for a Massive Rise Ahead appeared first on Coinpedia Fintech News

The crypto markets received a minor push in the early trading hours, which raised the BTC price back above $27,000 in very little time. The rise in the value of Bitcoin compelled the other altcoins to maintain a notable upswing that has been rising significantly. Tokens like Ethereum, XRP, etc. have maintained enough strength, while, cryptos like Shiba Inu are preparing to undergo a breakout. 

Bitcoin Tests Major Resistance

After the recent price action, the BTC price has approached close to the major daily resistance. Currently, the price may encounter a couple of major resistance levels in the coming days. The first is around $28,000 and is located at 0.6% FIB levels; it sustains well, and a notable rise towards the next target at $28,800 may be expected. However, a notable plunge from the resistance zone may be expected, represented by the red arrows in the above chart. 

Major Surge Awaits Shiba Inu Price

The Shiba Inu price has been consolidating within a very narrow range for nearly a week after undergoing a significant plunge in the first few days of May. However, the price is approaching the major daily support and also the daily lows.

But a rebound is expected to trigger around these support levels towards the targets at the resistance mentioned in the above chart. The first resistance could be around $0.000012, while the next target could be close to $0.00002 after surpassing $0.000015 levels.