Kriptokoin.com, in this article, we focus on the details of crypto analyst Jonathan Morgan’s predictions about SHIB, DOGE and AVAX. According to the analyst, Dogecoin is uncomfortably close to a level that could push DOGE to $0.09. The Shiba Inu appears to have completed its strong bearish warning pattern. Avalance, on the other hand, risks returning to $57.
These levels are expected for DOGE
Dogecoin continues to drop with little support or interest in the market. DOGE has been in a downtrend for more than 300 days. Dogecoin price action has surpassed the 300-day downtrend from its all-time high on May 8, 2021. Cyclically, DOGE can reverse at any time, but buyers need to show any interest in DOGE. Dogecoin price continues to fluctuate above and below the lower trendline of the previous ascending wedge pattern. Dogecoin price completed a key cyclical event between February 28, 2022 and March 1, 2022, marking a close bullish turn. The cycle is based on the time Dogecoin spends in a downtrend compared to the time and price range that DOGE did while running to an all-time high. Above
Dogecoin price, a large cluster of Fibonacci and Ichimoku resistances has spread between the $0.145 and $0.175 value areas. Therefore, if the bulls want to confirm a time and price action that will initiate a new bull run, then the bulls must close the DOGE at or above $0.175 on the daily chart. From there, DOGE will have an easier time moving lower with $0.25 as the primary target. Downside risks remain significant. DOGE could collapse towards the $0.09 value area very easily (and without warning) in the current price range due to almost non-existent trading volume between $0.12 and $0.09.
SHIB issues bearish warning
Shiba Inu has completed its strong fall warning pattern, SHIB can push new lows. Surprisingly, SHIB triggered a hypothetical long entry previously identified last week. Downside risks remain significant and could be at the extremes. Shiba Inu price action has achieved the Ideal Bearish Ichimoku Breakthrough on Friday’s closing daily Ichimoku chart. This is the first time since November 22, 2021 that a downward trend is seen. So far, the bears have not followed any sustained movement in selling pressure. News of a temporary ceasefire in Ukraine could soon contribute to the return of a positive risk perception.
Shiba Inu price risks creating new 2022 lows and goes as low as $0.00001200. Shiba Inu price action is now overwhelmingly bearish. On Monday, there was hope for SHIBA to be positioned for the Ideal Taurus Ichimoku Breakout. The threshold to complete most Ichimoku entries has dropped significantly from previous weeks, but the bulls have been unable or unwilling to take advantage of the new positioning. Instead, the bulls saw the Shiba Inu price decline in the $0.00002800 to $0.00002850 value area on Kijun-Sen and the top of the Ichimoku Cloud. Friday’s close confirmed the Ideal Bearish Ichimoku Breakout, which put SHIB in its lowest position since November 2021.
Forecasts for AVAX arrived
Avalance is at risk of returning to $57, AVAX may print new 2022 lows. An extreme bearish signal might entice short sellers to pull Avalanche down over the weekend. The upside potential is limited, the downside risks are large. AVAX price is stuck in the Ichimoku Cloud, a state it has been in since February 24, 2022. Market participants initially expected a strong uptrend on the Cloud after Monday’s bullish price action, but was rejected against the top of the Ichimoku Cloud (Senkou). AVAX price may trigger a strong short signal that can lower Avalance by around 30%. AVAX price action this week can be summed up in one word: whip.
Selling pressure pushed AVAX price below two more support levels: Tenkan-Sen and Kijun-Sen. However, neither level provided any support as prices moved lower. Now, the last level of support is the low of the Ichimoku Cloud (Senkou Span A) at $74. If AVAX price closes below the Ichimoku Cloud at $74 or below on Saturday or Sunday, the Ideal Bearish Ichimoku Breakout entry will be confirmed and the bears will definitely take control and push AVAX price to the 38.2% Fibonacci retracement at $57.
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