Shiba Inu and AVAX Price Rising: Buy or Sell or Hodl? – Crypto News

As the cryptocurrency market undergoes fluctuations, specific altcoins such as Shiba Inu (SHIB) and Avalanche (AVAX) have demonstrated significant rebounds in their values. Shiba Inu price has grown by 4.22% in the last day, whereas AVAX has risen by 3.02%. With these gains, investors are now considering whether to buy, sell, or hold on to these assets. Let’s explore how these popular cryptocurrencies are performing in the market and analyze their prices, in order to make an informed decision.

Shiba Inu vs AVAX Current Market Performance

Shiba Inu has increased in price by 5.10% in the past day, to trade today at $0.00001661. However, the past week and month have been challenging, with SHIB dropping in value by 2.74% and 27.99%, respectively.

The coin is right behind AVAX with a market cap of $9.77 billion, and an increased trading volume of $522.82 million, over the past 24 hours.

On the other hand, Avalanche is currently trading at $26.91, showing an increase of 4.05% in value over the past day. However, this follows a bearish trend, which saw AVAX decline in price by 9.64% and $26.88%, over the past week and month, respectively.

With an increased market cap of $10.6 billion, the token is ranked the 12th largest cryptocurrency, according to CoinMarketCap. The coin is also experiencing heightened trading activity with an increase of 41.70% in trading volume to reach $372.6 million, over the past 24 hours.

Shiba Inu vs AVAX : Price Analysis

Shiba Inu (SHIB) Analysis

The SHIB Relative Strength Index (RSI) stands at 43.40, indicating a neutral position with no overbought or oversold signals. This suggests that the token could be leveling out following recent fluctuations.

Whereas the 20-day EMA shows a sell signal, the 10-day EMA stands at a buy signal. Longer-term EMAs indicate selling signals, showing the overall bearish trend despite recent increases. Nonetheless, the MACD level shows a buy signal, indicating possible bullish momentum.

The pivot point is positioned at $0.00001996 in Fibonacci levels. At present, SHIB is below this pivot point, signaling approaching resistance. Important levels of support can be seen at $0.00001361 and $0.00000998, while resistance levels are present at $0.00002359 and $0.00002994.

With this arrangement, SHIB’s near future seems cautiously positive but remains negative in the long run.

Avalanche (AVAX) Analysis

The RSI for AVAX stands at 45.42, indicating a neutral position similar to that of SHIB. This indicates that the market is in a stable condition, with neither excessive buying nor selling, allowing for potential price changes.

AVAX also shows a conflicting picture when considering moving averages. A buy signal is shown by the 10-day EMA, whereas a sell signal is indicated by the 20-day EMA. Like SHIB, the extended EMAs also display sell signals, pointing towards a dominant downward trend.

The MACD level of -1.25 indicates a buy signal, suggesting a possible change in momentum towards the positive side.

The Fibonacci levels for AVAX indicate a pivot point of $30.01, with the current trading below this point, suggesting that there is resistance in the near future. The price is supported at $22.83 and $16.33, while facing resistance at $36.51 and $43.69. This configuration indicates that although AVAX has the potential to increase, it will need to overcome substantial resistance levels.

Conclusion

The technical indicators for both Shiba Inu and Avalanche show a combination of positive and negative signals. In the near future, the EMAs and MACD levels indicate possible bullish momentum for both coins. Nevertheless, caution is advised given the longer-term moving averages and neutral RSI levels.

1. Buy: If you are looking for quick profits or short-term gains and are willing to handle risk, buying at this moment could be a feasible choice. The recent price hikes and positive signals coming from short-term EMAs and MACD levels, could potential lead to further gains.

2. Sell: It may be wise for those who prefer safety or have significant holdings of SHIB or AVAX to sell.  Bearish signs from extended moving averages and resistance levels from Fibonacci analysis point towards possible pullbacks.

3. Hodl: Holding onto Shiba Inu and Avalanche despite the current volatility could be the best strategy if you have faith in their long-term potential. The coins may stabilize and potentially increase as the market recovers, as indicated by the neutral RSI and conflicting signals from moving averages.

In the end, your choice should be consistent with your investment plan, willingness to take risks, and outlook of the market.