Rekt Capital, which came to the fore with its correct prediction of the last correction in the Bitcoin price, Shiba Inu He made an estimate for the price. SHIB may be repeating a pattern seen during the 2021 bull market, analyst says stated.
Rekt Capital elaborated on its prediction by stating that SHIB is in the process of retesting the weekly support level at $0.0000279. According to the analyst, this level was tested before the rise to the all-time high of $0.0000861 and a major uptrend had begun.
“SHIB eventually reached blue resistance but was rejected from there. In late 2021, the Shiba Inu price also failed to break the blue resistance in its first attempt.
In fact, rejection of blue resistance in late 2021 forces SHIB to retest the orange level as new support before confirming further upside. Currently, SHIB is in the process of testing the orange level once again.
Could history be repeating itself?
Analyst then smart contract platform solanaHe stated that (SOL) has turned the $175 resistance into support and is getting better.
Commenting on Shiba Inu rival Dogecoin, Rekt Capital said: meme coinHe noted that it could form a bullish continuation pattern on the weekly chart after breaking through a multi-month diagonal resistance.
“Dogecoin has once again tested the macro downtrend perfectly and has rebounded +38% since the new macro uptrend was fully confirmed.
“If Dogecoin continues to maintain these highs, it could develop a bull flag here.”
