Much of the cryptocurrency market is starting to recover from the recent bearish wave. Leading altcoin Ethereum and popular meme coin Shiba Inu (SHIB) are no exception. However, it remains unclear how long this situation will continue. Investors are wondering how the tokens will fare in May after the volatile April. So, we looked at artificial intelligence’s ETH and SHIB coin predictions for the end of May.
Artificial intelligence predicts SHIB Coin price for May 31
Shiba Inu (SHIB Coin) experienced a significant decline on May 1, falling to $0.000020. However, today it started to rise again and reached $0.000023. However, it is still in the red zone by over 8% on its weekly chart. Despite this recent fluctuation, the Shiba Inu has shown a remarkable 133% year-over-year growth. Thus, it outperformed 69% of the top 100 cryptocurrencies in the same period.
Recent market dynamics have placed SHIB above its 200-day simple moving average, an indicator that often signals underlying strength amid short-term volatility. In addition, only 13 of the last 30 days have been positive for SHIB Coin. This accounts for 43% of the transaction period. But the coin’s performance over the past year shows resilience in a broader perspective. PricePredictions’ AI-based price prediction algorithms predict a price of $0.000019 for SHIB Coin by the end of May. This forecast reflects ongoing pressure. It also represents a drop of around 17% from its current price.
SHIB Coin price prediction from popular analyst
Popular crypto analyst Ali Martinez spotted a bullish pattern forming on SHIB’s trading charts. Martinez notes that Shiba Inu is potentially developing a bull flag pattern on its daily chart. This pattern is a classic continuation pattern that signifies a period of consolidation following a strong price increase, potentially leading to another uptrend. Martinez placed buy orders around $0.000018343, waiting for a breakout that could push the SHIB Coin price to $0.000072323. This target indicates significant upside potential that, if realized, would quintuple its current price.
Artificial intelligence predicts ETH price for May 31
cryptokoin.comAs you follow from , Ethereum fell sharply during Wednesday’s selling wave. Now, it is slowly moving towards reclaiming the $3,000 level it lost earlier this week. However, despite these positive signs for Ethereum, PricePredictions does not predict that ETH price problems will end at the end of this month. Artificial intelligence predicts that Ethereum price will drop to $2,534.25 by May 31. This means a decrease of approximately 16% from its current level.
Ethereum price analysis
Currently, Ethereum is changing hands at a price of $2,993.07. This indicates an increase of 3.57% in the last 24 hours. However, according to the latest data, it lost 3.80% in value in the previous seven days. Additionally, the token has experienced a decline of 10.78% in the past month. Meanwhile, popular analyst Ali Martinez identified positive signals for Ethereum. The analyst highlighted that April 29 was the most successful day for the growth of his network in more than a year, registering 139,560 new ETH addresses.
As Martinez mentioned earlier, Ethereum is facing a strong resistance level at $3,200. This level emerges as a significant barrier, in part due to the significant presence of approximately 2.34 million addresses that collectively own 5.14 million ETH purchased at this average price.
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