A crypto strategist and trader closely followed by the crypto community, meme coin Shiba Inu (SHIB) He says he looks poised to hit an all-time high and predicts an epic rally for XRP.
In a recent strategy session, analyst Scott Melker told 110,000 YouTube subscribers that the Shiba Inu has been on the rise in recent weeks. dogecoin (DOGE) said it was bullish after breaking a diagonal resistance that kept its opponent in a downtrend.
“I bought this because it had a breakout on the chart and I think it could hit the highs again… This thing has a ton of volume. This four-hour candle is the largest of several days and is exploding. This is great. This is great. Here is my target ($0.00089).”
SHIB, one of the most popular meme coins at the time of writing, is trading at $0.000052.
The crypto strategist also said that he has broken the cross resistance and is retesting this resistance as support. XRPHe also watches closely.
According to Melker’s chart, XRP is poised to rise to $1.96, and this price action also points to a potential gain of over 65% from its current value of $1.18 at the time of writing.
As for Bitcoin, Melker says the leading cryptocurrency is in a bearish trend as the relative strength indicator (RSI), which tracks an asset’s momentum, is showing signs of weakness.
“This place looks a bit peaky. We have the right downtrend. Daily [grafik] basis, there is a downward trend. This often occurs, especially when experiencing excessive intake.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.