Bitcoin, Shiba Inu and VeChain – European Wrap 22 November

Bitcoin price saw a momentary upswing after its initial downswing on November 18. This quick run-up failed to gather steam, leading to rejection and a retracement. This short-term bearish outlook translated to Ethereum, Ripple and other altcoins.

 

Shiba Inu (SHIB) price has been on a downward trajectory since the end of October. Following the  break below the base at $0.00004465, however, bulls quickly began picking up SHIB price and making a fade-in between the low at $0.00004465 and $0.00005000. With bulls sitting on their hands as they bought into Shiba Inu price action, expect an initial phase where bulls ramp-up price action towards $0.00005500, before hitting $0.00008800 in a few weeks time.

SHIB/USD daily chart

VeChain price failed to hold above a stable support level, leading to a steep correction. This downswing is fast approaching the midpoint of the trading range and will decide the next course of action for VET.

 

VET/USDT 12-hour chart

 

 

 

 


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