A closely followed crypto trader, Scott Melker, says that the meme coin Shiba Inu (SHIB) looks poised to hit an all-time high, predicting an epic rally for Ripple (XRP). we have Cryptocoin. com compiled a summary of Melker’s analyzes. We start with SHIB…
Shiba Inu (SHIB) price predictions
Scott Melker said in a recent Youtube post that the Shiba Inu has been on the rise after receiving a diagonal resistance that held it to the downside over the past few weeks. According to the analyst, there is a zone close to ATH levels in SHIB. 0. 00089 dollars can be targeted:
I bought it because it’s blowing up on the chart and I think it might hit the highs again… SHIB has a ton of volume. We see that this four-hour candle is the largest of several days and has burst. Here is my target ($0.00089).
Scott Melker, Bitcoin and Ripple price predictions
The crypto strategist is also closely watching the open-source cryptocurrency XRP, which he says has eliminated cross resistance and is retesting as support. According to Melker’s chart, Ripple (XRP) is poised to rise to $1.96, indicating potential gains of over 64% from its current value of $1.19.
As for Bitcoin (BTC), Melker says the leading cryptocurrency is bearish as the relative strength indicator (RSI), which tracks the momentum of a crypto, is showing signs of weakness:
It looks like he can’t get any further from here. We have a correct bearish divergence. A bearish trend on the daily chart. This usually occurs especially when it comes from overbought.