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The crypto market has declined in the last ten days and seems to be on course to register a second successive weekly loss. In addition, the crypto market capitalisation has declined from $2.3 trillion to $2.13 trillion as of this writing. The market-wide decline is attributable to the geopolitical tension in the Middle East, which has seen many investors reduce their exposure to risky assets. However, Bitcoin, SUI and Shiba Inu prices are among the top crypto assets that have flashed signs of potential breakout.
Bitcoin
The crypto market bellwether was rejected at the psychological $65k mark last week, and another attempt this week only went as high as $64, 467. BTC price trades at $60,860 as of this writing, and investors will be wary of a breach below the $60k mark. At its current price, BTCUSD is below the 20 and 50 Exponential Moving Average (EMA) levels, potentially predisposing it to an extended decline.
Bitcoin price prediction
Bitcoin price pivots at 60,847, the buyers will be in control if BTCUSD stays above that mark. If that happens, the first barrier could be encountered at 61,150. However, extended bullishness could break above that mark to test 61,420.
On the other hand, the sellers will be in control if the price action stays below that mark. With the sellers in control, the first support could come at 60,425. However, extending the bearish control could break below that level to invalidate the upside narrative and test the next support at 60,035.
SUI
SUI coin price has had a strong uptrend since September and gained 92 percent in the last month. It came within 1 percent of its all-time high price ($2.18) this week but fell short as a wider crypto market contagion set in. The SUI development team implemented a number of upgrades that have provided strong support.
However, it currently trades above the 20,50,100 and 200 SMA levels on the daily chart. In addition, SUI coin price is above the Volume Weighted Moving Average (VWMA), adding credence to the bullish undercurrent. With the VWMA at $1.75, the bullish undercurrent could remain in play if SUIUSD stays above that level.
SUI price prediction
The momentum on SUI price favours the sellers below 1.795. With the downside momentum in play, the crypto asset could find the first support at 1.741. However, an extended bearish control could breach that mark and potentially take the price to the second support at 1.700.
Conversely, moving above 1.795 will signal bullish control. In that case, the first resistance could come at 1.840, but a stronger upward momentum could enable a break above that level to invalidate the downside narrative. Also, it could result in further gains to knock at the next barrier at 1.893.
Shiba Inu
Shiba Inu spiked on September 26 when it gained 22 percent in a single day. That has kept it in profit despite printing out more red candlesticks than green ones since then. SHIB price was up by 0.6 percent as of this writing, showing resilience in a largely seller-controlled market.
Shiba Inu price’s recent rally was triggered by speculation over a potential SHIB ETF listing. Such an occurrence could increase the meme coin’s exposure to a wider market and potentially drive up demand. However, the news has not been confirmed by the SHIB development team.
Meanwhile, Shiba Inu’s whale activity remains strong despite the current market decline. According to IntoTheBlock data, in the last week, SHIB transactions valued at $100k and above stand at $327 million. Also, 52 percent of the SHIB holders are in the money, compared to 45 percent who are out of it. This eases downward pressure on Shiba Inu price and could help strengthen the upward momentum.
Shiba Inu price prediction
The momentum on Shiba Inu price calls for further upside above 0.0000169. That will likely see the SHIBUSD pair head further up to encounter the first resistance at 0.0000171. However, if the buyers go above that barrier, it could strengthen the bulls to test 0.0000173.
Conversely, a move below 0.0000169 will favour the downside. In that case, the first support could come at 0.0000167. However, an extended bearish momentum could break below that level to invalidate the upside narrative. Meanwhile, the downside could extend to test the second support at 0.0000165.
