Shiba Inu, Cardano & Ethereum — Asian Wrap 31 May

Shiba Inu positioned at the apex, as SHIB awaits a trigger

Shiba Inu price stabilization at the apex level of a symmetrical triangle is a bullish development for the briefly traded SHIB. Still, the digital asset may require a catalyst, external or organic, to facilitate a range expansion that overcomes resistance at the 10-day SMA.

 

Cardano Price Forecast: ADA begins quest for a new all-time high after 15% spike

Cardano price gain of 15% lifts ADA above the 2018 high and 50-day simple moving average (SMA). ADA on pace to close May with a double-digit gain, despite the crash and resulting volatility. Weekly close above 61.8% Fibonacci retracement level turns the tables on the bearish narrative.

 
Ethereum Price Analysis: ETH at a crossroads as red flags emerge

Ethereum price is struggling to recover the relative strength that dominated the April-May period, as the response to last week’s 41.44% decline has been muted. Until ETH can motivate sustainable price traction above the 50-day SMA and the double bottom trigger, the smart contract giant will be dominated by bewildered price action.