Cardano, Shiba Inu & Axie Infinty — Asian Wrap 06 Aug
Cardano price strikes a new rally attempt, may finally solve the ADA riddle
Cardano price fell -4.66% in July and failed to close above the 2018 high of $1.40. Due to the active head-and-shoulders pattern and the resilience of the 2018 high, the ADA outlook is still mixed. However, the emergence of a symmetrical triangle breakout combined with a Golden Cross on the six-chart improves the opportunity for a daily close above $1.50 and a transition from rally to advance.
Shiba Inu price continues balancing act, as SHIB nears a dramatic move
Shiba Inu price has failed to resolve the depressingly tight price action or the descending parallel channel, testing SHIB investor patience and the durability of the May 19 low support. The building contraction in price, verified by the tightening of the Bollinger Bands, indicates that the digital token is preparing for a sharp move that may resolve the channel pattern and establish a new, definitive trend.
AXS Price Prediction: Axie Infinity will soon begin a rally to $128
AXS price fell 13.91% last week after climbing 135.49% the previous week, demonstrating limited interest in the Axie Infinity investor ranks to capture profits. The resulting corrective process may have formed a low this week, with Axie Infinity triggering a double bottom pattern on the six-hour chart.