Cardano, XRP, and Shiba Inu Price Analysis February 4, 2022

With the Bitcoin fear and greed index at 20, investors are in extreme fear. This could lead to a strong panic sell, thereby resulting in a more bearish market for altcoins like Cardano (ADA), XRP, and Shiba Inu (SHIB)? 

Cardano (ADA)

The reversal from the $1.626-mark led ADA bears to test the $1.069-level multiple times over the past few days. ADA fell by 20.41% in the past 30 days making to attain a 90-day low price of $0.9334 on January 22^nd.

Hence, ADA fell below its EMA ribbons and even lost its important resistance at $1.277. Since then, the EMA ribbons are widely at the end, it shows that this bearish trend and possible reversal would not be possible soon in the 1day chart.

At the time of writing, Cardano (ADA) is trading at $1.07 and a 24-hour increase in price by 2.69%. The relative strength index value of ADA is at 44.12 and pushing up, which means that it is moving away from the region of neutral to the above 50 mark which would indicate a strong trend.

XRP (XRP)

The recent reversal from the $1.0110-mark led XRP bears to test the $0.6154-level multiple times over the past few days.  XRP fell by 26.93% in the past 30 days making to attain a 30-day low price of $0.5587 on January 24^th.

Hence, XRP fell below its EMA ribbons and even lost its important resistance at $0.7058. Since then, the EMA ribbons are widely at the end, it shows that this bearish trend and possible reversal would not be possible soon in the 1day chart.

At the time of writing, XRP is trading at $0.6178 and a 24-hour increase in price by 2.12%. The relative strength index value of XRP is at 37.45 and pushing up, which means that it is moving away from the region of oversold at 30 to a possible neutral indicator and then to a strong trend at above 50.

Shiba Inu (SHIB)

The reversal from the $0.00003228-mark led SHIB bears to test the $0.00001989-level multiple times over the past few days.  SHIB fell by 36.78% in the past 30 days making to attain a 30-day low price of $0.00001744 on January 22^nd.

Hence, Shiba (SHIB) fell below its EMA ribbons and even lost its important resistance at $0.00002624. Since then, the EMA ribbons are widely at the end, it shows that this bearish trend and possible reversal would not be possible soon in the 1day chart.

At the time of writing, SHIB is trading at $0.00002096 and a 24-hour increase in price by 1.41%. The relative strength index value of XRP is at 34.14 which indicates that it is at a region of neutral or consolidation.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.