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Get ready for these short-term levels!

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Shiba Inu (SHIB) price has broken the consolidation triangle and is preparing to rise. Dogecoin, on the other hand, shows that the 8- and 21-day simple moving averages are compressed below the current market value. Analyst Tony Montpeirous determines the short-term levels to take to take a stand on meme coins in this environment.

SHIB price ideal for the final shoot?

The Shiba Inu price is showing a region-focused pattern of $ 0.00001700 on the 3-hour bullish chart. However, there is a possibility that the triangle is incomplete. Traders who follow the Elliot Wave theory will confirm that contracted triangles can be difficult to trade. Triangles are known to investors capturing opportunity costs and continuing their usual sideways action on prices. When you think you have noticed a breakout, the breakout consolidates and you have to sit on the sidelines with a losing position.

However, hesitation to break a triangle also results in missed opportunities. This is because the triangle breaks become very volatile on take off. Therefore, an entry at the current SHIB price of $ 0.00001138 makes sense. According to the analyst, the SHIB price will see an impulsive increase of 50% in the next few days.

World-renowned Elliot Wave practitioner Constance Brown once said, “Placing an override under the A-wave of a triangle is a safer bet.” Instead, traders can hope that these bullish signals observed for the Shiba Inu price are real and take a cautious risk.

Ideal levels for SHIB

The invalidation of the bullish thesis is Wave A found at $ 0.000000925. This setup will be a loss if the $ 0.00000925 level is breached. The bears are likely to take over. They will then aim for $ 0.00000800. This will result in a 27% reduction from the current Shiba Inu price.

Is Dogecoin’s Price Too Good To Be True?

Dogecoin’s price is heading towards $ 0.12 in the near future. Investors familiar with the popular meme coin are used to the demonstrations of Dogecoin’s big brother. The techniques suggest that the price of the DOGE will rise. But it is still difficult to detect whether there is a definitive fund.

The price of DOGE is currently trading at $ 0.07. This is because the bulls have resumed the 8- and 21-day simple moving averages. Meanwhile, SMAs frozen below the current market value are a positive sign. According to the analyst, it could be the catalyst that triggers the bull run expected in the coming days.

In terms of the risk of reward, entering $ 0.07 yields approximately three times the returns compared to more traditional positions. This means buying the breakout at $ 0.078. However, investors should be aware of the possibilities of a targeted cash hunt in the $ 0.05 area. Thus invalidating the uptrend remains at $ 0.04914. However, risk averse traders can make an early entry with a tighter invalidation level at $ 0.06162. If $ 0.6162 is broken, the $ 0.05 zone will be an ideal entry level.

However, on a breakout of $ 0.04914, investors should close their positions immediately as the price of DOGE could drop as low as $ 0.02.

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