SHIBA INU COIN & DOGECOIN Daily Trend Analysis
Shiba Inu coin & Dogecoin are the top dogs of meme coins. By comparing their price to their Exponential Moving Averages(EMAs) we can find their current trends.
We compare SHIB and DOGE prices every day with their short-term and long-term exponential moving averages.
Selected EMAs are 8,21,48,100,200 and we compare the selected EMAs with SHIB and DOGE prices for finding the general trend.
Identifying The Crypto Trend
When the SHIB price trades below the short-term exponential moving averages(8,21,48) we interpret that the SHIBA INU COIN price is performing worse than before and the short-term trend is getting worse(Bearish).
If it trades below EMA 100 or EMA 200(longer ema time frames) we can say we are in a bearish market.
On the other hand, if it trades above its all EMA(8,21,48,100,200) we can say we are in an extreme bull run and the current trend for cryptos is bullish.
If it only trades above the short-term EMA(8,21) but under the long-term exponential moving averages(100,200), we can realize that the short-term outlook for Shiba Inu is getting bullish. however, we might be still in a downtrend as a bigger main trend, so it might be the correction of a downtrend or trend reversal point.
- Technically speaking EMA 48,100,200 play a key role in identifying the trend for every security. however, the ema length you choose for trend detection completely depends on your strategy and trading plan.
Please note in the crypto trends analysis:
The shorter the time frames the more noise and false signals are being given, but with more sensitivity.
The longer the time frame, the more reliable the signals being given, but with less sensitivity.
So we face more false signals and noise dealing with With EMA 8 rather than EMA 200.
Check out Exponential Moving Averages cross-overs for the top coins