Serum (SRM) price prediction: With Looming Market Turbulence, is it Time to Focus on The Upward Trend of Shibie Coin?

Updated: 02 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Serum (SRM) price is trading at $0.08995 at 12 pm EST with a bullish bias after displaying an impressive surge on Tuesday.

SRM price spiked 31% from lows around $0.083 on August 1 to reach a high of $0.109.

It is not clear what sparked the sudden surge in the price of the decentralized exchange (DEX) token, but it appears ready for a sustained takeoff. Here are the key levels to watch for the Serum price.

Serum Price Must Hold Above 50 SMA To Secure Uptrend

At the time of writing, SRM was sitting on immediate support provided by the 50 simple moving average at the $0.090 psychological level. The appearance of the doji candlestick on the four-hour chart below suggested that there was a fierce fight going on between the bulls and the bears.

This was reinforced by the position of the relative strength index (RSI) 47, close to the midline, suggesting that the buying and selling pressure was balancing out.

The bulls are fighting to maintain the Serum price above the 50 SMA, while the bears are determined to flip it into resistance. If the bulls have their way, SRM price could produce a four-hour candlestick close above the 50-day SMA, with the next level to watch is the 100 SMA at $0.094.

Other key areas to watch are the $0.10 psychological level, the 200 SMA at $0.105, and the $0.109 swing high. Breaking these barriers could confirm a decisive bullish breakout for the DEX token bringing the $0.120 and $0.125 zone into the picture.

SRM/USD Four-hour Chart

Serum Price Chart - August 2 — TradingView Chart: SRM/USD

Conversely, the bears could carry the day if they ensure a four-hour candlestick close below the 50 SMA. Such a move could see the Serum price drop first toward the $0.086 support level and later revisit the $0.083 swing low.

A drop below this level would invalidate the positive narrative, with the Serum price dropping to record lower lows.

SRM Alternatives

Those seeking to place their long bets on Serum must wait for a decisive close above the 100 SMA or the $0.109 local high. However, there is no telling when this may take place.

Meanwhile, investors seeking to diversify their crypto portfolio could look into a new cryptocurrency in presale with a low risk-reward ratio and with the potential to make x10 returns on investments in 2023.

One such crypto is Shibie coin ($SHIBIE), a unique meme token that blends the Shiba Inu meme’s playful spirit with Barbie’s timeless style.

According to the project’s whitepaper, Shibie is not just a meme coin, but it is a “mission-driven Shiba Inu with a Barbie’s flair, living a chew-tactic “Life in Plastic.”

The team behind $SHIBIE launched the crypto’s presale on August 1 and set a target of raising $999,999 in 7 days. The presale has already raised $44,900 in less than 24 hours, attesting to the high investor interest in the meme token.

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— Shibie Coin | Presale Live (@ShibieCoin) August 1, 2023

The Shibie Coin presale presents an alluring opportunity for investors who wish to be part of this innovative project from its inception.

An impressive 60 billion $SHIBIE tokens, accounting for 60% of the total token supply, have been allocated for the presale, granting early adopters a distinctive chance to shape the project’s trajectory.

At the moment, $SHIBIE tokens can be acquired for $0.000167, and the hard cap for the presale is set at a mere $999,999 to expedite the token’s introduction to the open market.

Don’t miss an opportunity to be an early investor in this promising token. You can buy $SHIBIE tokens using Ethereum (ETH), Binance Coin (BNB) or Tether USD (USDT).

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