The key area of support has held and the SHIB bulls have enough confidence to come back into play and propel the price higher.
In our final analysis, the big question is whether SHIB can hold the critical support at $0.000028. The answer was yes, and the cryptocurrency has since gone up by more than 10%.
Source: TradingView
Volume: Trading volume continues to decrease regardless of the current price action. This is a bit concerning as it calls into question the strength of the rally.
RSI: The daily RSI is rising again and it is currently at 60 after making a higher low. This confirms that the price action is bullish.
MACD: The daily MACD is in positive territory and is likely to remain so for the rest of the week as long as the price does not break below the critical support.
Source: TradingView
SHIB’s current trend is bullish.
Short term prediction
SHIB has a good chance of moving towards the critical resistance at $0.000034. Buyers are still interested in SHIB, but volume is still weak. This could prompt sellers to react to this price action and offer some resistance before the bulls manage to take to key resistance.
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Pantera Capital TON investment signals confidence in TON's scalability and ecosystem growth amid a bullish…
Jack Dorsey's Block initiates monthly Bitcoin investments to expand its holdings in 2024.
The EigenLayer airdrop plan includes distributing 110 EIGEN tokens minimum, with transferability post-September 30, 2024.
Crashino stands distinguished, not only for its cutting-edge platform but also for its groundbreaking acceptance…
Coinbase SEC lawsuit is still ongoing while the exchange remains confident, citing recent court developments.
Coinbase quarter revenue in transactions skyrocketed, helping the exchange earn $1.18 billion in profit.
This website uses cookies.