1. Shiba Inu’s Recovery and Key Resistance
After a challenging start to the year, Shiba Inu (SHIB) has seen a significant turnaround, with buyers showing interest in the cryptocurrency. The price is currently rallying and is approaching the crucial resistance level at $0.000010, while the support level stands at $0.0000095.
2. Bullish Momentum Shift
The Relative Strength Index (RSI) on the daily timeframe has surpassed 50 points, signaling the end of the downtrend. This shift in price action is further supported by an increase in buying volume.
3. Potential Bullish Cross on MACD
This week’s price movement has led to higher lows on the daily Moving Average Convergence Divergence (MACD) histogram, indicating a potential bullish cross if buyers continue to exert pressure. The main obstacle remains the key resistance level.
Bullish Bias for SHIB
The overall bias for SHIB is bullish, suggesting a positive outlook for the cryptocurrency.
Short-Term Price Prediction for SHIB
Keep an eye on the $0.000010 resistance level. If this level is breached, SHIB could experience a sustained rally with new highs anticipated in January.
Hot Take: Can SHIB Break the Key Resistance?
Shiba Inu has shown signs of recovery and bullish momentum, but the real test lies in breaking through the key resistance at $0.000010. If successful, SHIB could see further upward movement and potentially reach new highs in January.
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