Shiba Inu (SHIB) Faces Critical Turning Point Amidst Market Uncertainty Shiba Inu (SHIB) finds itself at a pivotal juncture as its current price sits at $0.00002505, experiencing a 1% decline since yesterday. Following a brief uptrend towards the 50-day EMA, SHIB encountered a sudden pullback, indicating weakened momentum amidst a broader market downturn. The reversal […]
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Shiba Inu (SHIB) Faces Critical Turning Point Amidst Market Uncertainty
Shiba Inu (SHIB) finds itself at a pivotal juncture as its current price sits at $0.00002505, experiencing a 1% decline since yesterday. Following a brief uptrend towards the 50-day EMA, SHIB encountered a sudden pullback, indicating weakened momentum amidst a broader market downturn.
The reversal occurs amidst moderate neutral trading volume, reflecting traders’ reluctance to push the SHIB price in either direction. This market uncertainty is also reflected in the RSI, hovering around the midpoint of 50, indicating neither overbought nor oversold conditions and mirroring the current market ambiguity. SHIB’s failure to rise above the 50 EMA signifies a lack of buying power in the market.
A crucial support level at $0.000021 forms an urgent base, with a close below this level potentially indicating further declines toward the lower boundary of the $0.000012 trading range. However, if SHIB successfully surpasses the 50 EMA, it may target higher resistance levels, with the first resistance zone at the recent high of $0.00003.
Nevertheless, SHIB’s upward movement may face challenges, requiring …
The post Furrever Token (FURR): Setting the Standard with Potential Returns and Ambitious Plans, Chasing Dogecoin and Shiba Inu appeared first on Coin Edition.
