As a seasoned researcher with years of market analysis under my belt, I find myself optimistic about the recent trends in SHIB. The repeated bounces at the $0.000020 support level suggest a resilient buyer base, which instills confidence in the current price action. If the momentum continues, we might see another attempt to breach the resistance at $0.000026.
In the past three days, buyers have been dominating, pushing the momentum towards the bullish side. Should this trend persist, SHIB could be in for a promising ride. A potential bullish cross on the MACD would further encourage more buyers to join the fray, potentially accelerating the price increase as volume picks up.
However, as they say in our trade, “the markets can be merciless but they can also be kind.” So, while I’m hopeful for SHIB, it’s always important to remember that the market can change direction on a dime. Let’s keep a close eye on this one and laugh at any unexpected twists and turns the crypto rollercoaster might take!
SHIB correction appears over. Will buyers return?
Key Support levels: $0.000020
Key Resistance levels: $0.000026
1. SHIB Finds Good Support
On multiple occasions, the price fluctuated around the significant support level of $0.000020, with buyers consistently stepping in to safeguard it. This recurring behavior has bolstered investor confidence in the current market trend, hinting at a potential upward trajectory for SHIB.
2. Buyers are Returning
As a seasoned researcher with years of market analysis under my belt, I’ve noticed that the past three days have seen buyers taking control of the SHIB market. This bullish trend has pushed the price upward and brought us closer to the key resistance at $0.000026. If this momentum persists in the coming days, it’s quite likely that SHIB will attempt to challenge this resistance once more. My personal experience tells me that such sustained buying pressure often precedes significant price movements, so I’m keeping a close eye on this developing situation. Let’s see how things unfold!
3. Bullish Cross on MACD?
If the current trend persists for another day or two, the Shiba Inu‘s daily Moving Average Convergence Divergence (MACD) might become positive. This bullish MACD signal could entice more buyers to join the market, potentially leading to a surge in the price as trading volume increases.
For more updates on the ecosystem, make sure to check out our Shibarium news.
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2025-01-02 12:12