- SHIB token shows a bullish crossover of the 20 and 100 EMA in the daily time frame
- The SHIB/BTC pair was trading at 0.0000000001845 BTC with a gain of 10.31%
- The 24 hr trading volume in SHIB is $776.2 Million
Since the sudden fall of May, the SHIB token has never seen the $0.00001 mark, and the token price has been resonating between the $0.00000950 to $.0.0000055 mark for around five months now. Furthermore, the price has recently bounced from a support level of $0.00000675 and is strongly chagrin towards the crucial resistance of this range.
Concerning the EMA’s, the SHIB token price is trading above the 100 EMA line, indicating a bullish trend in this token. Moreover, the chart also shows the bullish crossover of 20 and 100 EMA, which could lure more buyers in this token.
The RSI (BULLISH) value is 64, indicating bullish momentum in this token.
SHIB Token Chart Reveals A Long Opportunity For Its Trades
The SHIB token displays the formation of a rounding bottom pattern in the 4hr time frame chart. This bullish pattern provides new hope for the coin buyers, as it can help the price break out from the overhead resistance of 0.0000095, which is also the neckline of this pattern. If the price manages to provide a decisive breakout from this crucial resistance, the SHIB trader can grab an excellent long opportunity. The current price of the SHIB token is $69.81, with an intraday gain of 0.22%
The MACD indicator (BULLISH) shows both the MACD line and the signal lines moving higher than the neutral zone, indicating bullish momentum in the market.
Conclusion: From the technical perspective, the overall trend of the SHIB token is still sideways. However, as mentioned above, the price is moving towards the crucial resistance with a bullish pattern, providing another chance for this coin to break free from this consolidation and start a new rally.
Support– $0.00000855
Resistance– $0.0000095