BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Shiba Inu Coin Price Soars 12% Today; Is It Too Late To Enter?

Shiba Inu Coin Price Soars 12% Today; Is It Too Late To Enter?
Over the past three months, the Shiba Inu coin price action has shaped into a rounding bottom pattern . This pattern consists of three phases, a downfall, consolidation(accumulation), and uptrend, displaying a U-shaped recovery. In theory, this pattern can be seen as a sign that the selling pressure in the market has diminished, and that buyers are starting to enter the market, pushing prices higher. 
  Key Points: 

A bullish breakout from the $0.000014 neckline of rounding bottom pattern set the Shiba coin price for a 40% jump
According to the RSI indicator, this meme coin has entered an overbought region and a correction is needed
The intraday trading volume of the Shiba Inu coin is $1.12 Billion, indicating a 75% gain.

Source- Tradingview
From the January 1st low of $0.000008, the new year recovery surged the Shiba Inu coin price 75.5% higher to reach the current price of $0.000014. During this rally, the buyers breached multiple resistance which in return has switched to viable support and bolster further price growth.
Moreover, today, the SHIB price witnessed a significant inflow and recorded a 12% intraday price jump. The Shibarium builder, Unification, may have influenced this sudden price increase by revealing their progress layer-2 solution in a recent blog post.
Thus, with a massive bullish candle and growth in volume, the SHIB price breached the $0.000014 neckline of the rounding bottom pattern. If the daily candle closes above the mentioned resistance, the buyers will get a strong footing to support their further growth.
Also Read: Top Crypto Discord Servers/Groups Worth Joining In 2023
In an ideal bullish scenario, this breakout may push the SHIB price 40% higher to hit the $0.00002 psychological barrier. In addition, the potential rally may face minor resistance at $0.00001522 and $0.0000178.
On a contrary note, if the buyers failed to sustain above the $0.000014 mark and drop lower, the Shiba coin price could witness a minor correction.
Technical I ndicator
MACD : The Moving Average Convergence Divergence indicator identifies changes in momentum and trend. A bullish crossover between the indicator’s MACD(blue) and signal(orange) as seen above indicates the growth in underlying bullishness and a higher possibility of price recovery.
EMAs : the rising 20-day EMA offers dynamic support to the fast recovery SHIB price.
SHIB Coin Price Intraday Levels

Spot price: $0.000014
Trend: Bullish
Volatility: Low
Resistance level- $0.00001522 and $0.0000178.
Support level- $0.000014 and $0.00001255

The post Shiba Inu Coin Price Soars 12% Today; Is It Too Late To Enter? appeared first on CoinGape .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Shiba Inu Coin Price Soars 12% Today; Is It Too Late To Enter?


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News



Dokky PRO - Bookcase Shop Script