1. SHIB Shows Signs of a Bullish Breakout
After a period of extended consolidation throughout August, Shiba Inu ($SHIB) appears to have finally found its floor, signaling the potential for a bullish breakout. The support level at $0.000011 has held strong, giving bulls the confidence to aim for the critical resistance at $0.000014. Should this resistance be breached, it could ignite a fresh rally. Currently, SHIB is trading around $0.000012, indicating that a move higher is on the horizon.
2. Is the Downtrend Finally Over?
As we approach a crucial phase, the possibility of SHIB ending its prolonged downtrend increases. The key to this lies in the $0.000014 resistance level. If SHIB can flip this level into a solid support, it could mark the end of months of bearish pressure. The coming days may prove to be decisive in setting the course for SHIB’s next major move.
3. Bullish Momentum Gains Strength
The daily Moving Average Convergence Divergence (#MACD) indicator turned bullish last week, and this bullish sentiment has now extended to the two-day MACD as well. This shift suggests that buyers are starting to gain control. If this momentum holds, SHIB could enter a sustained upward trend, potentially leading to significant gains.
For the latest news and updates on the Shiba Inu ecosystem, be sure to stay tuned to our Shibarium news coverage.
Source: cryptopotato.com
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