🤔 Shiba Inu vs BONK: Buy, Sell or Hodl?
Shiba Inu vs BONK: Technical Analysis
🔸 $SHIB
Shiba Inu, also labeled “Dogecoin Killer,” has sparked intense discussion and speculation within the cryptocurrency world. Analyzing its technical indicators illuminates its present direction. Exponential and simple moving averages present a slightly bearish outlook, but longer-term averages show a bullish sentiment.
Shorter period EMAs are showing a preference for selling, while the longer-term EMAs, particularly the 100 and 200-day averages, indicate a buying opportunity.
Oscillators are generally indicating a neutral position, as seen with indicators such as the Relative Strength Index (RSI) hovering in the neutral range, indicating neither overbought nor oversold situations.
The MACD line shows a slightly bullish buy signal, suggesting possible upward movement. Fibonacci levels provide important guidance for traders by revealing possible price ceilings and floors. Should the price of SHIB decrease, it will find support and $0.00001146 .
In case the price increases, it will find resistance at $0.00002929, $0.00003620, and $0.00004857. Caution is recommended as SHIB moves through these levels during uncertain market conditions
