After a lengthy period of sideways consolidation and decline, Shiba Inu coin SHIB finally showed signs of light, showing signs of a possible upward trend. In technical analysis, signs of asset momentum conversion are particularly important. SHIB's successful crossing of its 50-day exponential moving average (EMA) is a reflection of this key node.
This breakthrough marks an important rebound for SHIB since the middle of this year, indicating that there may be significant room for appreciation in the coming period, and market sentiment has subsequently turned to optimism. In the past few months, SHIB has been unable to effectively boost prices due to the strong barrier of the 50-day EMA. Today, SHIB has jumped above that level, signaling further upside potential. Currently, SHIB's trading price is hovering around $0.00001499. If it can remain firmly above the 50-day EMA (about $0.00001700), then the subsequent 100-day EMA will become the next focus of market attention.
However, despite the seemingly positive trends, sluggish trading volumes remain a major concern. The lack of trading volume may mean that the market has insufficient buying power, and SHIB's upward momentum is susceptible to weakening due to insufficient market activity. Therefore, changes in trading volume are regarded as an important yardstick for assessing the strength of price movements. If no significant increase in trading volume is seen in the short term, SHIB's price may face the risk of a correction.
In terms of downside risks, if SHIB cannot firmly maintain its position above the 50-day EMA, it could quickly return to the bearish channel. In this scenario, $0.00001300 will serve as a key support level, as the market has previously shown some willingness to buy at this level. This area may become the starting point for SHIB's rebound and is also a line of defense that investors need to pay close attention to.
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