đ„đ„đ„ #Shibalnu Corrects After Golden Cross: Key Support Levels in Focus
Shiba Inu's recent golden cross sparked market excitement, but a subsequent retracement has turned traders' attention to key support levels.
Despite earlier bullish signals, SHIB's price action has been notably volatile in recent days.
âFollowing the golden cross, trading volume surged,â observed a COINOTAG analyst, reflecting the market's fluctuating sentiment.
Shiba Inuâs Golden Cross: A Key Indicator in Play
- In crypto trading, a golden crossâwhen the 50-day moving average crosses above the 200-day moving averageâis widely seen as a bullish signal, often suggesting potential upward movement and drawing investor interest. Recently, SHIB/USD formed this pattern, fueling market optimism.
- However, hopes around this technical signal were quickly tempered by a sharp correction. After reaching a high of $0.00002622, Shiba Inuâs price dropped to $0.00002553, marking a 4.07% dip within 24 hours. This swift downturn has prompted many traders to reassess their strategies amid the ongoing market volatility.
