Can SHIB withstand the pressure and continue to climb as short-term holders take profits?
SHIB is up 3.5% in the past 24 hours and 12.2% in a month, which is not bad. But it is still a bit inferior to Dogecoin, which has soared 24% in a month!
Although SHIB has not yet broken through the resistance zone, I think it is still promising in the coming weeks and months. There is something called the Shiba Inu Golden Cross, which indicates that it may continue to rise. Moreover, the Awesome Oscillator indicator also shows that the momentum behind Shiba Inu is quite strong, and the daily chart is also very good, with higher trading volume than in September.
However, although the price has touched the resistance zone of $0.00002, it seems that there are not enough buyers, and the OBV is still hovering near the lows of August and September. If there are more buyers, SHIB has a greater chance of breaking through this resistance zone.
There is another thing to mention, that is the golden cross, that is, if the 50-period and 200-period moving averages cross, it is a bullish signal. But it has not crossed yet. When it really crosses, traders will know that SHIB may usher in a big rise.
But then again, SHIB is not without challenges. Although the price trend and momentum are good, buyers are still not enthusiastic enough. The average holding time is also declining, which shows that everyone is diversifying their investments and not concentrating on buying SHIB.
Moreover, the recent rise has made short-term holders earn a little money, and they may want to sell SHIB. In this way, SHIB may have to wait a little longer to break through $0.00002.
The copycat is ready to move. I plan to ambush a potential coin that is ready to explode. It is still very easy to double it. At the same time, I am also preparing to find some potential coins to hold by the end of the year. It is no problem to expect more than 10 times the space. If you like spot or contracts, please like + leave a message to keep up with my pace.
