š Shiba Inuās Crucial Battle at $0.00001: Bulls Eye Weekend Breakout! šš„
š Market Vulnerability Amid SEC-Approved Bitcoin ETFs: Caution Takes Center Stage
Recent approval of Bitcoin exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC) has injected a sense of vulnerability into the broader cryptocurrency market. Investors, cautious in the wake of this development, are leaning towards profit-taking rather than fresh exposure. The impact is felt across major cryptocurrencies like Bitcoin, Solana, and XRP, contributing to an overall cautious market outlook.
š Shiba Inu's Roadmap to a Weekend Breakout: Critical Levels to Watch
For Shiba Inu to solidify its bullish scenario, surpassing the $0.0000094 Exponential Moving Average (EMA) is paramount. This not only serves as a significant resistance point but also holds the potential to trigger a buy signal according to the Moving Average Convergence Divergence (MACD) indicator.
š Stability Check: Support at $0.00000898 and 200-day EMA
To avoid further losses, Shiba Inu must maintain support at the 200-day EMA, currently at $0.00000898. This support level aligns with the lower trendline of an expanding cone, marking it as a crucial area for the cryptocurrency's stability.
š Market Watch: Shiba Inu's Short-Term Trajectory Hangs in the Balance
As Shiba Inu navigates these critical levels, the market's response to the recent SEC-induced sell-off and its ability to surpass resistance will be instrumental in determining its short-term trajectory. šš
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