CandleFocus Shiba Inu Bulls Aim Higher As SHIB Sights $0.00002960 For A Fresh Rally
2024-12-12
Author: Content Editor
The crypto token Shiba Inu (SHIB) is approaching a critical resistance level at $0.00002960, which will determine whether it can rally further. The recent consolidation around this level suggests a breakout could be imminent, especially as SHIB is trading above the 100-day Simple Moving Average. The 4-hour Relative Strength Index (RSI) indicates increasing bullish momentum, indicating that buyers are gaining control. If SHIB successfully breaks above the resistance level, it could trigger a significant rally and attract more buyers. However, failing to break this level could result in a pullback or consolidation. Sustained buying pressure will be crucial in maintaining the upward momentum.
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