CandleFocus Shiba Inu (SHIB) Hits 30-Day High: Is ATH Next?
2024-11-06
Author: Content Editor
The price of Shiba Inu (SHIB) has been showing strong momentum, reaching a 30-day high. Investors are speculating whether SHIB can continue rising and reach its all-time high. The buying volume has increased, supporting a bullish sentiment and indicating sustained interest. However, SHIB is currently facing resistance around $0.00001900, which has historically prevented further gains. If it can break through this resistance with significant volume, SHIB may pave the way for higher levels and potentially reach its ATH. If the resistance is not overcome, the market may retreat to support levels near the 50-day moving average. The recent US midterm elections have decreased political uncertainty, creating a favorable environment for assets like SHIB. Sustaining volume and decisively breaking above resistance levels are crucial for SHIB to continue its rally and reach significant levels. Traders should watch for indications of waning momentum at resistance levels, as this could signal a temporary halt or correction. Overall, a sustained breakout is needed to validate SHIB's path towards its ATH.
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