CandleFocus Shiba Inu (SHIB) Price Faces Uncertainty as Whale Moves Stall
2024-10-31
Author: Content Editor
Shiba Inu (SHIB) price is currently in a bullish setup as it sits above all EMA lines. However, the narrow distance between these moving averages suggests that the bullish momentum is not very strong. Whale activity has remained stable, indicating a lack of significant accumulation and hesitancy among large holders. The RSI has dropped from over 70, indicating that buying pressure has cooled off and SHIB is moving away from overbought territory. The stability in whale numbers suggests a lack of strong conviction among them. SHIB's EMA lines show a bullish setup, but the narrow gap between them suggests that the bullish momentum is not exceptionally strong. If the uptrend strengthens, SHIB could target higher resistance levels, but a reversal could test key support levels instead.
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