Shiba

Strong

Shiba Inu

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-shows-strong-rebound-from-50-ema/" data-wpel-link="internal">Shiba Inu Shows Strong Rebound from 50 EMA</a><br></p>
<p style="text-align: justify">Popular <strong><a href="https://en.coin-turk.com/pepe-coin-price-surge-and-predictions/" data-wpel-link="internal">meme token</a></strong> Shiba Inu (SHIB) made a significant market comeback by bouncing off the 50 EMA, considered a strong support level. Shiba Inu achieved the breakthrough many had anticipated.</p> 
<h2 id="shib-s-upward-movement">SHIB’s Upward Movement</h2> 
<p style="text-align: justify">However, experts believe the <strong>cryptocurrency</strong> faces numerous resistances ahead. Therefore, relying on a rapid rise might not be the wisest decision. The 50-day EMA served as a reliable support level, providing SHIB with the necessary backing for a comeback attempt. This recovery could give <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> hope and the confidence needed to halt the larger decline that began over a week ago.</p> 
<p style="text-align: justify">Another positive finding from the moving averages is that <strong>SHIB</strong> is currently trading above the 100-day EMA. Being above the 100 EMA, which often serves as a medium-term trend indicator, could suggest a further upward trend.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-358766 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/shib.jpg" alt="" width="1276" height="713"></p> 
<h2 id="current-data-on-shib">Current Data on SHIB</h2> 
<p style="text-align: justify">However, the 50-day EMA is above the current price and may act as a resistance level in the near future. As transaction volume <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data shows</a>, there has been an increase in trading activities during recent <strong>price</strong> movements. This increase in volume could indicate intense market interest and often follows notable price changes.</p> 
<p style="text-align: justify">To overcome current obstacles and experience a prolonged upward trend, SHIB may need consistently high volume. Additionally, the relative strength index (RSI) shows a value of 50. There is potential for movement in either direction as <strong>SHIB</strong> appears neutral, neither overbought nor oversold. An increase towards 70 in the RSI could indicate overbought conditions. For now, SHIB is in the middle and may not provide any clues about the upcoming move.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/shiba-inu-shows-strong-rebound-from-50-ema/" data-wpel-link="internal">Shiba Inu Shows Strong Rebound from 50 EMA</a></h5>

Shiba Inu Shows Strong Rebound from 50 EMA

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