Shiba

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-price-faces-critical-support-level/" data-wpel-link="internal">Shiba Inu Price Faces Critical Support Level</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/shib-price-analysis-will-shib-prepare-for-a-new-decline/" data-wpel-link="internal">Shiba</a> Inu (<a href="https://en.coin-turk.com/shiba-inus-market-dynamics-and-token-burns/" data-wpel-link="internal">SHIB</a>)</strong> is currently going through a significant correction phase. However, the price has now reached a critical golden ratio support level, which could indicate a possibility for recovery. The popular meme token Shiba Inu’s price is increasing, reflecting a trend seen in many other meme tokens.</p> 
<h2 id="correction-process-in-shiba-inu">Correction Process in Shiba Inu</h2> 
<p style="text-align: justify">Shiba Inu has recently encountered significant support at the golden ratio level of about $0.00002 following a notable correction. Previously, the <strong>meme token</strong> was rejected near the 0.382 Fibonacci resistance point at approximately $0.000037. There is a possibility of an upward trend from the golden ratio support directed towards the significant resistance barrier formed by the 50-day exponential moving average (EMA) at about $0.00002464.</p> 
<p style="text-align: justify">While the Relative Strength Index (RSI) is in the neutral zone, presenting a mixed chart of indicators, EMAs are displaying a golden crossover indicating a bullish trend in the short and medium term. Conversely, the moving average convergence divergence (MACD) lines show a bearish trend. However, the MACD histogram has been showing rising momentum since yesterday. In Shiba Inu’s 4-hour chart, the exponential moving averages (EMAs) have recently formed a death cross indicating a short-term bearish trend.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-341492 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/shiba.jpg" alt="" width="1060" height="517"></p> 
<h2 id="uncertainty-in-shib">Uncertainty in SHIB</h2> 
<p style="text-align: justify">However, the MACD lines are currently showing a bullish trend, and the MACD histogram is indicating rising momentum. Despite these contradictory signals, the RSI remains neutral, giving neither bullish nor bearish signals. If <strong>SHIB</strong> experiences a bullish trend, it could encounter significant Fibonacci resistance levels around $0.0000287 and $0.000035. On the weekly chart, the MACD histogram has been consistently showing a bearish trend for the last three weeks, indicating the potential for the MACD lines to follow a bearish trend. Nevertheless, the RSI remains neutral, lacking clear bullish or bearish signals. If Shiba Inu falls below the golden ratio support level of about $0.00002, it could find significant support around the estimated 50-week exponential moving average (EMA) at $0.00001426.</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-price-faces-critical-support-level/" data-wpel-link="internal">Shiba Inu Price Faces Critical Support Level</a></h5>

Shiba Inu Price Faces Critical Support Level

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