Shiba

Shiba Inu

Coin

<ul class="news-points">
 <li>Shiba Inu shows a descending triangle pattern, hinting at a potential breakout.</li>
 <li>With SHIB trading near key resistance, a breakout above $0.0000173 could trigger significant buying interest.</li>
 <li>Technical indicators like RSI and MACD suggest room for upward movement in SHIB’s price trajectory.</li>
</ul>
Shiba Inu (SHIB), the popular meme-inspired cryptocurrency, is showing signs of a potential breakout as its price consolidates near key resistance levels. Despite a recent downtrend, technical indicators and market sentiment suggest a bullish reversal could be on the horizon for SHIB.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeY5B_fCJehBmXa9pmLnhSmw0bbB5TsZvcObnXXkjXkAqxwVtbw896Fcvc0Ves7bsiD1iTvy0R82PLNRdBSTZ9-59Qy9kF07sidas_lB3l6nsJahmFPqWa8spii0iXnp4jZpD2ypOlD115gCRKCfyRaRUwH?key=ywtV0cZR97rJAbmZvbyW0Q" alt="">
</figure>
The SHIB/USDT chart highlights a descending trendline that has consistently acted as resistance. Recently, the price touched this trendline, and the trading volume saw a slight increase. This confluence often signals a crucial turning point. If SHIB breaks above this trendline with substantial volume, it could confirm the start of a new upward trend. The price of SHIB is currently at <a href="https://coinmarketcap.com/currencies/shiba-inu/" target="_blank" rel="noopener noreferrer nofollow">$0.00001730</a>, a slight increase. This rise, while modest, hints at growing bullish momentum as the coin attempts to overcome the resistance barrier at $0.00001729.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXftrOaen5-szf2WhOxOxsYv0IYblsVnlkCOr4qJ1pwMm7I6ZjpeuSn7_wnOj5kP5PbNwuKonpquUCj8xJ_D7blkKALgj_9nYIJ2nd5yC_emxTuwbDyFEnyNT_hQ0IIXbjPBOMx3wEOTCv72RD0dOFC8E37N?key=ywtV0cZR97rJAbmZvbyW0Q" alt="">
</figure>
Moreover, indicators such as the Relativ…
The post <a href="https://coinedition.com/shiba-inu-nears-key-resistance-is-a-breakout-imminent/" rel="noopener noreferrer nofollow">Shiba Inu Nears Key Resistance: Is a Breakout Imminent?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Shiba Inu Nears Key Resistance: Is a Breakout Imminent?

Coin Edition

Інші статті, опубліковані 24 лип. 2024 р.

Is The US Emulating Germany? $4 Million Bitcoin Movement Raises Questions

JUST IN! Approval for Bitcoin and Cryptocurrency Payments from Russia!

Binance Coin (BNB) Prediction for July 24

Citi upgrades Coinbase shares to ‘buy’ citing ‘shifting’ US politics

Bitcoin ETF Attracts $534M, Drives IBIT Stock Up 20% in a Fortnight

Bitcoin rewards app Fold to go public via SPAC merger

Приєднуйтеся до нашої безкоштовної розсилки для отримання щоденних оновлень щодо крипто!