The Shiba Inu (SHIB) holds its breath, with a familiar technical pattern on the verge of triggering an explosive move. As traders eye key resistances, a swift upward reversal looms on the horizon. However, caution is advised to avoid false signals.
The term “golden cross” refers to the upward crossing of the 50-day exponential moving average (EMA) through the 200-day EMA. This signal is traditionally interpreted as bullish by seasoned technical analysts. This crossing is about to occur on the SHIB hourly chart. It indicates a potential renewed bullish momentum, despite the current market gloom.
Technical illustration :
This recovery occurred after SHIB bounced off the support zone of $0.00001100 to currently reach $0.00001160 USDT.
Even though this golden cross formation is promising in the short term, enthusiasm should be tempered. Major resistances to overcome (daily units) :
Indeed, despite a possible push toward higher zones following the golden cross, Shiba Inu remains technically anchored in an extended bearish channel on longer timeframes. This implies that any bullish movement triggered by this configuration could prove temporary. There is no confirmation of a genuine bullish trend until SHIB manages to climb above these structural resistances.
The market is increasingly seeking tangible technical signals in a volatile environment where altcoins struggle to regain their post-bull run vigor. Shiba Inu, though still perceived as a speculative asset on the periphery of the crypto market, maintains its attractiveness to short-term traders. This is due to its liquidity and technical fluctuations.
However, we recommend :
Shiba Inu (SHIB) shows encouraging signs of short-term recovery thanks to this technical golden cross. However, the lack of confirmation on major timeframes calls for caution. Savvy crypto investors should evaluate their positions while maintaining rigorous risk management. The golden cross on Shiba Inu is potentially a catalyst for a technical bounce… but insufficient on its own to signal the end of the asset’s bearish trend.
To seize opportunities related to Shiba Inu, here’s a guide to buying it on BitMart :
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