An Explosive Technical Setup for SHIB ?
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 :
- EMA 50 (blue) : currently crossing upward through the EMA 200 (black)
- RSI : progressing towards 60, signaling momentum in favor of buyers
- Volume : steadily increasing over the past 48 hours
This recovery occurred after SHIB bounced off the support zone of $0.00001100 to currently reach $0.00001160 USDT.
Bullish Short-Term Signals, but Caution Required
Even though this golden cross formation is promising in the short term, enthusiasm should be tempered. Major resistances to overcome (daily units) :
- EMA 50, 100, and 200 still above the current price
- Critical technical zone: $0.00001350 to $0.00001500
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.
Shiba Inu in Turbulent Zone Before a Potential Breakout
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 :
- A cautious approach with tight stop-losses for any trade based on this pattern
- Considering this golden cross only as a potential bounce trigger, not as a guarantee of a complete trend reversal
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 :
- Registration : Create an account on BitMart.com and validate your identity (KYC).
- Deposit funds : Deposit USDT, BTC, or use a bank card.
- Token search : Find the SHIB/USDT pair in “Spot Markets.”
- Purchase : Place a market order (immediate) or limit order (defined price).
