SHIB Shows Potential for Bullish Momentum Amid Technical Squeeze and Increasing Trading Volume
Main Idea
Shiba Inu (SHIB) is showing potential for bullish momentum as it bounces off the $0.000012 support level and faces resistance at $0.000014, with technical indicators suggesting possible volatility ahead.
Key Points
1. SHIB has bounced off the $0.000012 support level, indicating renewed strength.
2. The 50-day EMA is acting as a crucial support level for SHIB’s price movement.
3. A breakout above $0.000014 could lead to further bullish momentum, but the 100 EMA at $0.0000135 remains a significant barrier.
4. Retesting the $0.0000118-$0.0000115 support area could expose SHIB to additional downside if the 50 EMA is not held near $0.000012.
5. SHIB is forming a potential price squeeze, indicating possible volatility ahead.
Description
Shiba Inu (SHIB) is currently showing signs of a potential price squeeze, bouncing off the $0.000012 support level and facing resistance at $0.000014. SHIB has bounced off the $0.000012 level,
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