Shiba Inu (SHIB): Zero Removal Cancelled, Bulls Are Here
Main Idea
Shiba Inu (SHIB) shows signs of potential recovery after stabilizing at a key support level, though it faces resistance from long-term EMAs.
Key Points
1. SHIB has steadied itself after weeks of selling pressure and a failed attempt to break above the 50-day EMA, maintaining optimism for recovery.
2. The daily chart shows SHIB found support at $0.0000120, but it remains below the 50-day EMA ($0.00001296) and 100-day EMA ($0.00001324).
3. Bulls need to overcome resistance from the 200-day EMA to regain control and potentially push the price higher.
4. The RSI has recovered slightly from oversold territory (now between 44-45), allowing room for further upside if momentum holds.
5. If SHIB fails to stay above $0.0000120, it may test the next support zone at $0.0000115-$0.0000110.
Description
Shiba Inu might see great recovery setup thanks to higher low
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