Shiba Inu Shows Potential for Continued Rally Amid Overbought Signals and Key Resistance Levels
2025-07-18 09:23:47
Main Idea
Shiba Inu (SHIB) shows potential for continued rally after breaking key resistance and the 200-day EMA, but technical indicators suggest short-term volatility due to overbought conditions.
Key Points
1. Shiba Inu broke above the 200-day EMA and key resistance at $0.00001548, signaling a potential trend reversal and bullish momentum.
2. The RSI is around 78, indicating overbought conditions, which may lead to short-term pullbacks or sideways trading.
3. A golden crossover of the 50 and 100 EMAs supports a medium-term uptrend if SHIB holds above the $0.000014 support level.
4. The next resistance levels are near $0.0000185, but failure to maintain support could see a retest of $0.000013.
5. High trading volume and holding above the 200 EMA will be crucial for sustaining upward momentum.
Description
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