The analysis identifies a SHIB trading setup with a demand zone between $0.0000139 and $0.0000144
Data shows a 0.84% rise in long-term Shiba Inu holders (over 1 year) and a decline in short-term traders (less than 1 month) by 3.12%
A chart reveals that SHIB is exhibiting a descending triangle pattern
A technical analysis from SwallowAcademy identifies a significant trading pattern in Shiba Inu (SHIB), suggesting a possibly notable price movement.
Namely, the analysis identifies a SHIB trading setup with a demand zone between $0.0000139 and $0.0000144, where SHIB’s price at $0.0000145 (at the time of analysis) shows potential for a 10-20% increase to $0.0000159 based on historical rebounds from this zone.
Several technical indicators have been highlighted as well. For instance, the 50-period Exponential Moving Average (EMA) is currently around $0.000014266, with the 200-period EMA close to $0.000014561. Shiba Inu’s price is presently just under the 50 EMA but remains near the 200 EMA, and a move above these levels could be a signal for a bullish reversal.
Also, the Relative Strength Index (RSI) stands at approximately 46.92, which is slightly below the…
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