Shiba Inu (SHIB) is showing positive signs after a long period of sideways movement that made investors wait. The price of SHIB is currently maintaining a slight upward trend amidst the overall cryptocurrency market still being quite volatile. What is noteworthy is not only the price but also the technical signals and strong trading activity beneath the surface. These developments are attracting the attention of many investors, reflecting the potential for an upcoming recovery for SHIB, especially as cryptocurrency whales continuously accumulate large amounts of Tokens. This article will analyze in detail technical indicators, trading volume fluctuations, and important support and resistance zones to give you a comprehensive view of the current Shiba Inu price trend.
Technical analysis of Shiba Inu and recovery signals from Moving Average trends
On the hourly chart, Shiba Inu has just appeared in a golden cross pattern when the short-term 50-cycle moving average crosses above the 200-cycle moving average. This is an important technical signal, often evaluated by experts as a sign of the beginning of a new uptrend in cryptocurrency. This pattern reflects increasing buying strength and expectations for a sustainable recovery in the short term for SHIB.
The golden cross not only improves investor sentiment but also attracts more liquidity from technical traders, thereby reinforcing the price uptrend beyond important resistance levels of Shiba Inu.
Increased trading volume and its significance for SHIB price trends
The trading volume of Shiba Inu has significantly increased in recent days, indicating that liquidity and the interest of the cryptocurrency community in SHIB are heating up. The increase in volume is a sign that many new investors or whales are entering the market, betting on the price increase potential of this famous Meme Coin.
High trading volume combined with positive technical signals often helps break through sideways price zones, creating conditions for prices to make stronger breakthroughs in the near future.
The impact of whale actions on Shiba Inu price
Cryptocurrency whales have just executed large purchases of up to 10.4 trillion SHIB Tokens, equivalent to about 110 million USD. This is an important move considering that SHIB recently experienced its lowest price in the last 16 months. The strong buying by whales has instilled confidence in the market and opened up recovery opportunities for SHIB price.
Such whale transactions often reflect long-term investment opportunities, helping to stabilize supply and demand and limit deep declines, while also triggering interest from retail investors.
Signs of recovery from price action and candle patterns
The candle pattern in the past week showed an inside week candle combined with an 11% increase in price, indicating the positive momentum of Shiba Inu. Although SHIB price briefly touched 0.00001198 USD with high trading volume, there was a slight adjustment of about 0.3%, but this signal is largely seen as a stepping stone for future rallies.
Price patterns and increased liquidity indicate that SHIB is in an accumulation phase, ready for a stable uptrend if it maintains important support levels.
Important support and resistance zones for Shiba Inu price
Shiba Inu price is currently testing the resistance zone from 0.00001180 to 0.00001185 USD. If SHIB breaks through and maintains above the 0.00001190 USD mark, the possibility of a rapid increase to 0.00001220 USD is very feasible. Conversely, if this level is not maintained, the price may adjust down to the near support of 0.00001145 USD, and further down could be 0.00001140 USD, where sellers will continue to exert pressure.
Monitoring these price zones is essential for investors to have appropriate entry/exit strategies, contributing to effective risk management in the context of the cryptocurrency market still being highly volatile.
Source: https://tintucbitcoin.com/shiba-inu-shib-co-tang-gia/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated on the latest news about the cryptocurrency market and not miss any important information!
