The price of Shiba Inu is currently trading at around $0.00001247, recording daily stability with limited fluctuations between $0.00001228 - $0.00001267.
Technical indicators:
The price is moving near the 50-day moving average, reflecting short-term neutrality.
The Relative Strength Index (RSI) is positioned around level 48, indicating a balance between buying and selling pressures.
The MACD shows a weak negative crossover which puts some pressure in the near term.
Support and resistance levels:
The first support at $0.00001220, if broken, may indicate weakening momentum and push the price towards a deeper bottom, while the second support at $0.00001180 is a pivotal level and maintaining it is essential to avoid a wider drop.
The first resistance at $0.00001280, if broken, will restore confidence for buyers and open the way to test higher levels, while the second resistance at $0.00001320 is a major barrier, surpassing it could ignite a new wave of upward movement.
In summary, Shiba Inu is still moving within a narrow range and any breakout above $0.00001280 could open the door to an attempt to reach $0.00001320, but if the support at $0.00001220 is broken, we may see a return towards levels of $0.00001180.
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