๐ถ SHIB Price Analysis of the Last 24 Hours
Shiba Inu started the day at $0.00001280 and was welcomed into the day with a death cross on the #MACD line. The price began to fall, reaching $0.00001268 two hours later. Soon the selling bandwagon cooled down, and a golden cross formed on the MACD, supporting a price rise as $SHIB reached $0.00001317 by 7:30 in the morning. Although a short correctional phase was observed, the uptrend persevered despite overbought RSI levels. The death cross at 8:00 UTC finally sparked a notable downtrend as #SHIB dipped to $0.00001259 at 13:55 UTC, the lowest it has been in a year.
The price found stable support at that point. Buying pressure once again started to build momentum, pulling back from the heavily oversold levels. A massive golden cross appeared, and with two spikes, reached $0.00001367 within three hours. At 16:55, finally, a death cross appeared, but the EMAs converged again quickly, as SHIB launched upward once more, reaching a high of $0.00001383. Soon, a death cross appeared again, and selling pressure tugged the RSI back to normalcy. A downtrend commenced as SHIB reached $0.00001312 by 19:35.
A trading range ensued as SHIB fluctuated, waiting for a breakout. The breakout eventually came with a 00:20 UTC golden cross on March 17. The price would climb again, reaching $0.00001351 by 3:00 AM UTC. But by then, overbought conditions and a death cross had already brought upon a decline, as SHIB continued to fall till the afternoon.
