Why Did Shiba Inu (SHIB) Price Rise Today?
After a long correction, SHIB is signaling that it wants to move higher.
Key Support levels: $0.000025
Key Resistance levels: $0.000030
1. SHIB Goes Higher
In late May, SHIB had a higher peak and a lower peak in early June. These signal that an uptrend may be about to begin. This wouldn’t be surprising considering other meme coins like pepe have set new records. If buyers maintain this momentum, the current target will be the resistance at $0.000030.
Chart by TradingView
2. Buyers Hold Strong
The price found a good support at $0.000025 even as sellers tried to break below this level. As long as this key level continues, buyers have an advantage. The increase in momentum puts sellers on the defensive.
Chart by TradingView
3. Bullish Momentum Is Increasing
June may be the month when SHIB finally returns to the spotlight. After a long consolidation in April and May, momentum indicators show buyers are returning. For example, the MACD histogram on the 3-day time frame clearly shows higher lows. The uptrend seems imminent and confirms this trend.
Chart by TradingView
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Cryptocurrency charts from TradingView.
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