• Shiba Inu [SHIB] strongly recovered after securing the $0.00001030 support.
  • The meme coin’s price action was on the verge of a bullish crossover, potentially pushing the recovery forward.
  • The exchange SHIB long/short ratio showed bears had fair leverage on the 4-hour timeframe at the time of writing.

Shiba Inu [SHIB] Price Recovery

Shiba Inu [SHIB] strongly recovered after securing the $0.00001030 support. At the time of writing, SHIB’s price action was on the verge of a bullish crossover – a signal that could push the recovery forward. However, bulls must clear a key obstacle to advance their efforts.

Impact of Bitcoin [BTC]

Bitcoin [BTC] reclaimed its local highs of $26K and could further boost SHIB’s recovery if it doesn’t falter below recent highs. Bulls must bypass resistance at $0.00001091 for further upside momentum in SHIB.

Analysis

The drop after price rejection at the key sell pressure zone below $0.00001200 was prevented by support at $0.00001030. A breach of this level could attract increased selling, but it should slow down at $0.00000987, making it a potential short-selling target for traders.
The 3-hour chart showed potential MA and golden cross signals alongside rising sentiment in positive territory – both signals could tip bulls to gain more leverage and bypass resistance at $0

Von admin