Jakarta, Pintu News – The cryptocurrency market is always full of surprises and speculation, especially when it comes to meme coins like Shiba Inu (SHIB). Currently, Shiba Inu is trading at around $0.00001005 and showing signs of recovery from the demand zone. However, there are some obstacles to overcome before we can witness a significant price surge.
Shiba Inu’s daily chart shows that there are several resistance levels that are difficult to break through. A descending trend line originating from the peak earlier this year has consistently blocked price upside attempts since August. Four major moving averages, including the 20-day EMA (Exponential Moving Average) at $0.00001068, the 50-day EMA at $0.00001146, the 100-day EMA at $0.00001200, and the 200-day EMA at $0.00001257, are all above the current price, creating a thick ceiling that is difficult to break through.
Control of the market is currently still in the hands of sellers, as shown by the Supertrend indicator in red. This signals that there is still a significant struggle to be faced by the buyers before it can start a meaningful recovery.
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An analyst named Marks has projected that Shiba Inu may be set to surge up to 200% if it manages to break out of the key accumulation zone it is currently facing. Marks highlighted the presence of a bullish divergence on the MACD indicator which suggests a potential change in trend. If Shiba Inu manages to breach the 200-day EMA at $0.00001257, this could trigger a rise towards $0.000032, a significant jump from where it currently stands.
Spot flow data showed an inflow of $84,250 today, signaling a turnaround after several sessions of outflows. Support at the $0.00000980 level has been successfully defended several times, preventing further declines.
On the 30-minute chart, SHIB managed to break out of the short-term descending channel and reclaim the VWAP line, signaling the beginning of a momentum shift. However, if Shiba Inu fails to break the long-standing resistance level, the price could return to support at $0.00000980, with the risk of a deeper drop to $0.00000900 if selling pressure returns.
With all these factors, the upcoming trading session will be decisive. Will Shiba Inu explode and reach higher price levels, or will it return to a consolidation phase? Only time will tell.
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