Shiba Inu (SHIB) continued to trade sideways with bears standing in the way of buyers at the $0.00000758 price zone.
Shiba Inu continued to trade sideways with bears standing in the way of buyers at the $0.00000758 price zone. Where will SHIB head next?Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.SHIB’s Mean Coin Age rose along with a decrease in supply on exchanges hinting at a likely price rally.continued to trade sideways with bears standing in the way of buyers at the $0.00000758 price zone. The 6.
On the other hand, the Relative Strength Index shifted between the upper and lower range, as bulls and bears tussled for dominance. A prerequisite for a significant move for Shiba Inu would rest on a rapid increase in its daily trading volume. As such, this price range formation presents a good opportunity for either buyers or sellers to take advantage of.
Consequently, a bearish breakout would take SHIB toward the $0.00000651 price level. On the flip side, a bullish breakout would take the memecoin toward the $0.00000807 resistance level.The descent of price to the range-low along with on-chain activity could present buyers with a buying opportunity. According to data from, Shiba Inu’s 90d Mean Coin Age was on a significant uptrend. This hinted at a network-wide accumulation of SHIB.
At the same time, the supply on exchanges decreased massively which signaled that traders were looking to hold onto Shiba Inu for the long term. This could be interpreted as positive signs for bulls with buyers needing a strong rally to reverse the bearish market structure.Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times.
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