Shiba Inu (SHIB) face a new wave of pressure despite the traditional traditional index. The distinctive symbol has decreased although the golden cross – a pattern often associated with bullish momentum – is formed recently on the daily chart.
The golden cross occurs when the short -term moving average exceeds the long -term average. In the case of Shayb, through the moving average for 23 days, 200 days, indicating the possibility of the upper direction. But so far, the price procedure has not shown the expected result.
Currently, SHIB is trading near $ 0.00001296, a decrease of more than 5 % in the last sessions. The decline comes after a short rise.
SHIB cannot get gains over the intersection area, which makes traders anxious that the golden cross may send a wrong signal due to the total uncertainty in the market.
Technical support sits about $ 0.00001274, which is in line with the moving average for 23 days. If this is not higher than this level, this may lead to further sale, as the next support level is about $ 0.001107. The price is still fixed at about 0.00001360 dollars, the lowest time it was.
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The total situation with Meme currencies is still a bit, as the market participants closely monitor things such as trading volume and verification of the direction and appetite for the total risk across digital assets.
Golden crosses are usually seen as a good sign of the market, but in reality it is less important when investors feel uncertain or when there are many short -term bets.
