Shiba Inu (SHIB) has witnessed a notable ascent, marking a 271% increase over two weeks, approaching a critical profit zone. However, momentum wanes, with indicators suggesting an imminent correction. Technical analyses, including RSI and MACD, hint at bearish trends amidst high active deposits, signaling possible profit-taking. This analysis delves into SHIB's potential to surpass resistance levels, exploring the delicate balance between bullish optimism and the practicality of market dynamics
The article discusses Shiba Inu (SHIB)'s recent price surge and the potential for a correction. It notes a 271% increase in SHIB's price over two weeks but highlights a loss of momentum in recent days. Technical indicators like the RSI and MACD suggest a bearish trend, with high active deposits indicating possible profit-taking by investors. However, it also mentions that overcoming a specific resistance level could reignite bullish momentum for SHIB.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
