Shiba Inu Here’s what you need to know about your favorite cryptocurrency
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| Shiba Inu Here’s what you need to know about your favorite cryptocurrency |
Disclaimer: The following analysis results are solely the opinions of the authors. This should not be considered investment advice.
Since the launch of ATH last October, the number of meme markers has dropped sharply. Even south of the 0.033 range between parallel channels, Siba Inu (SHIB) fell below the critical liquidity margin. by a factor of 1000).
Buyers looking at the trend towards the $0.02195-$0.02013 range: target the SHIB 20 EMA (red) before returning to a long-term bearish trend.
This fall, SHIB missed its key checkpoint (red POC) near the $0.03 level and broke below the 200 EMA (yellow). This level corresponds to a Fibonacci resistance of 23.6%. More than four months
As a result, when bulls come under pressure and prices begin to fall, prices fall in a solid range. So he rallied 70% in 3.9. February and crossed the bottom line, stable at 23.6%. However, it breaks below the 200 EMA (yellow) when the EMA goes below 20 years. Bears have this advantage.
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If history repeats itself, the bulls should hold the $0.02-$0.021 range going forward, so that continues at $0.024. In addition, traders should note a slight difference between the EMA 50 (blue) and 200. Close to exponential steps, using regression crosses (mortality crosses) can be a big sell.
The bear is trying to find a close range in the RSI 43-45 resistance range. Price momentum has been downward for the past three weeks, with the RSI at 39 support points. This indicates a difference in speed. In addition, the OBV directly supports price distribution to the south.
The DMI line also shows low tuning. This is a fairly buying result and the ADX index continues to show a weak trend direction for Shiv.
The result is
In general, the ALL could reverse the long-term bearish trend when technical indicators for the 20/50 EMA show a short-term recovery.
Additionally, ALT also has a 30-day correlation of 30% with Bitcoin, so it’s important to follow the general mood of the market, as well as Bitcoin movements, to make a profit.
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