SHIB Bears Target $0.0000110 Return Amid Shibarium Silence
- DOGE and SHIB saw an optimistic Sunday, with Dogecoin extending its upside spree to five sessions.
- Investor bias toward the Federal and easing contagion danger supported bullishness in the financial world.
- Technical indicators flash bullishness, confirming more price surges.
Dogecoin gained 2.27% yesterday, extending Saturday’s 0.92% uptick to finalize the week at $0.0900 – 1.81% up. Mixed early trends saw the leading meme coin dropping to $0.0873. Meanwhile, the initial massive footing at $0.0852 supported Dogecoin’s upticks to late morning peaks of $0.0911.
The token couldn’t beat the initial crucial resistance of $0.0923. plunging to$0.0911. Nevertheless, late pullbacks left Dogecoin at $0.0900. Shiba Inu mimicked DOGE moves, stretching Saturday’s 0.77% uptick with yesterday’s 2.12% to close the week at $0.00001207 – 0.50% up. Tracking the overall market, Shiba Inu dipped to $0.00001173 early lows.
However, the alt steered from the initial massive support of $0.00001154 to rally toward the $0.00001216 late high. Unfortunately, the canine-themed token could not overcome the $0.00001220 initial resistance, welcoming slides to close the day near $0.00001207.
Fed Sentiment Delivered Support Amidst Shibarium Silence
Another quiet Sunday session had no Shibarium updates to ensure breakouts. Instead, investors awaited more information on the upcoming Shibarium upgrade, including the upgrade date, transaction speeds, and fees.
Also, the DOGE Foundation remained silent over the weekend. That is because network updates have not been made since the Development Fund launch in December last year (2022). Nonetheless, Elon Musk re-triggered hopes of Twitter restarting its Dogecoin integration project.
Though the absence of updates, the overall cryptocurrency market offered support. In addition, bets of reduced aggressiveness from the Federal supported the cryptocurrency market. Nonetheless, regulatory risks remain a challenge for market players to consider.
Investors should monitor cryptocurrency wires for platform updates today. Also, Genesis and FTX news & regulator chatter will offer direction. Further, the NASDAQ Index might stimulate buyer appetite during the afternoon session.
SHIB Price Action
SHIB stood at $0.00001199 during this writing, – 0.66% down. Early price moves saw Shiba Inu soaring to a $0.00001214 high before dipping to a $0.00001195 low. Technical indicators show SHIB will target the first enormous resistance of $0.00001224 after avoiding dips under $0.00001199.
Overcoming Sunday’s peak of $0.00001216 would authorize an extended upward session. Nonetheless, more Shibarium upgrade details and broader market support are essential for a SHIB’s breakout session. Stretched uptrends may see the alt testing the 2nd crucial obstacle at $0.00001242 and the hurdle of $0.00001250.
The 3rd decisive resistance mark stands at $0.00001285. Weakness around the $0.00001199 region would trigger dips in SHIB’s prices. That would clear the road toward the first massive support of $0.00001181.
Nonetheless, excluding another continued slump, Shiba Inu should avoid $0.00001170 and the $0.00001156 2nd massive support zone. Shiba Inu’s third massive foothold stands at $0.00001113.
The Exponential Moving Averages displayed a bullish sign, with Shiba Inu standing beyond the 50day Exponential Moving Average ($0.00001171). In addition, the 50day EMA drifted from the 100day EMA, as the 100day EMA widened from the 200day EMA, signaling bullishness.
Holding beyond the first reliable support at $0.00001181 and the 50day EMA of $0.00001171 would catalyze breakouts from the first resistance at $0.00001224 to eye the second resistance of $0.000012242 before navigating the $0.00001250 value area.
Nonetheless, a dip through the initial reliable foothold ($0.00001181) and the 50day EMA of $0.00001171 would support bearish actions toward the 2nd support of $0.00001156. losing the 50day would confirm a bearish signal.