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Just 1.9 Trillion SHIB in 24 Hours: What’s Really Happening?
In a recent update, Shiba Inu (SHIB) has seen an astonishing influx of $1.9 trillion in just 24 hours. This unprecedented surge in activity has left many wondering what’s behind this sudden and substantial shift.
Firstly, it is crucial to note that the RSI (Relative Strength Index) has returned to the midway point, indicating a balance between supply and demand forces. As such, Shiba Inu may remain within its current range of $0.0000244 and $0.00003344.
In the event that buyers push the price above the overhead resistance of $0.00003344, they will have an upper hand in this scenario. It is predicted that SHIB could climb to $0.000039 before potentially moving towards $0.000046.
However, if the bears gain traction and force a downward movement beyond the 50-day SMA (Simple Moving Average) of $0.0000244, the advantage will shift towards them.
It’s also worth noting that market sentiment may improve if the United States Federal Reserve were to lower interest rates at its upcoming December 18 meeting. In contrast, a continued slide in prices would likely lead to support levels being tested near the daily SMA 50 at $0.0000244.
In conclusion, this rapid influx of activity and the RSI’s return to the midway point suggest that Shiba Inu will continue to be trapped within its current range for now.
Source: u.today
