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Title: Bitcoin (BTC) Might Start Its Way Above $100,000 Now, XRP Recovery Began Too Early, Will Shiba Inu (SHIB) Dodge Death Cross?
The crypto market is witnessing a tumultuous period, with many assets struggling to find their footing. The situation with Shiba Inu (SHIB) is particularly precarious, as it teeters on the brink of a death cross. This critical juncture has prompted concerns among investors and analysts alike.
The 100 EMA is currently acting as resistance for SHIB, which has already fallen below important moving averages. A failure to rise above $0.00001850 could lead to further bearish pressure for the asset. The likelihood of a death cross increases if SHIB is unable to break above its 200 EMA, currently set at $0.00002042.
SHIB’s predicament has drawn parallels with Ripple’s recovery, which some believe may have been premature. This notion raises questions about whether SHIB will be able to dodge the impending doom posed by a potential death cross.
In order to prevent a more significant decline, SHIB must continue to rise and breach its 50 EMA. A robust recovery could shift momentum back in favor of the bulls. The possibility of a trend reversal may arise if SHIB manages to move above $0.00001850. Conversely, a dip below $0.00001500 would confirm further downside.
In addition to monitoring price action, it is essential for investors to keep an eye on trading volume. Low volume can indicate insufficient buying support for a genuine recovery.
It remains to be seen whether SHIB will be able to navigate this perilous situation and avoid the dreaded death cross.
Source: u.today
