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Shiba Inu (SHIB): Hidden Golden Cross Ready?
As the cryptocurrency market remains cautious, Shiba Inu is subtly setting a pattern that may precede a brief retracement. If the 50 EMA (blue) edges higher and prepares to cross above the 200 EMA (black), a golden cross would be forming on the hourly chart, often signaling the beginning of a bullish phase or at least a relief rally as traders anticipate a shift in momentum.
Over the past 48 hours, SHIB has strengthened with steadily increasing volume, rising to $0.00001160 after recovering from the $0.00001100 USDT support level. The RSI has risen near 60, indicating that momentum is currently favoring the bulls.
Although this configuration may lead to further gains, it’s essential to maintain perspective. SHIB appears trapped in an extended downturn on the daily chart.
Source: u.today
