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SHIBAINU – ALTCOIN CHART ANALYSIS

 


ShibaInu (SHIBA) is currently in a clear sideways or accumulation phase. A range has formed in the last few days, which so far has not been able to be broken through either upwards or downwards.


We are currently trading at around USD 0.00001. The 4H-EMA Ribbons are currently giving us support or are being tested again as support. The support of the range is also the weekly support P.


Trading volume continues to decrease and the RSI in a neutral territory. So far there are no indications of sharply rising or falling prices.


On the daily chart we see much more interesting zones coming our way. We still have a lot to fish out, especially downwards, because there we got a clear volume candle at around USD 0.000008.


What this means to us is that a lot of long positions have been opened in this area. Furthermore, a pump then started with no real pause, so we have inefficiency in that area.


This rather suggests that sooner or later we will move into this zone again before we can see a sustainable trend reversal. This would be more bullish for the further course.

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