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SHIBAINU – ALTCOIN CHART ANALYSIS

 


ShibaInu (SHIBA) is in an uptrend and ascending trend channel. Right now we are trading around $0.00001257 and we are now entering an interesting area for the next few days and weeks.


We are scratching our horizontal resistance on the 4H chart and may break it in the near future. However, we also have short-term bearish signs on the chart. Above all, a small bearish divergence could bring us down again.


A retest of the trend line at c. USD 0.000012, the 200 SMA and EMA could follow here. There it will be important that we hold this support and see a backlash.


On the daily chart, we still have some air in the RSI. Nevertheless, there is currently more to be said for a brief correction in order to then be able to start a new rally. If we get the retest on the trendline, SHIBA could make a significant bounce higher.


The horizontal resistance is the last one before we could make our way towards USD 0.000018 as there is hardly any resistance left in between and we were rapidly sold off at that time. There will be a bigger backlash there.

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