Analysis of $SHIB (Shiba Inu Spot): Bullish reversal from key support 🐕🚀
The $SHIB spot pair shows a +4.93% rebound, currently trading at 0.00000532 USDT.
Market metrics (24h):
24h High: 0.00000540
24h Low: 0.00000500
24h Volume (SHIB): 852.97B
24h Volume (USDT): 4.39M
Key technical levels (6-Hour Chart - 6h):
Current price: 0.00000532
Recovered dynamic support (MA7): 0.00000514
Long-term dynamic support (MA99): 0.00000523
Immediate dynamic resistance (MA25): 0.00000536
Recent consolidation low: 0.00000500
Wick high of the previous candle: 0.00000540
Outlook:
Shiba Inu has registered a strong bullish engulfing green candle on the 6-hour timeframe after forming a solid bottom at 0.00000500. The upward momentum has crossed above both the MA7 (0.00000514) and the MA99 (0.00000523), supported by a visible acceleration in buying volume. Currently, the asset is testing the key resistance of the MA25 (0.00000536). A close above 0.00000535 would open the door to a retest of the high at 0.00000540.
Do you think $SHIB will break through the MA25 resistance to continue the uptrend? Let me know your thoughts 👇
The $SHIB spot pair shows a +4.93% rebound, currently trading at 0.00000532 USDT.
Market metrics (24h):
24h High: 0.00000540
24h Low: 0.00000500
24h Volume (SHIB): 852.97B
24h Volume (USDT): 4.39M
Key technical levels (6-Hour Chart - 6h):
Current price: 0.00000532
Recovered dynamic support (MA7): 0.00000514
Long-term dynamic support (MA99): 0.00000523
Immediate dynamic resistance (MA25): 0.00000536
Recent consolidation low: 0.00000500
Wick high of the previous candle: 0.00000540
Outlook:
Shiba Inu has registered a strong bullish engulfing green candle on the 6-hour timeframe after forming a solid bottom at 0.00000500. The upward momentum has crossed above both the MA7 (0.00000514) and the MA99 (0.00000523), supported by a visible acceleration in buying volume. Currently, the asset is testing the key resistance of the MA25 (0.00000536). A close above 0.00000535 would open the door to a retest of the high at 0.00000540.
Do you think $SHIB will break through the MA25 resistance to continue the uptrend? Let me know your thoughts 👇
