According to CryptoPotato, Shiba Inu (SHIB) has been experiencing a flat trend in the past two weeks, with its price moving sideways between key support and resistance levels. The support at $0.0000087 has held well, and buyers may attempt to challenge the resistance at $0.0000095 in the near future. Since the most recent high in December, Shiba Inu's volume has been declining, and volatility has also decreased substantially, indicating that pressure may be building up for a major move later on.
The MACD histogram on the daily timeframe is flat, which is expected given the sideways price movement. However, the MACD moving averages painted a bullish cross in late January, which could be a promising sign for buyers. The bias for SHIB is currently neutral, and buying volume needs to return for the price to move higher. Until then, the sideways movement is likely to persist.
