According to CryptoPotato, the Shiba Inu (SHIB) coin has managed to halt its recent downtrend this week. The price of SHIB has been on an upward trajectory throughout the week. Despite pressure from sellers, SHIB continues to hold its position and move sideways under the key resistance level of $0.000025. The coin made a higher low and now appears determined to maintain its position. If sellers exert further pressure, the meme coin has strong support at the $0.000022 level.
The momentum indicators for SHIB are currently flat, indicating a level of indecision among market participants. At present, neither bulls nor bears appear to have a clear advantage. However, this state of equilibrium is unlikely to persist for long.
The daily Moving Average Convergence Divergence (MACD) for SHIB is also flat, with the histogram closely aligned with the zero level. The moving averages are also moving without a clear direction. Market watchers are advised to wait and see what type of trend will form to determine the future direction of the coin's price.