Shiba Inu awaits a golden cross: A signal for you to buy $SHIB today? - AMB Crypto

🚀 Shiba Inu [SHIB] rose 3.5% in 24 hours and 12.2% over the past month, but it trailed Dogecoin’s [DOGE] 24% monthly surge. Despite trading under resistance, optimism remained for the coming weeks.

📈 Shiba Inu’s golden cross could signal an uptrend. The Awesome Oscillator showed bullish momentum, and the daily chart structure remained positive. Increased trading volume, surpassing September's levels, was promising as SHIB approached the $0.00002 resistance. However, the OBV stayed near August and September lows, indicating a need for stronger buying pressure for a breakout.

💡 A golden cross forms when the 50 and 200-period moving averages cross bullishly. Though it hasn’t happened yet, it could be a sign of a potential rally when it does.

⚠️ SHIB bulls face challenges. Although momentum was bullish, buying volume remained weak. The downtrend in the mean coin age since September suggested network-wide distribution. Short-term holders’ profits might incentivize selling, potentially delaying the breakout past $0.00002.