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Weakness in SHIB’s Trend Reversal, TAMA Is Getting Hotter and Hotter

Weakness in SHIB’s Trend Reversal, TAMA Is Getting Hotter and Hotter

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SHIB is trying to reverse its current downtrend. However, this cancellation attempt seems weak. This is reflected in the trading indicators and requires a closer look.

Shiba Inu prediction statistics information:
Shiba Inu current price: $0.00001072
SHIB’s market cap: $5.94 billion
Shiba Inu orbit: 549.06 billion
Total supply of Shiba Inu: 589.74 trillion
SHIB’s Coinmarketcap Rank: #14

Main values:
Resistance: $0.00001072, $0.00001120, $0.00001175
Support: $0.000050 $0.00001020 $0.000010000

SHIB is trying to reverse the trend, TAMA is in the trend

Since around the 12th of this month, SHIB/USD’s daily price action has moved downward towards lower supports. Buyers have also tried to initiate a cancellation, which ultimately failed. Looking at the daily chart, it looks like the price action has hit strong support, which seems to be triggering some buy orders. As a result, this has led to the formation of the last bullish candle. In addition, the curves of the stochastic indicator intersect when oversold. At this point, this leads to an upswing. Therefore, traders can trap the upcoming trend by placing a pending buy at around $0.00001110.

SHIB trend reversal weakness, TAMA is getting hotter and hotter

Shiba Inu Price Analysis: Buyers Fight Hard in SHIB/USD Market

The SHIB/USD four-hour chart reveals a dispute between buyers and sellers. However, it seems that buyers managed to stay on top of this battle. Also, this has resulted in the price getting to where it is. The last green candle on this chart managed to touch the MA of the Bollinger indicator, which accepts a possible price rally.

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The RSI continues to depict the battle between the bears and the bulls. This is manifested in the irregular movement of its lines as it moves upwards. Although the market appears fragile, as the RSI has now reached significantly overbought levels, we can expect the price to rise further. Traders can anticipate reaching the $0.00001140 price level.

Bitcoinist, BeInCrypto, NewsBTC and crypto influencers have also highlighted Tamadoge on social media. Jacob Crypto Bury above notes that a Tamadoge purchase equivalent to 55.8 ETH was recorded on Etherscan on Sunday.

Related

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