The Shiba Inu (SHIB) token is negotiated, but a major momentum is lacking despite the efforts of buyers to establish strong support.
SHIB has established a solid support base between 0.00001265 and $ 0.00001270 in the last 24 hours, with technical models suggesting an upward extension potential.
Geopolitical tensions and changing trade policies create undulations on the markets of cryptocurrencies, with Shiba Inu emerging as a surprising beneficiary in the middle of uncertainty.
However, the cryptocurrency failed to maintain the gains above the single single mobile average of 100 days (SMA) at 0.00001332 and changed hands at 0.00001317 $ at the time of the editorial staff, representing a gain of 2.9% in the last 24 hours.
In addition, the price graph shows that the downward trend in the summits of May 12 is always intact.
Key technical information
- Notable support was established at $ 0.00001267, where buyers were constantly intervened during the first hours.
- Prices’ action was a clear rise with highest and higher ups, breaking the key resistance levels at 0.00001294 and 0.00001313 $.
- Initial consolidation period (01: 07-01: 34) established the support at $ 0.00001330, followed by an explosive escape at 01:35 with the highest peak in volume (14.6b).
- Price action has formed a clear ascending channel with higher hollows, culminating in a new local summit at 0.00001345.
- A slight benefit has emerged in the last minutes while the volume has decreased, which suggests a potential short -term resistance but the maintenance of a global upward structure.
