Shiba Inu (Shib) The up -to -date price rally seems to prepare the terrain for a double -bottomed model, a major upward configuration.
The joke cryptocurrency increased by 18% this month, its best performance since November, prices earning more than 7% in the last 24 hours only, according to Coindesk data. The rally is consistent with the increase in risk taking on the cryptography market triggered by the Bitcoin rally at lifetime summits above $ 118,000.
The increase is characterized by robust trading volumes and an increase in chip burns, which have removed a large part of the traffic supply, according to research on Coindesk AI.
AI key badges
- SHIB jumped 7% during the previous period of 24 hours of July 10, from 12:00 to July 11, 11:00 a.m., from $ 0.0000,12476 to 0.000013399 on an exceptional volume of 1.904 token.
- An acute reversal was materialized in the last 60 minutes of July 11, 10:26 at 11:25, the shib decreasing 1% to settle at 0.000013385 $ as the liquidation pressure appeared.
- The chip burn mechanisms accelerated with more than 9.5 million sampon tokens permanently removed from traffic during the recent 24 -hour period, although the price impact has remained moderate.
Key levels
- A breakdown of resistance at $ 0.000013110 occurred on an exceptionally high volume of 1.904 Billion of tokens.
- The level of resistance supported by the established volume, twice approaching the average trading activity of 24 hours.
- A conventional support area was formed around $ 0.000013230, with resistance positioned at $ 0.000013580.
- The sustained ascending momentum suggests a potential continuation to a psychological level of $ 0.000014,000.
Double -bottomed bull reversal?
The up -to -date month of two -digit shorts follows a successful defense of the hollow in April at approximately 0.00001005, referring to the formation of a double background pattern on the daily graphic.
The pattern includes two almost equal hollows separated by recovery. An increase in prices thanks to the trend line connecting the culmination of the recovery would confirm the escape and an upward reversal.
In the case of SHIB, the so-called double-bottom resistance is marked by the May summit of $ 0.00001764. A passage through this level would signal a major bull race.
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