Shiba Inu (SHIB) Mini-Golden Cross: Useless or Salvation? - U.Today

• Shiba Inu’s upcoming hurdles
• Bulls land safely Even though Shiba Inu is still declining, it is displaying a setup that might yield realistic returns. On the daily chart, a mini-golden cross appears to be forming. In this variant, the 50-day EMA crosses above the 100-day EMA, in contrast to the classic golden cross where the 50-day EMA surpasses the 200-day EMA. In more general bearish periods, it still signals an improvement in short-to-medium-term momentum despite historically being a weaker bullish signal.

Shiba Inu’s upcoming hurdles

SHIB has been slipping back after battling against resistance levels in the $0.000013-$0.000014 range, and it is currently trading close to $0.0000124. Although the price is still stuck in a downward channel, and buyers are being pressured by lower highs, the EMA crossover indicates that bullish forces are still present. This discrepancy between a supportive moving average signal and bearish price action presents traders with both opportunity and uncertainty.

The relative strength index (RSI), which indicates neither extreme overbought nor oversold conditions, is circling near neutral territory. The tapering off of trading volumes in comparison to July suggests consolidation instead of aggressive capitulation. This lends credence to the theory that SHIB might be getting ready for a major shift after the current sideways structure settles.

Bulls land safely

Bulls will need to defend immediate support near $0.0000120, which is in line with the channel’s lower trendline, if the mini-golden cross holds. If SHIB breaks below this level, it may be vulnerable to more significant retracements in the direction of $0.0000105. To turn around overall sentiment, the first step would be to clear the resistance cluster between $0.0000135 and $0.0000140. SHIB may be able to retest $0.000016-$0.000018, where more intense selling pressure is anticipated, if it breaks out of the descending channel.