- SHIB aims to break $0.000028 and target $0.000036 by April’s end.
- The recent 24% surge contrasts with broader market stagnation post-Bitcoin halving.
- Technical indicators and trader sentiment suggest a potential for SHIB’s upward momentum.
Shiba Inu (SHIB) is once again in motion, aiming to surpass the critical threshold of $0.000028 as it sets its sights on reaching $0.000036 before April’s end.
Following Bitcoin’s recent halving, the cryptocurrency market had been stagnant, but SHIB injected a spark of activity with a remarkable 24% surge on Sunday. However, this momentum quickly tapered off, leaving SHIB at $0.00002748 on Tuesday.
In recent weeks, SHIB‘s price performance has been turbulent, witnessing a significant drop from its 2024 peak of $0.00004563 to test support levels near $0.00002. However, this decline reflects broader market trends, as the crypto market grapples with downturns exacerbated by geopolitical tensions and the aftermath of Bitcoin’s halving.
Technical indicators suggest potential resistance around the $0.000028 mark, but traders remain hopeful for a breakthrough. The 20-day EMA provides support around $0.000026, reinforced by the 200-day EMA and the 50-day EMA to mitigate further losses.
Traders closely monitor SHIB’s movement against key resistance levels and technical signals. A break above the descending trendline could signify increased trader risk appetite, fueling upward momentum toward the $0.000036 target.
Read CRYPTONEWSLAND on
google news
Additionally, confirmation of bullish sentiment may come from the MACD indicator, with a blue MACD line crossing above the red signal line in the four-hour range. In the short to medium term, important targets for SHIB include $0.00003 and $0.000032, with the overarching aim of sustaining momentum towards the higher resistance at $0.000036.
Read also:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
