Shiba Inu’s RSI indicator has hit 50, signaling a balance between buyers and sellers, a crucial moment for the next price move. SHIB price peaked at $0.00000582 on July 26 before retreating, and is currently holding around $0.00000467, up 1.62% in the last 24 hours. Key resistance levels ahead stand at $0.000005, $0.00000516, $0.00000561, and $0.00000582, with support expected at the daily 50-day moving average of $0.00000447. The weak U.S. macroeconomic backdrop, with July nonfarm payrolls dropping 23,000 versus a forecast of +80,000, is supporting the bullish trend in cryptocurrencies.
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