Shiba Inu (SHIB) Key Metric Loses 48%: Is Bullish Reversal Over?

Share

Shiba Inu’s seven-day moving average of mean exchange outflows has declined by approximately 42% to 48%, weakening a key signal that had supported the bullish reversal. Total netflow remains extremely negative at roughly -62.5 billion SHIB, indicating that withdrawals are still ongoing but less intense than before. SHIB is currently trading around $0.00000535 after briefly surpassing $0.0000060 during the rally, facing the long-term moving average at $0.00000573 as the primary technical barrier. The RSI has cooled to approximately 60, alleviating short-term overbought conditions. While the improved technical structure remains intact, momentum has faded, and a loss of the $0.0000049-$0.0000050 area would signal a failed breakout.

Source: Read the original article

Telemac
Telemachttp://cryptoinfo.ch
Passionné de nouvelles technologies, j’explore l’univers de la blockchain et des cryptomonnaies pour partager l’actualité et les innovations du secteur.

Lire la Suite

Articles