Is Shiba Inu a Buy or a Sell? Data That Shows a Major Conflict, Explained
- The Shiba Inu team is keen to expand SHIB’s utility across Asia.
- The Shiba Inu ecosystem has grown over the years, with over 1.5 million on-chain holders.
- Crypto experts believe the SHIB price will record a bullish breakout if the Fed leads in rate cuts this month.
Shiba Inu (SHIB) is currently flashing major bearish signals, but the project’s team is telling the market to look ahead to a bullish fourth quarter. While the price is stuck below key moving averages and derivatives data looks negative, the team is pointing to a major market expansion in Asia and a classic bullish chart pattern as the catalyst for a “crypto Autumn” rally.
The Bear Case: Why the Current Chart Looks Weak
The short-term picture for SHIB is not pretty. The token has been in a downtrend since February 2024 and key metrics are signaling continued weakness.
What is the price action telling us?
SHIB is trading below its 50-week simple moving average, a key long-term trend indicator. On the four-hour timeframe, the price is trapped below a falling logarithmic resistance trend. A break above this line is required to invalidate the current bearish sentiment.
What is the derivat…
The post Is Shiba Inu a Buy or a Sell? Data That Shows a Major Conflict, Explained appeared first on Coin Edition.
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Shiba Inu Price Prediction: SHIB Consolidates Near $0.00001240 as Traders Watch Breakout Signal
Is Shiba Inu a Buy or a Sell? Data That Shows a Major Conflict, Explained
- The Shiba Inu team is keen to expand SHIB’s utility across Asia.
- The Shiba Inu ecosystem has grown over the years, with over 1.5 million on-chain holders.
- Crypto experts believe the SHIB price will record a bullish breakout if the Fed leads in rate cuts this month.
Shiba Inu (SHIB) is currently flashing major bearish signals, but the project’s team is telling the market to look ahead to a bullish fourth quarter. While the price is stuck below key moving averages and derivatives data looks negative, the team is pointing to a major market expansion in Asia and a classic bullish chart pattern as the catalyst for a “crypto Autumn” rally.
The Bear Case: Why the Current Chart Looks Weak
The short-term picture for SHIB is not pretty. The token has been in a downtrend since February 2024 and key metrics are signaling continued weakness.
What is the price action telling us?
SHIB is trading below its 50-week simple moving average, a key long-term trend indicator. On the four-hour timeframe, the price is trapped below a falling logarithmic resistance trend. A break above this line is required to invalidate the current bearish sentiment.
What is the derivat…
The post Is Shiba Inu a Buy or a Sell? Data That Shows a Major Conflict, Explained appeared first on Coin Edition.
Read More