Shiba Inu $SHIB has recently captured significant attention with its notable 12% price surge. This increase is particularly intriguing when considering the broader market's 4% gain.
A technical analysis of SHIB reveals a potential bullish Exponential Moving Average (EMA) cross, often referred to as the golden cross. This occurs when a shorter-term EMA, like the 50-day EMA, crosses above a longer-term EMA, such as the 200-day EMA.
The recent peak in SHIB's price establishes a foundation for potential resistance levels. Currently navigating within an ascending channel, SHIB finds steady support along the lower boundary. The immediate target for SHIB could be set at the recent high of 0.00001023.
It's crucial to monitor key support levels, including the lower trendline of the ascending channel and the 50-day EMA. These act as vital support zones, and sustaining levels above these points would affirm the positive trend.
Find a deeper dive into $SHIB recent moves and analysis on our blog: https://www.iconomi.com/blog/shiba-inu-s-notable-surge