The Shiba Inu (Shib) token traded higher but strong momentum lacks despite consumer efforts to establish strong support.
The Shib has established a strong support base between $ 0.00001265 and $ 0.00001270 in the past 24 hours, with technical patterns that suggest potential for the ongoing upward momentum.
Geopolitical tensions and transfer of trade policies create ripples in cryptocurrency markets, with Shiba Inu emerging as a surprising beneficiary amidst uncertainty.
However, cryptocurrency failed to keep the acquisitions above the 100-day simple transfer of the average (SMA) at $ 0.00001332 and changed hands to $ 0.00001317 at the time of writing, representing a 2.9% gain over the past 24 hours.
Plus, the price chart shows downtrend from May 12 Highs is still intact.
Basic technical views
- The known support was established at $ 0.00001267, where consumers continued to walk in the early hours.
- Price action has generated a clear -up -to -lower lows and higher, destroying major resistance levels at $ 0.00001294 and $ 0.00001313.
- The initial integration period (01: 07-01: 34) established the support of $ 0.00001330, followed by an explosive breakout at 1:35 with the highest spike volume (14.6b).
- Price action is formed by a clear upward channel with higher lows, ending with a new local high at $ 0.00001345.
- Partial income extraction appeared in the last minutes as tap volume, suggesting potential short-term resistance but maintaining the overall bullish structure.
