The Shiba Inu(SHIB) buyers were struggling to overcome a $0.0000273 resistance, which resulted in a long-tail rejection candle on March 29th. However, the uncertainty resolved, and the buyers reattempted to breach the overhead resistance with today’s long bullish candle.
Key points:
The positive crossover among the 20-and-50 EMA encourages the ongoing rally
The $0.0000293 breakout hints at another 20% rally.
The intraday trading volume of the Shiba Inu coin is $3.9 Billion, indicating a 162.9% gain.
Source- Tradingview
The SHIB price started a new recovery rally on March 16th, after spending the first half of March in decline. The bulls knocked out a series of resistance on their ways, such as $0.000023, $0.000025, and 200-day EMA.
On March 29th, the coin chart displayed a long-tail candle closing below the $0.0000273 resistance. However, even after facing strong rejection, the buyers regrouped and breached the overhead resistance again. Anyhow, the long traders should wait fo
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