Shiba Inu (Shib) is facing a new pressure wave, despite the recent appearance of the bullish technical indicator. The token has fallen, although the recent chart formed a golden cross – a pattern that is often linked to upwards -.
The golden cross occurs when the short -term moving average exceeds the long -term moving average. In the case of Shibi, the 23-day sliding average has exceeded the 200-day, which refers to the potential for turning the bullish trends. But so far the price operation has not shown the expected result.
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Currently, Shib is trading near the $ 0.00001296, which is over 5%in recent sessions. The decline comes after a short rise, which saw that the symbol reaches about $ 0.00004 before the resistance point and fall.
Shib cannot benefit from the Crossover zone above the Crossover zone, which causes traders to worry that the Golden Cross can send a false signal due to the overall insecurity of the market.
Technical support sits around $ 0.00001274, which is consistent with the 23-day moving average. If it does not match this level, it can lead to more sales, with the next support level of about $ 0.00001107. The price is still about $ 0.00001360, which is the lowest after a while.
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The overall situation of honey coins is still a bit insecure: market participants closely monitor things such as trading volume, trend validation and general risk of appetite between digital assets.
Golden crosses are usually considered a good sign on the market, but they may actually be less important if investors feel insecure or when many short -term bets are made.
