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Crypto: The fate of Shiba Inu could change on May 11 and 12!

Sat 11 May 2024 ▪ 3 min of reading ▪ by Luc Jose A.
Trading

The Shiba Inu cryptocurrency (SHIB) is at a pivotal moment in its history. In the coming days, specifically on May 11 and 12, this highly followed memecoin could face a major technical test that could influence its short-term future. As investors scrutinize the charts, anticipation builds: will the asset breach this critical threshold, or will market strategies have to be revised? The suspense is palpable!

Crypto : Shiba Inu face à un tournant majeur

SHIB Cryptocurrency Approaches Critical Technical Levels

Recently on the brink, Shiba Inu is heading towards a decisive moment as its 50-day Exponential Moving Average (50 EMA) looms on May 11 and 12. This level represents significant resistance for the crypto. A breakthrough beyond this threshold could trigger a significant bullish trend, thereby redefining market dynamics and boosting investor confidence in SHIB’s ability to continue its momentum.

SHIB currently benefits from strong support at the 100 EMA level, where it recently found a stable base. Historically, the 100 EMA has been a reliable point of rebound for the price of SHIB. The sturdiness of this support suggests that the crypto may aspire to test the 50 EMA in the coming days.

Whether SHIB can surpass the 50 EMA or not could determine its short-term direction. A failure could suggest a price pullback influenced by bearish forces, fostering a more cautious outlook among crypto investors.

Predictions of Increased Volatility

The recent narrowing of SHIB’s price ranges suggests an imminent period of consolidation, often a prelude to increased volatility. These price compressions indicate that investors are in wait-and-see mode, which can lead to significant price movements once new information or market developments occur. These movements are particularly expected around key technical levels like the 50 EMA.

In anticipation of these shifts, traders might witness a surge in volatility, propelling SHIB through decisive technical thresholds such as the 50 EMA. The success of this breakthrough could generate a powerful bullish momentum, while a failure would reinforce caution among market players, potentially leading to price corrections.

The period around May 11 and 12 is expected to be characterized by increased market player attention, with strategic adjustments in anticipation of possible developments. Investors and analysts will be particularly vigilant, monitoring technical signals and trading volumes in order to predict price movements after this compression phase, potentially decisive for the short-term trajectory of SHIB cryptocurrency.

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Luc Jose A. avatar
Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.