Shiba Inu Shows Price Rally Potential as Open Interest Surges 1.89%
- Price Movement Analysis: Shiba Inu's price fluctuated from a low of $0.000008499 to a high of $0.00008827 in the past 24 hours, currently trading at $0.00000864, reflecting optimistic market sentiment about its rally potential, which could attract more investors.
- Rising Trading Interest: According to CoinGlass data, open interest in Shiba Inu surged by 1.89% over the last 24 hours, reaching a total value of $109.75 million, indicating renewed investor confidence that may drive prices higher.
- Concentration of Trading Platforms: Gate exchange leads with 41.25% of open interest valued at $48.28 million, demonstrating strong interest from both institutional and retail investors in Shiba Inu, potentially providing support for future price increases.
- Technical Indicators Support: Bollinger Bands indicate that Shiba Inu's price is trading above slightly depressed upper bands, and if buying pressure continues, breaking through the psychological barrier of $0.00001 could trigger additional reactions from traders, further driving prices upward.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB) As of , Shiba Inu (SHIB) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000296 | 0.00000402 | 0.00000527 | 0.00000633 | 0.00000758 | 0.00000864 | 0.00000989 |
| Fibonacci | 0.00000402 | 0.0000049 | 0.00000544 | 0.00000633 | 0.00000721 | 0.00000775 | 0.00000864 |
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