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Cryptocurrency News Articles
Is Shiba Inu (SHIB) Breaking Out? Today's 20% Price Rise Brings Up the Question
Sep 27, 2024 at 06:29 am
Today's rise of 20% in the price of Shiba Inu Coin (SHIB) brings up the question whether SHIB is breaking out. Chart patterns are mixed: yes and no is the answer to the question whether a breakout is happening in SHIB.
Shiba Inu Coin (SHIB) price rose 20% on Monday, continuing a strong rally that has seen the meme coin surge by more than 100% in the past week. However, SHIB’s technical chart patterns are sending mixed signals, leaving traders wondering whether the coin is truly breaking out.
Some traders believe that SHIB is on the verge of a major breakout, pointing to the coin’s strong momentum and the breakout from a key downtrend line on the daily chart. However, other traders are more cautious, noting that SHIB still faces resistance at a key Fibonacci level and that the coin’s recent rally has been largely driven by hype and speculation.
In this article, we will take a closer look at SHIB’s technical chart and assess the likelihood of a breakout. We will also discuss the potential implications of a breakout for SHIB’s price.
Shiba Inu Coin (SHIB) price rallied on Monday, continuing a strong rally that has seen the meme coin surge by more than 100% in the past week. However, SHIB’s technical chart patterns are sending mixed signals, leaving traders wondering whether the coin is truly breaking out.
Some traders believe that SHIB is on the verge of a major breakout, pointing to the coin’s strong momentum and the breakout from a key downtrend line on the daily chart. However, other traders are more cautious, noting that SHIB still faces resistance at a key Fibonacci level and that the coin’s recent rally has been largely driven by hype and speculation.
In this article, we will take a closer look at SHIB’s technical chart and assess the likelihood of a breakout. We will also discuss the potential implications of a breakout for SHIB’s price.
Shiba Inu Coin (SHIB) price rose 20% on Monday, continuing a strong rally that has seen the meme coin surge by more than 100% in the past week. However, SHIB’s technical chart patterns are sending mixed signals, leaving traders wondering whether the coin is truly breaking out.
Some traders believe that SHIB is on the verge of a major breakout, pointing to the coin’s strong momentum and the breakout from a key downtrend line on the daily chart. However, other traders are more cautious, noting that SHIB still faces resistance at a key Fibonacci level and that the coin’s recent rally has been largely driven by hype and speculation.
In this article, we will take a closer look at SHIB’s technical chart and assess the likelihood of a breakout. We will also discuss the potential implications of a breakout for SHIB’s price.
Shiba Inu Coin (SHIB) price rallied on Monday, continuing a strong rally that has seen the meme coin surge by more than 100% in the past week. However, SHIB’s technical chart patterns are sending mixed signals, leaving traders wondering whether the coin is truly breaking out.
Some traders believe that SHIB is on the verge of a major breakout, pointing to the coin’s strong momentum and the breakout from a key downtrend line on the daily chart. However, other traders are more cautious, noting that SHIB still faces resistance at a key Fibonacci level and that the coin’s recent rally has been largely driven by hype and speculation.
In this article, we will take a closer look at SHIB’s technical chart and assess the likelihood of a breakout. We will also discuss the potential implications of a breakout for SHIB’s price.
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- Sep 27, 2024 at 10:15 am
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- Cardano (ADA) Price Poised to Break Out As On-Chain Metrics Signal a Potential Altseason
- Sep 27, 2024 at 10:15 am
- After last week's interest rate cut, optimism has surged among analysts and investors, with many anticipating strong upward momentum for the altcoin.
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- Crypto Analyst Kaleo Predicts Bitcoin (BTC) Will Repeat 2023 End-of-the-Year Pattern and Hit Six Figures After US Presidential Election
- Sep 27, 2024 at 10:15 am
- Pseudonymous crypto trader Kaleo tells his 649,500 followers on the social media platform X that Bitcoin may repeat an end-of-the-year pattern from 2023 and print fresh all-time highs (ATHs).
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- Dogecoin, Catizen, and BlockDAG: Which Coin Will Whales Choose?
- Sep 27, 2024 at 10:15 am
- Dogecoin, one of the best meme coins, is in the spotlight, with its price predictions suggesting it may either break through key resistance or face a potential drop.
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- Ethereum, Dogecoin, Bitcoin Paint Pivotal Chart Patterns, Market At Crossroads
- Sep 27, 2024 at 10:15 am
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- South Korea Fines Worldcoin $830,000 for Violating Data Privacy Laws
- Sep 27, 2024 at 10:15 am
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- Grayscale Expands Digital Asset Portfolio for Q4, Spotlights 20 Assets Expected to Outperform
- Sep 27, 2024 at 10:15 am
- Considerations such as probable catalysts, network adoption, possible risk factors, and so on are taken into consideration by the research arm of the top asset management while assembling its list.