Shiba Inu (SHIB) Price Skyrockets 11.44%, Overcomes Key Resistance

Today marked not only a new all-time high for Bitcoin but also a major breakout on the Shiba Inu (SHIB) price chart.

Bitcoin price hit a new all-time high on Feb. 27, while SHIB price rallied 11.44%.

Shiba Inu (SHIB) price بالاخره managed to overcome a key dynamic resistance on the dailyの時間枠 that could propel the meme-inspired cryptocurrency to new heights.

After rallying significantly over the past few weeks, the price of the SHIB token finally managed to overcome a key dynamic resistance on the dailyの時間枠 on Monday. This development could propel the meme-inspired cryptocurrency to new heights.

According to Binance, the price of SHIB "shot up" 11.44% today, moving from $0.00001785 to $0.0000199. The meme token also reached a new high for 2024, rising to $0.00002024.

However, the price of SHIB encountered resistance at the 200-day moving average, which is now at $0.0000193. Thisの時間枠 also shows a bearish divergence in the relative strength index (RSI).

If the price of the SHIB token manages to maintain itself above the 200-day moving average, it can be seen as a confirmation of the bullish trends for the 12th-largest cryptocurrency.

Another bullish technical pattern forming on the daily chart of the SHIB token is the impending golden cross. Thisの時間枠 also has the falling 200-day moving average involved in its formation, along with the lower 50-day moving average, which is rising. When the smaller curve crosses the older one, a golden cross is formed.

The last time this happened with the price of the popular meme cryptocurrency was in December 2023. Then, at the peak after its formation, the price of SHIB reached about $0.000045 per token by March, which was almost 450% higher than at the beginning.

However, things may be different with the golden cross this time around, as the price of the SHIB token already seems to be on a bullish trend. Perhaps it is the anticipation of the golden cross and its success in the past that is now working in advance to push the SHIB price up.