Shiba Inu Bulls Seek Revival Amidst a Temporary Setback
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Market Analysis – Bullish Momentum Slows Down
Shiba Inu bulls seek revival amidst a temporary setback. The crypto asset is currently experiencing a temporary setback as the buyers lose momentum and the sellers make their presence known. However, the bulls remain in a stronger position and are likely to eliminate the sellers if the price trades close to the significant level of $0.00000970.
Shiba Inu Key Levels
Resistance Levels: $0000001070, $0.00001130
Support Levels: $0.00000800, $0.00000660
The buyers have maintained a bullish cycle for months, showing resilience and strength. From the significant level of $0.00000660, the buyers regained their momentum and pushed the price higher. However, their progress was hindered last week as they failed to breach the significant zone of $0.0000110. This allowed the sellers to challenge the buyers and push the price down to the significant zone of $0.0000090.
Despite the temporary setback, the buyers are still on the verge of a strong recovery. The Chainkin Money Flow Index indicates that the buyers continue to control the market direction while the sellers gradually build pressure. The buyers maintain a dominant position in the market.
To regain their winning ways, the buyers need a strong catalyst that can revive their momentum. Following the pullback, the buyers are eagerly looking for an opportunity to continue their upward ride.
Market Expectation
Crypto investors in Shiba Inu should closely watch out for potential catalysts that could reignite the bullish momentum. While the sellers may be exerting some pressure, the overall dominance of the buyers suggests that their recovery is highly plausible.
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