Outside Source
SHIB buyers are back after defending the price at a key support.
Key Support levels: $0.000014
Key Resistance levels: $0.000018; $0.000020
1. Buyers are Back
After a difficult start in February, SHIB found good support at $0.000014 where buyers returned with conviction. Since visiting this level, the price has been moving higher which could turn into a major reversal. Should bulls continue to dominate, then the key resistance at $0.000018 will be their next major target.
2. Momentum is Turning Bullish
The daily RSI briefly fell in the oversold zone in the first week of February, but since then, it has been making higher lows. With the price also making sustained gains, buyers are becoming more confident. Another push and they could soon take the price above $0.000018.
3. Bullish Cross on Daily MACD
Another clear sign that the momentum is shifting can be seen on the daily MACD which did a bullish cross this week. As long as the MACD histogram makes higher highs, buyers have the advantage. To confirm that this reversal has good momentum, SHIB will have to move above $0.000020 in the future.
This article first appeared at CryptoPotato
