$SHIB hits ceiling filled with bears, immediately retraces at local resistance level
The Relative Strength Index , a popular momentum indicator, currently sits in a neutral zone for Shiba Inu. This suggests that the asset is neither overbought nor oversold at the moment, hinting at a lack of clear direction from market participants., the second largest cryptocurrency by market cap, might be ready to embark on another upward journey.
A declining trading volume, combined with Ethereum's ongoing uptrend, could potentially trigger a positive volatility squeeze, pushing ETH prices higher. Market participants should, however, be aware that this scenario hinges on Ethereum maintaining its current uptrend and market sentiment remaining positive. A shift in either of these factors could alter the trajectory.
The 50 EMA is a widely followed technical analysis indicator used to gauge medium-term trend directions. A breakthrough above this line is often seen as a sign of bullish strength and could attract additional buying interest. In the case of MATIC, this recent movement above the 50 EMA is encouraging and could set the stage for further price appreciation.
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