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Mastering Crypto

08/07 12:15

Shiba Inu price analysis

Shiba Inu broke and closed above the overhead resistance of $0.0000085 on Aug. 4, indicating that the bulls are trying to start a new uptrend.

The bullish momentum picked up further on Aug. 5 and the SHIB/USDT pair soared to $0.000010. This move sent the RSI into the overbought territory, indicating that a minor correction or consolidation is possible.

If the bulls do not give up much ground from the current levels, it will signal that traders are holding on to their positions as they anticipate another leg higher. If the price breaks above $0.000010, the pair may surge to $0.000012 and then to $0.000014.1691410590420.png

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