SHIB Bulls Break Bear Rule; Over 4% Gain Sparks Bullish Rally
- SHIB market sees bullish domination and increasing volatility.
- Looking at the Bollinger bands, traders should consider buying near the lower band and selling near the higher band.
- A positive CMF rating and approaching TRIX reading may attract more investors.
After a rough start to the day, bulls in the Shiba Inu (SHIB) market were able to end the bear rule seen in the early hours after establishing support around $0.00001038. During this market upturn, the SHIB price reached a 24-hour high of $0.00001108 before encountering severe resistance. This bullish domination, however, persisted as of press time, with SHIB valued at $0.00001088, a 4.38% increase.
If this positive sentiment continues, the $0.00001108 resistance level may be breached, and the next resistance levels may be at $0.00001150 and $0.00001200. Still, if market sentiment changes abruptly, SHIB may experience a correction and drop back to support levels at $0.00001050 and $0.00001000.
Owing to the spike and traders’ expectations of a bull rally, traders jumped into the market, generating a 4.50% increase in market capitalization to $6,417,519,153. The 24-hour trading volume increased by 31.73%…
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