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Key upcoming Shiba Inu dates that could determine its short-term trajectory are May 11 and 12, pivotal days when SHIB is expected to approach and potentially challenge a major technical barrier: the 50-day Exponential Moving Average.
Currently, SHIB has found support at the 100 EMA, a sign that suggests upward movement might be on the horizon. The 100 EMA has historically acted as a strong foundation from which the price can rebound, and recent patterns suggest that SHIB is poised for such a move. With this level providing a bounce, there is a realistic expectation that SHIB will test the 50 EMA within the next couple of days.
The significance of the 50 EMA cannot be overstated for SHIB. It represents the most formidable resistance level facing the token at the moment. A break above this threshold could signal a significant bullish trend, but a failure to surpass it might reinforce a bearish outlook due to the breakdown below crucial resistances.
Gamza KhanzadaevAdding to the anticipation are the narrowing price bands SHIB has been experiencing. This narrowing typically precedes a period of heightened volatility as the price consolidates before making a substantial move. With the price compression becoming increasingly tight, a volatility explosion is highly likely. Such movements are often catalysts for breaking through significant technical levels like the 50 EMA.
These dates could be crucial for Shiba Inu as they might not only shape immediate price actions but could also set the tone for its medium-term market positioning.
Alex Dovbnya
Gamza Khanzadaev
Tomiwabold Olajide
