Shiba Inu prints surprising signal despite price climb
has printed a surprising signal on its price charts, having formed a bearish crossover, or"death cross," on its four-hour chart.
Shiba Inu was among the gainers on the market, while several crypto assets traded in the red, which was surprising. A death cross is a chart pattern that occurs when a short-term moving average crosses below a longer-term moving average. In the case of the Shiba Inu price, its four-hour moving average 50 has crossed the MA 200, confirming a bearish crossover.In theory, an implication of this might be a further sell-off, but several instances prove otherwise.
On Aug. 22, Shiba Inu began a comeback after a few days of battling to regain its footing. The recovery continued as of the time of publication, withThe first sign of strength would be a break above the daily moving averages of 50 and 200 at $0.0000084 and $0.0000096, respectively. Per the most recent update shared by Shiba Inu Lead Shytoshi Kusama, Shibarium is now enhanced and optimized and almost ready to reopen to the public.
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