- SHIB shows the potential to break the symmetrical triangle and surges more.
- The token trades above 200MA, and the RSI value is 50.39.
- SHIB bearish prediction is $0.00001057.
Shib Token tweeted on Twitter today that they will be hosting a celebration for the release of Shiba Eternity on October 6. They will also announce the 30 spot winners for the Shiba Eternity 30-second app preview or trailer contest.
Shiba Eternity is a strategy card game that allows users to switch between perfecting their deck-building skills and engaging in epic card battles.
Looking at the hourly chart of SHIB/USDT, SHIB is currently forming an ascending channel inside a bullish pennant. Ascending channels exhibit a distinct upward trend. Swing traders can trade between the pattern’s support and resistance levels or in the direction of a breakout or breakdown.
The above 1-hour chart shows that SHIB is now slightly trading above the 200 moving average, meaning that SHIB has a possible chance of going bullish soon. The RSI of SHIB/USDT is currently at 50.39, and the RSI line is sloped negatively lower than the moving average, which means the market has a few steps back before the actual bull run.
SHIB’s ADX is also seen in the chart above. The fact that SHIB is currently trading at 19.97 means that SHIB’s trading power is getting exhausted, demonstrating that SHIB can see a few dips in the future.
In terms of overall market capitalization, SHIB is ranked 14th on CoinMarketCap. At the time of writing, there are almost 549 trillion SHIB in circulation, with a value of $0.00001112. SHIB was traded for $201,550,214 in the previous twenty-four hours. Furthermore, the price has risen by 0.92 percent in the last 24 hours alone.
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