Shiba Inu’s Wild Ride: Will the 100-Day Moving Average Hold?

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The Shiba Inu, a cryptocurrency known for its meme-worthy name and loyal following, is currently experiencing a rollercoaster ride as its price breaks above the critical 100-day moving average. This breakout marks an important shift in SHIB‘s market structure, but will it hold?

Historically, moving averages serve as dynamic support and resistance levels, and reclaiming the 100-day SMA often signals renewed upward potential. However, traders remain cautious, as maintaining this momentum is key to confirming a trend reversal. Any failure to hold above the moving average may invite renewed selling pressure, leading to a possible retest of support zones.

Market Sentiment Shifts: Are Shiba Inu Buyers Gaining Control?

Shiba Inu’s recent price movement above the 100-day moving average suggests a potential shift in market sentiment, with buyers showing renewed interest. Increased trading volume and a steady uptrend indicate that an upside trajectory could be building, challenging the previous dominance of sellers.

SHIB’s price trading above the 100-day SMA signals growing bullish momentum, turning this level into key support. Additionally, the MACD and signal line trending above the zero line reinforce positive sentiment, suggesting buyers are gaining control. If momentum holds, SHIB might sustain its upward move, but overcoming resistance remains crucial.

However, for buyers to fully take control, SHIB must sustain its gains to confirm a stronger uptrend. If the momentum continues, confidence in the market is likely to rise, attracting more investors and fueling further upside.

A decisive breakout above this level, supported by rising trading volume, could strongly confirm bullish strength. Such a move may trigger increased buying pressure, paving the way for an extended rally toward the immediate resistance level at $0.00001703. Additionally, breaking past this resistance could invalidate bearish expectations and set the stage for a potential test of higher resistance zones such as $0.00002045 and $0.00002631.

Support Zones To Watch In Case Of A Pullback

Should Shiba Inu face a pullback, key support zones will play a crucial role in determining whether the bullish trend can hold or if bears will take control. The first level to watch is the 100-day SMA, which has now turned into support. SHIB’s maintenance above this level signals strength and renewed buying interest.

However, when selling pressure increases, the next critical support zone lies around $0.00001272, where buyers might attempt to stabilize the price and prevent further downside. A break below this level will bring the price toward $0.00000847 or even lower. Holding above these support zones is essential for SHIB to sustain its bullish outlook and avoid a deeper correction.

In conclusion, the Shiba Inu’s price breakout above the 100-day moving average is a significant development, but it’s not time to break out the doggy treats just yet. Traders and investors should keep a close eye on key support and resistance levels, as well as trading volume, to determine whether the SHIB’s wild ride will continue or if the market will pull back. 🐕🚀

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2025-03-17 21:20