Shiba Inu about to print key signal on its short-term charts
SHIB's price steadily declined after touching highs of $0.0000113 on Aug. 12. Notably, SHIB identified a double top formation near this level, which triggered a drop.The declines caused SHIB to trade beneath its moving averages of 50 and 200 located at $0.00000849 and $0.00000968, respectively.
A bullish comeback might prompt SHIB to challenge these key areas as resistance in order to trend higher and confirm a retest of the $0.000011 levels. In this scenario, a close above the moving average might be regarded as the first sign of strength. Shiba Inu is also about to print a key signal on its short-term charts as the moving averages on its four-hour chart are set to cross. Perhaps the outcome of the golden cross or death cross will define the trend in the short term.Also, positive news about the Shibarium and SHIB ecosystem might serve as a catalyst for the price in the days ahead. Per the most recent update shared by Shiba Inu lead Shytoshi Kusama, Shibarium is now enhanced, optimized and almost ready to reopen to the public.
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