[Technical Analysis] SHIB/USD Market January 02, 2024

wahyunahrul (70)Private First Classin Account Booster 👍 • 4 months ago

Hey Guys..!!

Meet again with me Wahyu Nahrul, This time I want to make a brief technical analysis of a cryptocurrency chart, the analysis I made is based on my experience and knowledge.

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Alright, let's get straight into the discussion, Happy reading!!

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Shiba Inu (SHIB) Analysis

Today, January 02, 2024, I will try to analyze the price movement of Shiba Inu.

SOURCE: TradingView

Shiba Inu which is a Meme Token type cryptocurrency is in a fairly severe Bearish Phase, we can see this in the SHIB/USD chart above where the SHIB price continues to experience a very deep decline.

SOURCE: TradingView

The first proof we can get is from the EMA indicator with a cross between the EMA 100 and 200, resulting in the Death Cross.

SOURCE: TradingView

In addition, the RSI indicator also strengthens the signal given by the RSI indicator where the RSI line is starting to move upwards toward the Upper Band, which is a very positive thing for the SHIB/USD market.

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Disclaimer:

This analysis is not an invitation to buy or sell any asset, it is just a short analysis intended for learning. Remember! don't use the analysis I did as a benchmark in investing or trading, always do your analysis and research first before making any decisions.

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#cryptocurrency #shib #shiba-inu #technical-analysis #chart