Shiba Inu’s next key dates that could determine its near-term trajectory are May 11 and 12, crucial days when SHIB is expected to approach and potentially challenge a major technical barrier: the 50-day exponential moving average.
Shiba Inu’s next key dates that could determine its near-term trajectory are May 11 and 12, crucial days when SHIB is expected to approach and potentially challenge a major technical barrier: the 50-day exponential moving average.
Currently, SHIB has found support at the 100 EMA, a sign that suggests a bullish move could be on the horizon. Historically, the 100-day EMA has acted as a solid base from which the price can recover, and recent patterns suggest that SHIB is primed for such a move. Since this level provides a bounce, there is a realistic expectation that SHIB will test the 50 EMA in the coming days.
The importance of the 50 EMA for SHIB cannot be underestimated. It represents the most formidable level of resistance the token is facing at the moment. A break above this threshold could indicate a significant uptrend, but failure to surpass it could reinforce a bearish outlook due to the break below crucial resistances.
Adding to the anticipation is the narrowing of price bands that SHIB has been experiencing. This narrowing typically precedes a period of increased volatility as the price consolidates before making a substantial move. As price compression becomes tighter, an explosion of volatility is very likely. These moves are often catalysts to break through important technical levels like the 50 EMA.
These dates could be crucial for Shiba Inu, as they could not only shape immediate price actions, but could also set the tone for its market positioning in the medium term.
