Shiba Inu (SHIB) May Surge Higher to $0.00005 If 100DMA Clamps
- SHIB price tries a bounce, though 21DMA appears challenging to crack.
- SHIB's daily technical formations indicate an imminent range breakout.
- The meme coin remains hopeful as bulls defend the vital 100DMA stopper.
The Dogecoin-competitor extends its consolidation price moves on Saturday. That came as bears contemplated the battle following the 4 December market crash that saw SHIB at $0.0000295.
Meanwhile, Shiba Inu posts nearly 2.5% gains per day, trying to bounce off 1-week lows. While publishing this content, the dog crypto trades at $0.0000350 after reversing the declines suffered within two consecutive days.
SHIB's latest fall has been an opportunity for wealthy investors to add their holdings. On Thursday, an ETH whale bought Shiba Inu tokens worth around $1.8 million. The investor rook advantage of the 17% plunge in SHIB's price over the last week.
SHIB Still Stuck between 2 Vital Averages, Awaiting a Breakout
According to SHIB's daily price chart, bulls try another upswing attempt, eying the ATHs of $0.0000885. For now, the alternative coin awaits a lucrative price catalyst to overcome its current range near $0.0000350.
Keep in mind that the dog crypto has traversed within a narrow range, with the down-sloping 21-day MA at $0.0000400 guarding the upside. Meanwhile, bullish traders receive support from the ascending 100-day Moving Average at $0.0000315.
The 14-day RSI inches high towards the middle line, and bulls may dominate if they reclaim the 50-mark. Nevertheless, Shiba Inu bulls require a daily close beyond the 21-day Moving Average obstacle to deny the short-term bearish bias.
Another 'buy' opportunity can then emerge, catalyzing an upswing in SHIB towards the slightly bullish 50-day Moving Average at $0.0000488. The next considerable stop for Shiba Inu might appear at 30 November peaks at $0.0000543.
Bears regaining control can translate to a continuous fall will mean breaking under the 100-day Moving Average. If SHIB sees deeper plummets, the plunging trend-line footing, connecting 4 November and 4 December low, near $0.0000261 might rescue bulls. That way, sellers can eye the 200-day Moving Average at $0.0000196 as the next massive upward barrier.
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