SHIB surges 5% after mid-day dip, defying economic tensions
|Geopolitical tensions and shifting trade policies continue to influence markets, with Shiba Inu 's SHIB token demonstrating remarkable resilience amid broader economic uncertainty.
After experiencing a significant mid-day sell-off, SHIB staged an impressive recovery during the 22:00 hour, surging 3.0% on nearly 900 billion in volume before establishing a new resistance level at $0.0000147.
Technical analysis highlights
- SHIB established a trading range of 0.000007 (5.24%) between the low of 0.0000139 and high of 0.0000147 over the 24-hour period.
- The token experienced a significant sell-off during the 15:00 hour, dropping to its lowest point before finding strong volume support.
- A decisive recovery occurred during the 22:00 hour where price surged 3.0% on nearly 900 billion in volume.
- Bullish momentum continued into the final hours, with SHIB establishing a new resistance level at 0.0000147.
- In the last hour, SHIB experienced notable volatility with a 4.5% price swing between the low of 0.00001453 and high of 0.00001463.
- After establishing support at 0.00001455, SHIB staged a strong recovery beginning at 01:26, surging to 0.00001463 by 01:46 on increasing volume that peaked at 30.15 billion.
- Momentum faltered in the final 15 minutes as selling pressure emerged, creating a descending channel that brought prices back to 0.00001457.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.