The post Why is Shiba Inu not Breaking the Current ATH? appeared first on Coinpedia Fintech News
One of the most famous dog themed meme coin Shiba Inu is finding it hard to cross a major resistance. Once it is passed, the memecoin will be one step away from creating a new all time high. Even though the indicators are looking bullish, why SHIB is unable to cross this line, let’s try to find out.
What Does the Chart Say?
The daily chart for Shiba Inu shows that RSI is standing at 61.97 and it is in a downtrend. This implies the bullish strength is reducing over time. However the Average Directional Index is on the rise. There are chances that the memecoin is taking a rest and gathering energy for a powerful market momentum. Comparing the price movement for the last few days with the movement of RSI, we can see a diversion. The price was moving up when the RSI was moving down. This shows the memecoin has been overbought by the community. In such a case there are two scena
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