A possible boost for Shiba Inu’s price could happen around April 17, according to what we see on the charts. Around that time, the 50-day Exponential Moving Average (EMA) might meet up with the current price of SHIB. If this happens, it could mean good news for SHIB’s price, giving it a price zone to rely on when moving upwards.
Moving averages serve as local levels of price support; they typically provide dynamic levels of support and serve as benchmarks for investors to buy at or sell off of their positions. This convergence with the 50 EMA is significant for SHIB. The notion that the price might not drop below this specific level could reassure traders. As a result, more individuals could wish to purchase
If SHIB can truly rely on this EMA line for support, we might witness some growth. This support could facilitate a quicker price increase. Regretfully, it is impossible to predict with certainty if SHIB would rise after reaching the 50 EMA. Being cautious could be crucial in this situation though, as SHIB is known for its volatility and abrupt price reductions.