$SHIB can't get enough support from investors on the market, which led to reversal toward the first support level on the chart
has been garnering attention as it sees an impressive surge off its local bottom at $0.0000065. The token has already racked up a gain of approximately 30%, generating renewed interest among the crypto community.
However, a quick reversal at the $0.00000840 price level, which aligns with the 50-day Exponential Moving Average resistance level, has put SHIB back on the 21-day EMA support level. As it stands, the short-term trajectory ofEMAs are significant in technical analysis as they are more responsive to recent price changes than simple moving averages. They place more weight on the latest data points, which makes them particularly useful in fast-moving markets such as cryptocurrencies.
The 21-day EMA level is particularly important for SHIB. Maintaining this support could trigger further buying interest and provide the momentum needed for the meme coin to challenge the 50-day EMA resistance once more. A successful breach of this level could set the stage for a more substantial uptrend.
Conversely, if SHIB fails to hold above the 21-day EMA support, it could indicate a bearish trend in the short term. Such a downturn could push the price toward its local bottom, leading to a period of consolidation before any further significant price action.The BLUR NFT marketplace, known for its innovative technological approach and competitive pricing, recently witnessed an impressive surge in both volume and market capitalization.
One of the driving forces behind this robust growth can be attributed to escalating interest in the NFT market, which has seen a considerable resurgence in popularity recently. This resurgence has catalyzed a heightened trading volume on platforms like BLUR, particularly known for its seamless and user-friendly interface. However, the main source of buying power is most likely tied to the listing on Upbit exchange.
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