Shiba Inu (SHIB) Might Skyrocket if This Happens, Dogecoin (DOGE) Lost 15% but It's Ok, Bitcoin (BTC) $70,000 Comeback After This?

Shiba Inu Poised for Volatility Spike; Moving Averages Converge

Shiba Inu has been on the mend in recent weeks after a notable upswing in September. Traders are keeping a close eye on the cryptocurrency as its key moving averages on the chart converge, signaling a potential spike in price volatility.

Historically, moving average convergence has often preceded an approaching spike in price volatility. On the current chart, SHIB's moving averages, particularly the 50-100 and 200-day EMAs, are coming closer together, indicating a technical setup that typically occurs before a breakout.

This pattern often acts as a precursor to a significant price movement as the market gathers enough momentum to push past resistance levels or drop towards support. A successful breakout from this convergence could lead to a substantial price increase for SHIB, with crucial resistance levels around $0.000018 and $0.000019. Previous：The latest price of Dogecoin at 12:00 on November 4, 2024 Next：Dogecoin Poised for Rally to $0.2 as Analysts Identify Key Support Levels