Shiba Inu (SHIB) is currently drawing significant attention from market analysts, not merely from social media trends, but from a compelling technical pattern emerging on its daily chart: a potential "golden cross." This development suggests a critical shift in momentum for the prominent meme coin, hinting at a more robust future trajectory.
The Golden Cross Formation
A "golden cross" is a pivotal technical indicator observed when a shorter-term moving average surpasses a longer-term one, signifying that recent price gains are strong enough to override the prevailing market trend. In SHIB's case, the 23-day simple moving average is ascending towards the 50-day line, a crucial movement bolstered by the asset's price already having reclaimed both averages. This setup is particularly noteworthy because golden crosses typically signal an end to selling pressure and the beginning of a period where buyers gain control, a trend that for SHIB commenced after its late December lows, where it resisted further depreciation.
Overcoming Resistance and Future Potential
Despite the promising "golden cross" setup, Shiba Inu faces an immediate challenge at the 200-day exponential moving average (EMA), located around the $0.0000106 level. This particular line has acted as a significant ceiling for SHIB's price appreciation since the fall. If the golden cross is confirmed and SHIB successfully maintains daily closes above this critical 200-day EMA, the technical landscape is expected to open up considerably. Beyond this point, resistance levels become progressively weaker, potentially bringing the much-anticipated "zero deletion" – reaching a five-zero price area – closer to reality. While still a developing scenario, this technical structure provides Shiba Inu with a clearly defined path forward, a promising prospect after weeks of uncertainty.
