The Shanghai Inu price recently surged by 95%, reaching $0.000000003039, but soon encountered resistance. Let's discuss the current situation and potential prospects.
Shanghai Inu Price: Resistance Challenges
On the 1-hour timeframe, the SHANG/USD pair is trading at $0.000000003199, down 4.61% from the previous session. The price previously rallied sharply, reaching a peak near $0.0000000045, but has since retraced significantly. It is now approaching a critical support zone between $0.0000000012 and $0.0000000015. If this support holds, there is potential for a rebound. The 50-period moving average (blue) is being tested as the price declines, while the 200-period moving average (green) lies significantly lower, reflecting overall bullish long-term sentiment. The MACD indicator shows a bearish crossover, signaling growing bearish momentum.
Shanghai Inu Price: Potential for Recovery
The Relative Strength Index (RSI) is currently at 43.11, indicating bearish momentum but still in neutral territory. This suggests there is room for further downside before the market becomes oversold. Key support zone near $0.0000000015 will play a crucial role in determining the next move. If the price rebounds from this zone, it could target resistance levels at $0.0000000025 and $0.0000000035. However, if the support fails to hold, the price may drop further toward the next psychological level around $0.00000001. The short-term outlook remains bearish to neutral, with the support zone being a key level to watch for a potential reversal.
Crypto All-Stars Presale: Successful Fundraising
As Shanghai Inu takes a breather, traders are flocking to buy Crypto All-Stars (STARS), which has become one of the largest ICOs of the year, raising over $18.2 million. The platform's unique staking feature allows users to stake various popular meme coins in one place, with rewards paid out in STARS. Currently, STARS is priced at $0.0016782 and can be purchased using ETH, USDT, BNB, FLOKI, SHIB, PEPE, DOGE, or even a bank card.
The Shanghai Inu price faced resistance after significant growth. The current market state requires close attention to key support and resistance levels for predicting further movement.
