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Shiba Inu [SHIB]: Evaluating positive effects of this pattern’s break

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The bearish resurgence from the $0.01195-mark pulled Shiba Inu [SHIB] toward its high liquidity range in the $0.01006-level. (For brevity, SHIB prices are multiplied by 1000 from here on).While the price action took a steep plunge below the EMA ribbons, the bears revealed their heightened vigor.The current setup reflected a tight phase near the Point of Control (POC, red).

Any reversals from the EMA resistances can inflict a bearish volatile break. At press time, SHIB traded at $0.01006.Source: TradingView, SHIB/USDOver the last month, SHIB has found an oscillation range in the $0.01195-$0.0077 region.

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