Shiba Inu golden cross formed on the hourly chart as the short-term SMA crossed above the long-term SMA, pushing SHIB price to $0.0000135 amid Powell’s dovish remarks and growing Fed rate-cut expectations, triggering a large short squeeze and rapid buying pressure across crypto markets.
Hourly golden cross appeared after Powell’s dovish tone, sparking strong buying in SHIB/USD.
SHIB spiked to $0.0000135 following aggressive buying and a major short liquidation, then saw two days of profit-taking.
The 50-day and 200-day SMAs on the daily chart are converging, signaling a potential golden cross or death cross ahead.
Shiba Inu golden cross signals bullish momentum after Powell’s remarks; read SHIB price action, SMA analysis, and trading steps to respond. Stay informed.
Shiba Inu forms a golden cross on its hourly chart as renewed rate cut hopes and Powell’s remarks drive buying pressure across crypto markets.
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- Shiba Inu’s hourly golden cross emerged following Powell’s dovish remarks and heightened market expectations for a September Fed rate cut.
- SHIB/USD reached $0.0000135 after sharp buying and a 2,491% short liquidation, before entering a two-day profit-taking correction.
- The daily SMA 50 and SMA 200 are converging, signaling the potential for either a bullish golden cross or a bearish death cross soon.
What is the Shiba Inu golden cross?
Shiba Inu golden cross is a technical signal where a short-term moving average crosses above a long-term moving average, suggesting bullish momentum. On the hourly chart the crossover followed heavy buying after dovish comments from Fed Chair Jerome Powell, producing a rapid SHIB price advance to $0.0000135.
How did Powell’s remarks and Fed rate-cut hopes affect SHIB price?
Powell’s dovish tone at Jackson Hole shifted market expectations toward a September rate cut, improving risk appetite across crypto. Traders priced in easing monetary policy, amplifying buying pressure in speculative tokens like Shiba Inu and triggering a large short squeeze that magnified the hourly golden cross.
Short squeeze contributes to SHIB’s sharp rise
A forced liquidation of short positions intensified upward momentum. Reported short-liquidation events showed extreme percentage moves during the spike, underlining how leveraged positions can exacerbate volatility in altcoins. Volume surged as shorts were closed, then profit-taking pushed SHIB into a short correction.
The daily chart now sits at a technical crossroads. The 50-day SMA and 200-day SMA are drawing closer, creating a scenario where a daily golden cross could confirm a medium-term bullish trend, while a death cross would point to extended weakness. Both moving averages are presently flat, indicating no clear bias until one average decisively moves.
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What do past crossovers suggest about direction?
Past signals offer context: the November 2024 daily golden cross preceded a notable run to $0.00003344, while the February death cross preceded declines toward $0.00001. Today SHIB trades near $0.00001276, down roughly 3.2% in 24 hours and 3% over seven days, reflecting short-term profit-taking after the spike.
Frequently Asked Questions
How should traders interpret an hourly golden cross for SHIB?
An hourly golden cross signals short-term bullish momentum but is not definitive. Traders should confirm with volume, RSI, and daily SMA alignment, and manage risk with stop-losses due to potential reversals and profit-taking.
Is the recent SHIB spike sustainable?
Short-term spikes driven by liquidations and macro news are often unsustainable without sustained volume and broader market confirmation. Watch daily SMA behavior and macro catalysts for signs of durability.
Key Takeaways
- Technical signal: Hourly golden cross indicates near-term bullish momentum for SHIB.
- Macro driver: Powell’s dovish remarks and Fed rate-cut expectations were the primary catalysts.
- Risk action: Monitor daily SMA 50/200 convergence and use strict risk management for volatile moves.
Conclusion
Shiba Inu’s hourly golden cross and the $0.0000135 spike show how macro commentary and forced liquidations can rapidly shift price action. Traders should combine this short-term signal with daily SMA trends and volume analysis before adjusting positions. Follow COINOTAG updates for continued coverage and data-driven signals.
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Source: https://en.coinotag.com/shiba-inus-hourly-golden-cross-could-precede-rally-as-powells-dovish-tone-and-short-squeeze-boost-buying/