A broader rally on the market saw major cryptocurrencies, including Shiba Inu, post one of their strongest weekly gains of late.
At the time of writing, Shiba Inu was up 8% in the last 24 hours to $0.0000063 and up 17% weekly. The 8% price jump in the last 24 hours corresponds with a “golden cross” on the three-hour chart. The 50 MA on the three-hour chart has risen above the 200 MA, indicating a golden cross.
The price increase coincides with the Shiba Inu price achieving a much-watched breakout on the daily chart. Shiba Inu rose past the daily MA 50 at $0.00000621 for the first time since Jan. 18.
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Shiba Inu had sought to sustain a rise above the daily MA 50 amid a previous attempt on March 13. The price jump marks the first clear move above this price level since early 2026, shifting short-term momentum toward buyers.
Traders are now waiting to see whether Shiba Inu can maintain support above the daily MA 50 level of $0.00000621.
If this support holds, this could open the pathway to $0.00000912 and then $0.00001017 as buying pressure increases.
However, a drop back below $0.0000062 ( the daily MA 50) might cause the breakout to be lost and send Shiba Inu back to its previous range.
Focus now on Fed rate decision
Save for Bittensor (TAO), which surpassed 8% in daily gains, Shiba Inu is outperforming the rest of major cryptocurrencies, especially in the top 30 by market rankings.
Traders are looking forward to the Fed meeting scheduled for March 17 to 18.
Shiba Inu’s price jump continues a rebound from March 8 low of $0.00000522, with Shiba Inu marking eight out of nine days in green since this date. Shiba Inu saw a sharp increase following the formation of the golden cross on the three-hour chart. Now, buyers are attempting to convert the moving averages, which were previously resistance, into support.
Source: https://u.today/shiba-inu-golden-cross-completed-as-price-rebounds-8-can-breakout-sustain-rally
