Shiba Inu (SHIB) has completed a short-term golden cross on its 2-hour chart, with the 50-period moving average crossing above the 200-period moving average. The bullish technical pattern emerged amid a broader improvement in altcoin sentiment, as CoinMarketCap's Altcoin Season Index rose to 47/100 and total cryptocurrency open interest increased by $108 million over 24 hours, according to CoinGlass.
SHIB traded at $0.00000436, up 0.37% in the past day and 3.19% over the past week, though it had retraced from a July 4 high of $0.00000458. Key support holds at $0.00000405, where buyers stepped in on June 26 to prevent further decline. For bullish momentum to strengthen, SHIB must overcome the daily 50-day moving average near $0.00000489, which would open a path to the psychological $0.000005 level. Mixed signals persist, with positive funding rates suggesting derivatives traders remain optimistic, but the crypto market is also awaiting the release of FOMC minutes under new Fed Chairman Kevin Warsh and weekly jobless claims data later this week.
