fell below the $30.4k mark in recent hours, but continued to hold on to the $30k level. Yet its volatility has been extremely low over the past five days, and a move in either direction could be quick and strong.In mid-February, Shiba Inu saw a strong bounce off the $0.0000117 level, and in doing so, formed a bullish order block on the four-hour timeframe.
Hence, it was a bearish breaker on the four-hour timeframe, and another rejection could occur soon. The RSI made a lower high while Shiba Inu pushed higher on the price charts, forming a bearish divergence.However, the OBV was on the rise, signaling demand behind the meme coin. Sustained pressure from the buyers could push Shiba Inu back above the breaker and invalidate the idea presented above.
The Open Interest rose alongside the prices as well, showing that market participants were willing to bet on the continued rise in prices. The price action highlighted the chance of a bearish reversal, but the futures market showed bullishness- which would prevail?