In a recent update, Shiba Inu developer Kaal Dhairya (@kaaldhairya) confirmed that a temporary outage affecting the Shibarium network has been resolved. The outage, triggered by network issues between validators, briefly disrupted services within the Shiba Inu ecosystem, particularly the layer 2 blockchain solution, Shibarium.
Kaal detailed the cause and subsequent resolution of the problem, stating: “There was a temporary problem Shibarium outage caused due to network issues between validators. The network is back up and running now. It also noted that even though core network functionality has been restored, some ancillary services such as Shibariumscan or external Remote Procedure Calls (RPC) may continue to experience disruptions until additional corrective measures are taken. are taken.
Kaal emphasized the importance of collaboration between infrastructure teams to improve communication and streamline operations. He urged external teams working on infrastructure-level items such as RPC to coordinate closely with the Shibarium team. “If you are an external team working on the infrastructure level for Shibarium (e.g. RPC, etc.), please contact us so we can streamline communications with you via shared telegrams/Slack channels,” he said. -he declares.
There was a temporary shibarium outage caused by network issues between validators. The network is back up and running, some services like shibariumscan or external RPCs may still remain unavailable until the steps provided are implemented. If you are an external team…
– Kaal (@kaaldhairya) April 22, 2024
Faceless Shiba Inu Price
Recent Shiba Inu (SHIB) price movements show no impact from the Shibarium outage. The four-hour chart for SHIB/USD illustrates a symmetrical triangle model that has governed the movement of the asset in recent weeks.
Contrary to direct bullish sentiment, price initially fell to the triangle’s dip on April 12, which typically signals an impending downtrend. However, in a quick change of fortune, SHIB found substantial support at the 100-day EMA and is now testing the extended lower trendline of the once-confined triangle.
Currently, the price has surpassed the crucial resistance-turned-support level marked by the Fibonacci retracement level from $0.236 to $0.00002472. Notably, SHIB is also trading above all EMAs in the 4-hour chart. The 200 EMA (blue line) currently serves as crucial support after the first attempt to cross the extended trendline (black) failed.
A decisive and sustained breakout above this level could invalidate the previous bearish breakout, positioning SHIB for a potential upward move northward. However, the volume activity on the chart indicates a temperate trading environment, lacking the aggressive spikes typically associated with decisive breakouts.
This could suggest that the market is in a state of reflection, with traders waiting for further confirmation before committing to a clear directional bias. Finally, the RSI sits at 67, which is just below the overbought threshold. This placement implies that there is room for upward movement before the market becomes too extended.
If SHIB struggles above the extended lower trendline, the case for a imminent surge strengthens, potentially leading to a rally towards the Fibonacci levels of 0.382 ($0.00002867), 0.5 ($0.00003203), and 0.618 ($0.00003527).
Featured image created with DALL·E, chart from TradingView.com
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