Shiba Inu's Potential Path to New Heights
- Price Breakthrough and Pullback: Shiba Inu (SHIB) is currently trading at $0.00000621, reflecting a 3% increase over the past 24 hours, which is seen as a confirmation of a bullish breakout, especially after breaching a multi-year declining triangle, leading to heightened market anticipation for its future trend.
- Support and Resistance Analysis: During its retest phase, SHIB has risen another 2%, with current resistance levels identified between $0.00000785 and $0.00000821, where a breakthrough could yield potential gains of 26% to 32%, while further breakthroughs may target even higher price ranges.
- Supply Reduction and Market Participation: In the past day, SHIB's burning activities surged by 544%, with 23 million SHIB taken out of circulation, indicating rising community interest; simultaneously, open interest increased by 13%, reaching a record $69.27 million, highlighting significant market engagement.
- Market Outlook and Analysis: Analysts suggest that if SHIB successfully completes this retest phase with strength, it could lay the groundwork for a robust resurgence, and if market conditions remain favorable, SHIB may redefine its trajectory, potentially marking a remarkable ascent in the cryptocurrency landscape.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB). As of , Shiba Inu (SHIB) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 4 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000511 | 0.00000546 | 0.00000578 | 0.00000613 | 0.00000645 | 0.0000068 | 0.00000712 |
| Fibonacci | 0.00000546 | 0.00000572 | 0.00000587 | 0.00000613 | 0.00000639 | 0.00000654 | 0.0000068 |
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