#Shiba Inu formed a high on March 5th and has since undergone a correction trend for the past two weeks.
During this correction, the price dropped from $0.000045 to $0.0000236, marking a 48% loss.
However, SHIB found support near the 61.80% Fibonacci retracement level and $0.0002300, resulting in a rebound.
The rebound suggests that bullish momentum may be returning, potentially leading to a significant upswing.
SHIB's price is currently consolidating within a descending trendline on the daily chart.
Closer examination reveals trading near the upper trendline of an ascending channel.
In the last two days, SHIB has struggled to breach the 50% Fibonacci retracement level but is attempting to do so again today.
If sellers break the immediate floor at 61.8% Fibonacci at $0.00002323, the price of SHIB may drop to $0.00001700.
Conversely, if buyers break the immediate resistance at 50% Fibonacci at $0.00002750, SHIB's price may surge towards $0.00003180.
According To Coingabbar's analysis, #Shiba Inu Price Prediction 2030 it is estimated to potentially reach $0.0001000, Shiba Inu Price Prediction 2040 suggests it could reach close to $1.00 and ShibaInu #PricePrediction 2050 sets a target of $5.00.
KEY LEVELS :
RESISTANCE LEVEL : $0.00003000-$0.00004500
SUPPORT LEVEL : $0.000023000-$0.000017000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
