SHIBA INU Price Prediction, Shiba Rally As BONK Prevails
- The cryptocurrency market shifted to a bullish trend on Tuesday, reversing the bearish sentiment seen earlier in the week.
- Following the Federal Reserve's decision, SHIBA, along with BTC and ETH, experienced an upward surge.
- On the daily chart, SHIB retraced to test the descending trendline and subsequently rebounded.
SHIBA finds support at $0.00000910; potential rally beyond $0.000010.
According to Coingabbar Price Analysis, Over the past 9 months, SHIBA INU has traded within a horizontal channel pattern.
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SHIB experiences a surge toward $0.00001 after a brief bounce from $0.000096 support as well as 20-Day EMA.
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On December 11th, SHIBA retested the support of a descending trendline and subsequently bounced back towards the $0.000010 level.
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SHIBA is currently trading within a Rounding Bottom Pattern.
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In the daily timeframe, Shiba Inu remains above the critical 20-day EMA, signaling a potential breakout as historical patterns suggest upward movement when this level is maintained.
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A significant sell-off is likely if the 20-day EMA is breached as support.
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The RSI supports the bullish sentiment with a trend strength reading of 60.
KEY LEVELS :
RESISTANCE LEVEL : $0.00001020-$0.00001070
SUPPORT LEVEL : $0.000009400-$0.000009000
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
