#Shiba Inu formed a high of $0.00004567 on March 5th but subsequently experienced a decline.
On the daily timeframe, SHIB's price has steadily decreased since March, displaying a gradual downtrend.
Following a base formation near $0.00002000, Shiba's price steady an upward movement. Crossing the $0.00003000 mark could potentially initiate a new bullish trend.
A stronger support level has been established along the ascending trendline, in addition to remaining above the 100-day Exponential.
On the daily chart, $SHIB is forming a bullish pattern known as the Three White Soldiers, indicating potential bullish momentum.
According To Coingabbar analysis, Surpassing the initial resistance barrier at $0.000030 might set the stage for a more notable advance towards $0.000045.
Failure to breach the $0.000030 level, especially with a daily close below it, may signify bearish momentum and potentially lead to further downside movement.
KEY LEVELS :
RESISTANCE LEVEL : $0.00003200-$0.00003600
SUPPORT LEVEL : $0.00002400-$0.00002000
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.
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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