#Shiba Inu saw a surge in price on Friday, May 3, credited to its integration with Paypal, marking a significant milestone in the market.
Reversing from a crucial support level of $0.00002057, $SHIB displayed resilience around the psychological barrier of $0.000020.
The daily chart of $SHIB shows the formation of a morning star pattern, hinting at a potential bullish reversal and readiness to breach the overhead resistance trendline.
Bullish divergence is noticeable in the daily RSI line, strengthening the observed double-bottom reversal pattern.
After finding support and reversing from the 100-day EMA, SHIB is now favorably positioned to surpass the 50-day EMA.
As per trend-based Fibonacci levels, the meme coin may target the 50% Fib level at $0.00003200.
According To Coingabbar analysis, In the event of a bearish trend, SHIB may gravitate towards its support level of $0.0000200.
KEY LEVELS :
RESISTANCE LEVEL : $0.00003000-$0.00004500
SUPPORT LEVEL : $0.000018000-$0.000012000
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