Lokesh Gupta
27-09-2024
SHIB price surged by nearly 20% over the past 24 hours, now trading at $0.00001900.
Shiba Inu, the second-largest meme token, experienced a strong rally to $0.000017, fueled by a 1,522% spike in Shibarium fees, which surged from 27 to 438.
SHIB successfully broke above the descending parallel channel after facing rejection near yearly highs.
A long bullish candle formed after this breakout, indicating a strong return of bullish momentum.
The price action completed a double-bottom pattern, moving past the neckline at $0.000016, marking the highest swing since August 24.
Bulls could face resistance near the 200-day Moving Average and the key psychological level of $0.0000200.
If bulls manage to push SHIB past $0.000020, it may lead to a further 100% rally in the coming weeks.
Also Read: Bitcoin Price Prediction: BTC Surges Ahead of $5.8B Expiry
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.
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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