Lokesh Gupta
23-03-2024
#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
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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.
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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