In This Post:
- Shiba Inu could rise 102% if it breaks above $0.00001860.
- Trading volume is stable, showing weak bullish momentum.
- Failure to break above key levels could lead to a 41% drop.
Shiba Inu’s price has bounced back during the American trading session on Tuesday. It recovered some losses from the previous day. The trading volume is stable at 2.039 trillion, showing steady activity. But the overall trend is still downwards. This raises questions about how long this rally will last.
Key Support and Resistance Levels
SHIB is in a downward trend. A recent small green candle suggests a possible short-term bounce. The 50-day moving average is at $0.00001734, and the 200-day moving average is at $0.00001860. Both are above the current price, confirming the downward trend.
The immediate support is at $0.0000115. A stronger support zone is between $0.00001 and $0.000011. This zone was filled in the recent price drop, which might mean the dip is over. Resistance levels are at $0.00001734 (50-day moving average) and $0.00001860 (200-day moving average). A major resistance zone is around $0.00002500 to $0.00003000. If SHIB can’t break above the 50-day moving average, it might drop 41% to $0.00001135.
Potential for a Bullish Breakout
The Relative Strength Index (RSI) is at 33.01, close to oversold territory. This suggests a possible short-term bounce. The Chaikin Money Flow (CMF) is at -0.01, showing mild selling pressure.
If SHIB breaks above the 50-day and 200-day moving averages, it could show market strength. This might turn the trend upwards. A breakout could push the price up to $0.00002796, a 102% increase.
Looking Forward
Shiba Inu’s price is rising but faces key resistance levels. Stable trading volume suggests weak bullish momentum. Watch the $0.00001734 and $0.00001860 resistance levels. Breaking these levels could lead to big gains. But if SHIB can’t break the 50-day moving average, it might drop 41% to $0.00001135. Keep an eye on these levels to make smart trading decisions.
