CandleFocus TradingView Analysis Confirms Shiba Inu Path to Long-Lost $0.00003 Level
2024-09-24
Author: Content Editor
A recent analysis suggests that Shiba Inu (SHIB) could potentially reach the long-lost price level of $0.00003. Despite struggling to maintain a consistent positive trend, SHIB recently experienced an unexpected comeback, breaking out from the $0.000013 level and reaching $0.00001501. However, the bull run lost momentum, and SHIB is currently trading around $0.00001467. The analysis highlights several technical indicators that point to a bullish reversal, including a falling wedge pattern, a recent breakout above an overhead trendline, and a bullish RSI nearing overbought territory. If SHIB can break above critical resistance levels, it could continue its upward trajectory towards targets such as $0.00001683, $0.000020 (a psychological resistance level), and eventually $0.00003. However, if the price falls below critical support at $0.00001297, it could indicate a return to bearish sentiment.
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