Shiba Inu (SHIB) price, a popular meme-based cryptocurrency, is consolidating as it fluctuates within a tight trading range. Despite recent declines, SHIB stabilizes above $0.000015, signaling a potential recovery. Market indicators suggest a possible breakout, raising speculation on whether the token could surge toward $0.00004401.
Shiba Inu Price Eyes $0.00004401 as Bulls Prepare for a Breakout
Shiba Inu price is gearing up for a significant breakout as bullish momentum builds. Analysts highlight a retest of a key accumulation zone, suggesting a reversal could be on the horizon.
A falling wedge pattern, typically a bullish indicator, has formed on the charts, reinforcing expectations of an upward move. If momentum continues to strengthen, the meme coin could see price targets of $0.00002913, $0.00003612, and $0.00004401 in the coming sessions.
The technical analysis points to a strong support level where SHIB has rebounded. This setup suggests that buyers are regaining control after a period of consolidation. If the falling wedge breakout materializes, the price could climb significantly, mirroring previous recovery patterns.
SHIB Price Analysis
The SHIB price hovered at $0.00001581, slightly recovering 0.96% in the past 24 hours. The meme coin bounced from its recent low of $0.000014, a key support level, after experiencing a prolonged downtrend. Buyers are attempting to regain momentum, but resistance at $0.000018 remains a major hurdle for further upside movement.
Key Support and Resistance Levels To Watch
Shiba inu price prediction has been consolidating around the $0.000015 mark, struggling to gain bullish momentum. The asset remains below key resistance levels at $0.00001800 and $0.00002000, which previously acted as strong support. A breakout above these zones could push the price toward $0.00002500 in the near term.
The Moving Average Convergence Divergence (MACD) indicator shows signs of a potential shift in momentum. The MACD line is crossing below the signal line, indicating lingering bearish pressure. However, if bulls sustain the current buying activity, SHIB could see a bullish crossover, signaling a trend reversal.
The Moving Average Convergence Divergence (MACD) indicator shows signs of a potential shift in momentum. The MACD line is crossing below the signal line, indicating lingering bearish pressure. However, if bulls sustain the current buying activity, SHIB could see a bullish crossover, signaling a trend reversal.
A drop below the $0.000014 support could trigger more selling pressure, potentially dragging SHIB toward $0.00001
Shiba Inu price remains in consolidation, but a breakout could be imminent. If momentum builds, SHIB may surge toward $0.00004401, overcoming key resistance levels and confirming bullish dominance in the market.
The post Shiba Inu Price Poised for Breakout Will SHIB Hit $0.00004401 Soon? appeared first on CoinGape.
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