Shiba Inu (SHIB) is at a decisive juncture, trading around $0.00001231 after a minor dip of 0.01677%. With price action tightening, a breakout looms as traders eye critical support and resistance levels. The market is showing signs of growing momentum.
4-Hour Chart: Breakout Loading
The 4-hour chart reveals SHIB forming a descending wedge, often a precursor to a bullish breakout. A push past $0.000021 could trigger momentum toward $0.000025, attracting fresh buying interest. However, if resistance holds firm, SHIB may retest the $0.00001369 support zone. A break below this level could weaken bullish sentiment and lead to extended consolidation or a downward move.
1-Hour Chart: Consolidation Before the Storm
SHIB remains range-bound on the 1-hour chart, reflecting market indecision. Despite minor fluctuations, the token has held key support levels, indicating that bulls are still in the game. A move above $0.00001260 could signal an uptrend, confirming bullish strength. Conversely, a drop below $0.00001200 might invite increased selling pressure and open the door for further declines.
15-Minute Chart: Immediate Volatility Signals
Short-term action highlights resistance at $0.00001260 and support at $0.00001200. These levels serve as immediate barriers determining SHIB’s next move. A breakout could set the tone for the next leg, potentially confirming a bullish trend. However, failure to hold support could trigger a sharper retracement, leading to a more bearish outlook.
What’s Next?
- Bullish Case: Clearing $0.00001260 could drive SHIB toward $0.000021, with further upside possible if volume surges.
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- Bearish Case: Losing $0.00001200 may increase sell pressure, pushing SHIB toward $0.00001199 or lower, potentially delaying any recovery attempts.
SHIB is at a tipping point, with critical price levels acting as make-or-break zones. A decisive breakout could define the next trend, making this a crucial moment for traders. Given the market’s volatility, staying alert and watching key signals is essential for those looking to capitalize on SHIB’s next move.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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