As a seasoned analyst with years of experience in the ever-evolving world of cryptocurrencies, I find myself closely watching the resurgence of meme coins, and Shiba Inu (SHIB) is no exception.
Meme coins are back in fashion and SHIB is no exception.
Key Support levels: $0.000014
Key Resistance levels: $0.000020
1. SHIB Turns Bullish
It seems like the downtrend has ended and Shiba Inu is poised to climb higher at the start of this week, with buyers showing strong interest. If this upward trend persists, it might challenge the significant resistance level at $0.000020 in the near future. Previously, sellers thwarted the price advancement there towards the end of September, but a fresh attempt could potentially be successful.
2. A Higher High Next?
After confirming a higher low, Shiba Inu (SHIB) is now poised to try for an even higher peak. To achieve this, the price needs to transform from resistance into support at approximately $0.000020. At the moment of this writing, buyers seem hesitant, but that could shift in the near future.
3. Major Bullish Signal on MACD
Starting in October, the MACD indicator has shown a bullish trend, and this positive momentum has been growing stronger. This suggests a bullish outlook, implying that the existing resistance may soon be challenged once more. Given this indication, it seems probable that prices will rise to higher levels.
For more updates on the ecosystem, make sure to check out our Shibarium news.
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2024-10-07 13:28