SHIB’s breakout has turned into a significant rally that continues to gather momentum.
Key Support levels: $0.000094
Key Resistance levels: $0.0000106; $0.000012
1. Buyers Dominate
The breakout point at $0.000094 has turned into support and buyers have not looked back even since they passed this level. Bulls continue to dominate with no sight of sellers at this time.
2. Rally Continues
The first important resistance of this rally is found at $0.0000106. If the momentum continues to pick-up, then SHIB can target $0.000012 next. Considering the current price action, this memecoin has a good chance to reach these levels.
3. Momentum Picking-Up
The MACD shows that the bullish momentum took no break this week, on the contrary, it intensified. This is shown by the histogram that has been making consistent higher highs since late July.
The bias for SHIB is bullish.
Short-Term Prediction for SHIB Price
Keep your eyes on the resistance at $0.0000106 as sellers could appear there. If they don’t manage to push back the price in a significant way, then expect buyers to aim for $0.000012.
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Cryptocurrency charts by TradingView.