SHIB Confirms Breakout With 10% Surge: Here’s the Next Target (Shiba Inu Price Analysis)

Shiba Inu confirmed its breakout today when the price moved above a key level.

Key Support levels: $0.0000094

Key Resistance levels: $0.0000012 

1. Massive Breakout in Progress

SHIB managed to turn the key resistance at $0.0000094 into support and the price has not looked back since. If this momentum continues, then the next significant target is found at $0.0000012.

2. Bullish Retest

After the price left the ascending wedge, SHIB entered a brief pullback which re-tested the breakout point. This was extremely bullish and buyers rushed to enter into a position once the retest was completed (see chart below).

3. MACD Momentum Growing

Buyers are picking up speed, and this is shown by the MACD histogram, which is making higher highs at a growing pace. This puts SHIB in a clear bullish trend that may be only starting.

Bias

The bias for SHIB is bullish.

Short-Term Prediction for SHIB Price

With the breakout confirmed, SHIB can now aim for $0.0000012, which is a major resistance level that was last tested in April. As long as the bullish bias remains intact, a test of this level appears likely.