Chart by TradingView
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
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.
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.
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.
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.
