Shibaurabhu bullish reversal, new price target announced: what is it?
Shibaurabhu bullish reversal, new price target announced: what is it?
Shibaura Inu price is aiming for $BTC experts predict that Shibaura Inu may reach a key price level based on Fibonacci analysis.
Shibainu is a strong candidate to become the next US President.
Since the US presidential election is affecting the market sentiment, Shibaura Inu (SHIB) is well positioned for a positive reversal based on bullish trends and technical indicators. At the time of writing, #SHIB shares were trading at USD 000001908, up 6% from the previous day.
This rise is in line with the rest of the #cryptocurrency market, which is fueled by expectations based on the recent US election, which was won by Donald Trump. According to analysts, the Shibaura exchange rate could reach $BTC Market analyst Alex Clay has identified two key price targets for SHIB based on Fibonacci retracement levels with further movement. SHIB is currently forming a descending expanding wedge pattern. This could be a bullish reversal for SHIB.
This pattern, depicted by a diverging downtrend line, suggests a price reversal after following a downtrend for some time; a move above the $000001833 level for SHIB is significant and opens the door for further growth of the cryptocurrency.
In addition, Clay's analysis also identifies the primary target at $000003710, which corresponds to the Fibonacci level of 0.382, as an intermediate level.
The secondary target at $000005685 is the retracement level of 0.618, where selling pressure is likely to intensify. These levels are important and are key points that many investors consider before changing their strategy. This analysis is supported by other cryptocurrencies such as dogecoin, which recently experienced a 22% rise.
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