The market opened on a positive note today, and Shiba Inu (SHIB) is showing signs of breaking higher.
Key Levels to Watch:
Support: $0.000011
Resistance: $0.000014
1. SHIB Turns Bullish
After a prolonged period of consolidation in August, SHIB appears to have found a bottom and is now looking to push higher. The crucial support level at $0.000011 has held firm, and the bulls are now targeting the key resistance at $0.000014. If SHIB can break through this resistance, it could signal the start of a new rally.
2. Is the Downtrend About to End?
If buying pressure increases at this point, SHIB may finally put an end to the downtrend that has persisted for months. For this to happen, it’s critical that SHIB turns the $0.000014 resistance level into support. This week could be decisive in determining the meme coin’s next direction.
3. Bullish Momentum on the Rise
The daily MACD (Moving Average Convergence Divergence) indicator turned bullish last week, and now the two-day MACD has followed suit. This shift suggests that buyers are starting to gain control, and if this momentum continues, SHIB could enter a sustained uptrend.
In summary, while Shiba Inu (SHIB) is showing promising signs of a potential bull run, it all hinges on breaking and maintaining the $0.000014 resistance level as support. The coming days will be crucial in determining whether SHIB can capitalize on this bullish momentum.
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
