$$#SHIB

Shiba Inu (SHIB), a memecoin that exploded in popularity in 2021, is still a hot topic of discussion among crypto investors. The question is, what are the prospects for SHIB for the next 2 months? Let's look at it through the lens of technical analysis.

Current Situation:

SHIB price currently (16 December 2023) is around US$0.000001014, down around 80% from its high point in October 2021.

The daily chart shows a short-term bearish trend, with the price forming a descending channel pattern.

The RSI (Relative Strength Index) indicator is in the oversold zone, indicating a potential oversold bounce.

MACD (Moving Average Convergence Divergence) is showing a bearish signal, but the bearish momentum is starting to weaken.

Bullish Scenario:

If SHIB price manages to break through the resistance at US$0.0000090, bullish momentum can be formed.

The bullish price target for the next 2 months could reach US$0.0000220.

Strengthening conditions: positive news regarding the Shibarium project, increased community activity, and supportive macroeconomic factors