1. Recent Performance
• Growth of more than 50% in the last week:
• Shiba Inu broke an important resistance and accelerated the upward movement.
• The breakout was accompanied by an increase in volume, indicating strong buyer interest.
2. Growth Potential of Over 70%
• Areas of interest:
• The chart shows significant resistance in the 0.00002934 range, which represents the short-term target for possible 70% growth.
• This bullish projection may be associated with Fibonacci extensions or previous resistances.
• Fundamentals and Market Sentiment:
• Recent growth is related to general optimism in the cryptocurrency market.
• Additionally, events such as exchange listings or updates to the Shiba Inu ecosystem may be fueling the excitement.
3. Technical Indicators
• RSI (Relative Strength Index):
• Currently at 63.83, the RSI shows that there is still room for growth, although the asset is approaching a possible overbought zone.
• Moving averages:
• Price is above both short-term and long-term moving averages, reinforcing the uptrend.
4. Analysis Strategies
• Important supports:
• 0.00002398 and 0.00002225 are support zones that can be tested if there is a correction in the short term.
• Resistances to be overcome:
• 0.00002599 is an immediate resistance.
• 0.00002934 is the projected upside target in the bullish scenario.
5. Conclusion
• Shiba Inu's recent movement indicates a developing bullish trend, with 70% growth achievable if the market maintains momentum.
• However, it is important to note that assets such as SHIB can have high volatility, making it essential to monitor volume and support and resistance levels.
• Investors should consider possible corrections on the way, especially in areas close to technical resistance.