$SHIB Buy now.
To determine the next SHIB target, let's break it down into resistance levels, support zones, and price action trends based on the chart:
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Key levels to watch
Resistance levels (target values up):
1. 0.00002594 (recent high):
If SHIB continues its upward momentum and breaks this level, it could become the first significant resistance. A break here could lead to a strong bullish continuation.
2. Zone 0.00002650 - 0.00002700:
This area could become the next major resistance given the historical price action and the psychological impact of round numbers.
3. 0.00003046 (maximum fluctuation):
This level is a previous significant peak and serves as a medium-term target in the bullish rally.
Support levels:
1. 0.00002463 (EMA 25):
If SHIB pulls back, this EMA level should provide the first level of support.
2. 0.00002259 (24-hour minimum):
This is a critical support level to watch if there is increased selling pressure.
3. 0.00002191 (EMA 99):
If the price drops sharply, this long-term EMA will act as a strong support base.
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Analysis of the next target
Bullish scenario:
If SHIB breaks above 0.00002594, the next immediate target is likely to be around 0.00002650 - 0.00002700.
Sustained bullish momentum could push price towards 0.00003046, especially with increasing volume.
Bearish scenario:
Failure to hold above 0.00002463 could lead to a decline to 0.00002259, with further decline possible to 0.00002191 if bearish sentiment intensifies.
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Movement confirmation indicators:
Watch for Stochastic RSI crossing into overbought or oversold territory.
A break with volume above 0.00002594 indicates bullish momentum; declining volume near resistance indicates a potential bounce.
