$BTC

The Shiba Inu coin continued to oscillate in a wide channel for 45 days. Support at $0.00002 kept SHIB within acceptable levels, preventing panic selling among investors.

Another stronger support has been established along the uptrend line. Moreover, the Shiba Inu's position above the 200-day Exponential Moving Average (EMA) supports the upside despite the correction from the first quarter peak at $0.000038.

Now that the Shiba Inu coin has risen above two other crucial EMAs – 20 days and 50 days, the path of least resistance is gradually turning to the upside.

The Bollinger Bands indicator indicates a breakout in the coming days. However, given the lack of immediate liquidity amid high volatility and profit-taking, SHIB could continue to range before a breakout.

If the price breaks the first solid hurdle around $0.000028, a stronger breakout above $0.00003 will be seen. Investors sitting on the sidelines may flood into the market, triggering FOMO and escalating the breakout eyeing $0.000035. The Shiba Inu coin could make a new milestone above the first quarter peak in June, setting the pace for the rally.

#SHIB, #SHIB, #shbi👍