Shiba Inu price (SHIB) faces breakthrough resistance. Analysts expect that market optimism and the rise of BTC will drive bullish momentum.
After Bitcoin's price broke through the historical high of $105,000, Shiba's price recently surged. Although the market occasionally retraces to test highs, the overall prosperity of the cryptocurrency market has pushed SHIB's price up to several technical resistance zones. Analysts predict that as market enthusiasm heats up, Shiba Inu may reach historical new highs, laying the groundwork for further increases before the end of the year.
Can Shiba Inu's price reach a historical high this December?
A cryptocurrency expert pointed out on Twitter that SHIB is currently in a critical price range—between $0.000027 and $0.000030. This range is seen as an important juncture for determining its future trend.
According to analysis, if SHIB can successfully break through the resistance level of $0.000030, its price may soar to previous highs, further confirming the formation of a bull market. This trend may attract more investors into the market, driving prices higher.
Experts emphasize that buyers need to break through the psychological barrier of $0.000030 to restore the market's upward momentum. Once this breakthrough is achieved, the market may welcome further upward trends, laying the foundation for SHIB to return to the historical high of the 2021 bull market—$0.00008845.
Against the backdrop of current positive market sentiment, this potential breakthrough will become a significant turning point for SHIB, providing an opportunity for future price increases.
BTC price reached its historical high of $106,000, rising for seven consecutive weeks, marking the highest weekly increase since 2021. This surge in the cryptocurrency market may ignite bullish optimism, pushing SHIB prices and other top altcoins to new highs. The surge of other top meme coins, including DOGE, PEPE, and WIF, may drive SHIB's price to soar.
SHIB Price Analysis: Can Shiba reach $0.00004 this week?
As of December 16, SHIB's latest price is $0.00002747, with a slight increase of 0.67% in the past 24 hours, showing moderate upward momentum. However, price fluctuations are quite noticeable, with a low of $0.00002687 and a high of $0.00002826.
In terms of technical indicators, the MACD line has fallen below the signal line, suggesting that the market may enter a bearish reversal phase. Meanwhile, the green histogram of the Awesome Oscillator (AO) is gradually weakening, further indicating that bullish momentum is declining. Overall, although SHIB's current price is stable, the technical aspects show that it may face pullback pressure in the short term, and investors should carefully observe changes in market trends.
Shiba Inu coin (SHIB) is currently in a key price resistance area, with market trends full of potential and uncertainty. If the current bullish momentum continues, SHIB is likely to break through the resistance level of $0.00003 in the short term. Once decisively breaking through this juncture, the price may quickly rebound to $0.000035 and further rise to $0.00004. Following this trend, SHIB is expected to achieve about a 41% increase by the end of this week.
However, the other side of the market is the potential bearish pressure. If bears regain control, SHIB may fall below the critical support level of $0.000027. This situation will weaken the current bullish structure and may lead to further declines in price to $0.000025 or lower, reversing the recent upward trend.
Currently, Shiba Inu coin is facing a crucial decision. If market conditions remain favorable and successfully break through $0.00003, SHIB's price may continue to rise and could gradually approach its historical highs. Conversely, failing to hold the key support level will put the price at risk of a pullback, and investors need to closely monitor market dynamics.
