Shiba Inu ($SHIB) Poised for New All-Time Highs A Trend Analysis

  • SHIB’s breakout from the descending trendline suggests bullish momentum ahead.

  • Key support at $0.00001000 could stabilize $SHIB during potential pullbacks.

  • Strong trading volume indicates heightened investor interest in $SHIB’s upward potential.

Shiba Inu ($SHIB) has shown signs of a potential all-time high (ATH). A crypto Analyst has highlighted breakout from a descending trendline, suggesting bullish reversal in price action. 

$SHIB is ready for a New ATH! 👀 pic.twitter.com/BdXdsCQS4P

— $SHIB KNIGHT (@army_shiba) September 26, 2024

Price Trend Analysis

The price movement of $SHIB/USDT reveals a consistent downward trend characterized by lower highs, depicted by a white descending trendline. This downward trajectory has raised concerns among investors about further declines. 

However, the recent breakout above this trendline indicates a possible change in momentum, opening up opportunities for upward movement.

Read also: Shiba Inu Burn Rate Surges 700%, Price Rally Fueled by Kusama’s Remarks

Support and Resistance Levels

It is important to understand support and resistance levels to gauge future price movements. The previous low of $0.000…

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