Shiba Inu coin has rebounded! An increase of 8.18%! Will SHIB soar 200% in the future? Or will it face a pullback?
Cryptocurrency analyst MMBTtrader is quite optimistic about SHIB's future, predicting it will rise to $0.000038. He pointed out that SHIB has already risen 75% from the support level of $0.000011.
In fact, altcoins rebounded from the demand zone in August and early September, picking up pace and stabilizing at $0.000019.
He predicts a higher high and low pattern will form, initially targeting the May high of $0.000028, then possibly pulling back to the September high of $0.000021. If these levels stabilize, the meme coin is expected to rise to $0.00003852.
He takes a more cautious stance on SHIB, believing it will continue to rise to $0.0000216 before pulling back 35% to $0.000014075. His analysis shows that a pullback to $0.0000195 could be a good entry point.
If SHIB breaks through $0.0000216, his bearish expectations may become invalid, and the price could rise higher than previously recorded.
Currently, the trading price of Shiba Inu is $0.00001925, nearly 11% below the resistance level of $0.0000216.
Market experts have differing opinions on SHIB's future trend. MMBTtrader predicts SHIB could rise 100%, based on his confidence in the sustained upward trend; while SwallowPremium takes a critical stance and has issued a warning.
SHIB's future price trend will depend on whether it can break through key resistance levels and maintain momentum. As SHIB approaches these important price points, traders will closely watch for any signs of a breakout. The coming weeks will be crucial in determining whether it can rise further or face rejection again.
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