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🚀🚀🚀Shiba Inu (SHIB) is near a breakout: Will it take off?
Shiba Inu (SHIB), which draws a positive outlook from the point of view of technical analysis, has started to give the green light for the rise.
#ShibaInu (#SHIB ), which has reached a critical level with the weakening of the Memecoin trend and the decline of Bitcoin (BTC), has given a bullish signal. The popular coin, which is heading towards the falling train with the reaction from the minor support level, may exhibit voluminous price movements in a short time. It seems that this process will develop primarily depending on the technical structure of the pair and the course of BTC.
So, to what levels can an increase come for SHIB? What are the support and resistance points in the popular coin?
Let SHIB investors consider these levels!
SHIB, which has been pricing in a bearish direction since $0.00004448, has started counting down for the breakdown. The popular memecoin, which has been in a downtrend since March 5, may first make a move to $ 0.00003507 if it makes a break. Later, the $ 0.00004417 level can be followed as a resistance. If BTC has positive pricing or BTC dominance decreases, even higher levels can be targeted for the popular coin.
Factors such as downward movements of BTC, increasing BTC dominance, or different trends leaving memecoins in the background will naturally create selling pressure on SHIB. In such a scenario, withdrawals towards $ 0.00002536 – 0.00001699 and 0.00001031 can be followed, respectively.
Another factor that may be decisive in the price movements of the pair will be combustion operations. Shiba Inu, which performs burning on a regular basis, can move the price up faster if it increases the amount of burning.
