At the time of writing, Shiba Inu
$SHIB is trading at $0.00002238, up 20% from lows of $0.00001853 on Friday. Still, the asset remains down 17% in the past seven days and about 50% from its local highs of $0.00003343.
In an X post on Monday, December 23, Rose Premium
#signals highlighted that the meme coin’s price has been forming a possible ascending channel on its daily candle chart since late September 2024.
According to the analysis, key support is currently within the $0.00001939 and $0.00002139 price range, which aligns with the 0.618 and 0.786 Fibonacci retracement levels.
The Rose Premium signal suggested that a good bounce could see Shiba Inu surge to targets of $0.00002715, $0.00003083, and eventually $0.00003511, representing a 21%, 38%, and 57% surge, respectively, from current prices. Still, the analysis warns of resistance at the $0.00003083 and $0.00003511 targets.
#MarketRebound