SHIB’s V-shaped recovery signals strong bullish momentum
Key support levels for SHIB are 0.00001276, 0.00001242, and 0.00001197 USDT
Traders eye SHIB’s potential breakout above 0.00001385 USDT, anticipating further upward gains.
Shiba Inu (SHIB) has shown a strong recovery in its price, with the SHIB/USDT pair surging sharply after a significant dip. This rapid rise has caught the attention of many traders, driving the token up to 0.00001382 USDT, reflecting a 4.54% increase. This price action indicates a bullish trend, showing resilience and is now setting new price targets.
Source: X
According to the readings on the chart, recent price movement formed a V-shape recovery pattern, often seen as a sign of strength. SHIB quickly bounced back from its low levels. The price is near a resistance level at 0.00001385 USDT. Traders are watching closely to see if SHIB can break through this level. If successful, SHIB could reach higher price targets soon.
The next resistance levels for SHIB are 0.00001451 USDT and 0.00001557 USDT. Breaking these levels could indicate a continued bullish trend. However, SHIB must first overcome the current resistance at 0.00001385 USDT. This level has proven to be a significant hurdle. A breakthrough could lead to further gains.
Support levels are also crucial for SHIB’s price action. The primary support levels are 0.00001276 USDT, 0.00001242 USDT, and 0.00001197 USDT. These levels provide a cushion in case of a price drop. If SHIB falls, these supports could prevent further decline.
The SHIB community is optimistic about the recent price movements. SHIB can achieve the targets set by analysts. These targets are 0.00001385 USDT, 0.00001451 USDT, and 0.00001557 USDT. Achieving these targets would mark significant milestones for SHIB. The community is eager to see how the price evolves.Social media platforms, especially X, are buzzing with SHIB news. Influencers and analysts are sharing their insights. SHIB KNIGHT, a crypto analyst, recently highlighted the V-shape recovery. They have set price targets at 0.00001385, 0.00001451, and 0.00001557 USDT. These targets align with the resistance levels identified on trading charts.
The post SHIB Shows Strong Recovery, Sets New Price Targets appeared first on Coin Edition.
