Breakout imminent? SHIB coin rebounds strongly, key resistance level within reach!
SHIB coin surged 12% in 24 hours, showing its determination to return to the April low. On September 26, its monthly recovery was as high as 35%, overshadowing the moderate rise of Bitcoin. Currently, SHIB faces a critical test, and technical indicators show positive buy signals but warn of overbought risks.
If the trend continues, it will challenge $0.000001763 and the April low of $0.000018. The long-term target is the 200-day moving average of $0.000020, and the potential returns are attractive. However, if the closing price falls below $0.000017, it will face the risk of a correction. Investors are full of confidence, with net inflows of more than 10 million US dollars for two consecutive days, supporting the rise of SHIB. The derivatives market is also optimistic about SHIB, with open interest rates soaring and short positions being liquidated in large quantities.
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