SHIB_s Rally Continues: Here_s What You Need to Know (Shiba Inu Price Analysis)

CryptoPotato

2023-08-11 07:51:12

SHIB’s breakout has turned into a significant rally that continues to gather momentum.

Key Support levels: $0.0000094

Key Resistance levels: $0.00000106; $0.0000012

1. Buyers Dominate

The breakout point at $0.0000094 has turned into support and buyers have not looked back even since they passed this level. Bulls continue to dominate with no sight of sellers at this time.

Chart by TradingView## 2. Rally Continues

The first important resistance of this rally is found at $0.00000106. If the momentum continues to pick-up, then SHIB can target $0.0000012 next. Considering the current price action, this memecoin has a good chance to reach these levels.

Chart by TradingView## 3. Momentum Picking-Up

The MACD shows that the bullish momentum took no break this week, on the contrary, it intensified. This is shown by the histogram that has been making consistent higher highs since late July.

Chart by TradingView## Bias

The bias for SHIB is bullish.

Short-Term Prediction for SHIB Price

Keep your eyes on the resistance at $0.00000106 as sellers could appear there. If they don’t manage to push back the price in a significant way, then expect buyers to aim for $0.0000012.

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