- Shiba Inu (SHIB) shows bullish trends, indicating potential for significant price rallies.
- SHIB’s resistance at $0.0000192 could spark a surge towards $0.0000200 or higher.
- Key support at $0.0000185 remains crucial for maintaining upward momentum in SHIB.
Shiba Inu (SHIB) is making notable gains in the crypto market, showing strong potential for a significant upward surge. Recent price action suggests SHIB could be on the verge of a parabolic move.
As at press time, SHIB is priced at $0.00001906, reflecting a market capitalization of approximately $11.23 billion. It is up 1.68% for the day, with a trading volume of $324.93 million, a 5.55% increase. These metrics point to growing interest from investors.
Price Action and Key Levels
SHIB‘s performance of late has shown price fluctuations between $0.0000185 (local low) and $0.0000192 (local high). Despite these fluctuations, the overall trend appears bullish, following a brief price dip.
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Hence, this upward trajectory reflects the buyers’ commitment to pushing prices higher. The critical resistance level is the recent high of around $0.0000192. A breakout above this level could indicate increased bullish momentum, potentially attracting more investors.
On the flip side, SHIB has a solid support level at $0.0000185. This level has historically resisted selling pressure, suggesting it may act as a floor for the price. If SHIB maintains its position above this support, it could encourage further buying interest.
Short-Term Sentiment and Momentum Indicators
Current sentiment around SHIB remains bullish. Buyers have shown strength by stepping in at lower price points, leading to a gradual upward movement. If SHIB breaks through the resistance at $0.0000192 and maintains that momentum, it may rally toward $0.0000200 or even higher.
Conversely, if SHIB fails to hold the current price levels and drops below $0.0000185, it may face additional downside pressure. In such a scenario, revisiting the $0.0000180 level or lower becomes a possibility.
The 2-hour Relative Strength Index (RSI) is currently at 54.25, indicating that SHIB is neither overbought nor oversold. Also, the 2-hour MACD trading above the signal line suggests potential upward momentum in the near term.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
 shows signs of a potential parabolic move as it maintains bullish momentum and key price levels.){kind=link}