- Analyst Javon Marks projects 480% Shiba Inu (SHIB) surge; Price Target $0.000081
- Shiba Inu (SHIB) bullish momentum; resistance at $0.00001380; next target $0.000014
- SHIB strong support found at $0.00001320; key level for potential price action
Market analyst Javon Marks projects a potential 480% surge for Shiba Inu (SHIB), setting a price target of $0.000081. Marks’ ambitious projection follows SHIB’s recent price movements above a key resistance trendline, with some analysts even forecasting a rise to $0.00015.
As of press time, SHIB trades at $0.00001320, a blip of 3% over 24 hours. But then, trading volume is on the rise for the same timeframe, a 41% surge to $280 million, the market cap at $7.9 billion. This mixed market sentiment is the ongoing fight between bulls and bears.
Price Momentum and Key Levels to Watch
The price path of SHIB has shown a consistent upward trend. The token moved from a low of $0.00001298 to a recent high near $0.00001380 before pulling back slightly.
This bullish momentum suggests that investor confidence remains strong, even as SHIB meets resistance at higher levels. However, the market remains volatile, and any big price movement depends on breaking through key resistance points.
SHIB faces notable resistance levels, with $0.00001380 acting as the latest stopping point. This level signals strong selling pressure, stopping further upward movement. Also, the mental barrier at $0.00001400 could be hard for bulls wanting to push the price higher. If SHIB does break these levels, it may make it possible for further gains.
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Support at $0.00001320 Holds for Now
Looking the other way, SHIB has set up strong support at $0.00001320, where buyers have consistently jumped in to prevent further declines. The next crucial support is at $0.00001298, the lowest point in the current uptrend. A drop below this level could make it more likely for further downside movement.
The broader market outlook remains bullish if SHIB can keep up momentum. A clear move above $0.00001380 would likely clear the way for testing $0.00001400, and potentially higher levels. However, if SHIB fails to hold above $0.00001320, it may revisit lower support levels, bringing back bearish pressure.
Technical Indicators and Momentum
Technical indicators offer additional insights into SHIB’s current stance. The Relative Strength Index (RSI) stands at 39.81, signaling weak momentum and slightly oversold conditions. A rise above 50 would reinforce bullish sentiment.
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Meanwhile, the Moving Average Convergence Divergence (MACD) suggests a consolidation phase. The MACD line remains below the signal line, reflecting lingering bearish momentum. However, the histogram bars indicate weakening negative momentum, which could support future price stabilization.
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