Shiba Inu Could Surge 340%, Echoing Its 2021 Bull Run Peak — Analyst
13 Octobre 2024 - 10:00PM
NEWSBTC
Shiba Inu (SHIB), the parody coin that hit the headlines in 2021,
has reignited investor interest. Based on the examination of crypto
expert Javon Marks, the token has recently emerged from a declining
wedge formation, which may suggest that a substantial price
increase is in the offing. Related Reading: Whales Hoard $90
Million In Bitcoin: A Sign Of What’s To Come? Marks estimates that
SHIB might increase by 342% and reach $0.000081, a level not seen
since the bull run of 2021. If current trends continue, the
canine-inspired digital asset may see a significant price
turnaround. Following that milestone break, the future of SHIB’s
price looks promising. According to the estimations, if the token
reaches $0.00001794 in mid-November 2024, there will be a 0.65%
immediate price gain. The current position at a neutral 50 of the
Fear & Greed Index reveals a balanced state of mind on the
market and correlates well with cautious optimism regarding the
change in SHIB price. Of late, in the last 30 days, SHIB has been
green for half the days, 15, and that too supports further future
development. $SHIB (Shiba Inu) – Are you prepared for $0.000081!?
With SHIB broken out of a recent Falling Wedge pattern and a much
larger (unpictured) resisting trend, an over 342% run from here to
it could happen ASAP, and this falling wedge break may only help
spark the process 🧨! https://t.co/wSz2eVepSp
pic.twitter.com/eefYqFGg1N — JAVON⚡️MARKS (@JavonTM1) October 11,
2024 The Power Of A Falling Wedge For the last five months, SHIB
has been in a falling wedge pattern, which is a chart pattern in
technical analysis that normally trends with a strong bullish
reversal. As such, this particular pattern, where the lows are
lower and the highs are lower, has proven to be a trigger for
breakouts. In March 2024, the pattern was apparently clear, as SHIB
declined from the yearly high at $0.000045. According to Marks, it
may be the breakthrough that pushes the token all the way to
$0.000081. Key Indicators Point To Strength Momentum may be
emerging as SHIB trades around $0.00001785 with persistent higher
lows. Additionally, the token’s 50-day and 100-day Exponential
Moving Averages (EMAs) are lower than the current price, suggesting
bullishness. The fact that SHIB is still trading above its 200-day
Simple Moving Average (SMA) indicates that it is in an uptrend over
the long term, despite the fact that it is trading below its 50-day
SMA, which is often a bearish signal. The confluence of these
indicators indicates that SHIB is stable, although it is possible
for it to move farther in any direction. Related Reading: Baby Doge
Coin Rockets 200% In 30 Days – What’s On The Horizon? Support And
Resistance Levels Looking forward, Shiba Inu has important support
around $0.000017; resistance at $0.000018 and $0.000019. Should the
token be able to surpass these resistance thresholds, it may
rapidly achieve the target anticipated at $0.000081. Meanwhile,
there still is room for development, but traders and investors
should continue to watch closely the activity of the price because
the next steps for SHIB can validate the breakout or trigger even
more consolidation. Yet considering past trends and technical hints
that look hopeful, it might be just a matter of time before SHIB
explodes into significant value soon. Featured image from Pexels,
chart from TradingView
SHIBA INU (COIN:SHIBUSD)
Graphique Historique de l'Action
De Oct 2024 à Nov 2024
SHIBA INU (COIN:SHIBUSD)
Graphique Historique de l'Action
De Nov 2023 à Nov 2024