Shiba Inu (SHIB) Price Hovers Around Crucial Support Level, Breakout Imminent
Shiba Inu (SHIB) price is showing signs of accumulation as it hovers around $0.00001180, with recent data indicating a $638,000 inflow of SHIB on exchanges. Analysts are closely watching key resistance levels and a crucial support level to determine the cryptocurrency's next move.
SHIB is currently trading at around $0.00001182, slightly below the $0.000012 support band. It has been consolidating within a tightening triangle pattern, bouncing repeatedly from $0.00001180 since mid-September. This suggests that investors are accumulating SHIB, preparing for a potential breakout.
Analysts have identified several resistance levels to watch, including the 20-day, 50-day, 100-day, and 200-day exponential moving averages (EMAs) at $0.00001238, $0.00001264, $0.00001286, and $0.00001364, respectively. The level around $0.00001180 is considered crucial, as holding it may determine SHIB's next move. Sellers remain active just under the 20-day EMA, while buyers defend the ascending trendline near $0.00001180.
Looking ahead, a break below $0.00001180 may expose SHIB to further downside levels at $0.00001100 and $0.00000999. However, analysts estimate that SHIB's price in 2025 could range roughly between $0.000008 and $0.000026, with several scenarios depending on market conditions. A potential 340% breakout above $0.0000145 is also on the table, signaling a strong upward rally.
As SHIB price hovers around the crucial support level of $0.00001180, both retail investors and market analysts are paying close attention. The next move of SHIB will determine whether it resumes an upward rally or faces further consolidation. With key resistance levels identified and a potential 340% breakout in sight, the cryptocurrency's price trajectory remains uncertain but promising.
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