{"id":551917,"date":"2023-09-19T12:01:10","date_gmt":"2023-09-19T12:01:10","guid":{"rendered":"https:\/\/ktsl888.com\/?p=551917"},"modified":"2024-06-11T07:47:34","modified_gmt":"2024-06-11T07:47:34","slug":"shiba-inu-60-surge-key-indicators-to-watch","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/shiba-inu-coin\/shiba-inu-60-surge-key-indicators-to-watch\/","title":{"rendered":"Shiba Inu Gearing Up For A 60% Surge? Key Indicators To Watch"},"content":{"rendered":"

Shiba Inu (SHIB) continues to be in a pivotal make-or-break moment. As described in our last in-depth price analysis<\/a> of SHIB, two chart patterns on the 1-week chart could continue to determine the future of SHIB price, and their outlooks could not be more different.<\/p>\n

We are talking about a bullish triple bottom that points to a possible end of SHIB’s two-year downtrend and a descending triangle that has been formed for over 13 months, indicating a bearish trend.<\/p>\n

Shiba Inu Price Analysis: Update<\/h2>\n

At the moment, the bulls seem to have the upper hand. SHIB was trading at $0.00000741 at press time and managed a weekly close above the crucial support line of $0.00000715 on Sunday evening. With this, SHIB may have fended off the bears’ attack for now and is targeting a rise towards the descending triangle resistance line.<\/p>\n

The possibility of a validation of the triple bottom, a bullish chart pattern, thus remains. The chart pattern is characterized by three lows at roughly the same level, bouncing off a support level and culminating in a breakout above resistance.<\/p>\n

Related Reading: These Countries Are Picking Shiba Inu Over Dogecoin And Cardano<\/a><\/div>\n

However, the bulls remain vulnerable. If the SHIB price falls below the $0.00000715 support level, it could confirm the descending triangle and potentially push SHIB towards its year-to-date low of $0.000006. A break of this level could plunge SHIB into uncharted waters and make a new all-time low a grim possibility.<\/p>\n

On the way up, key resistances include $0.00000880 (23.6% Fibonacci), the descending triangle trendline at around $0.0000095 and $0.00001, $0.00001053 (38.6% Fibonacci), $0.00001193 (50% Fibonacci), and $0.00001332 (61.8% Fibonacci). As then, the August 2022 high at $0.00001784 could be extremely important resistance.<\/p>\n

\"Shiba
SHIB price, 1-week chart | Source: SHIBUSD on TradingView.com<\/a><\/figcaption><\/figure>\n

4-Hour Chart: SHIB\/USD<\/h2>\n

In the shorter timeframes, such as the 4-hour chart, we can see that the bulls cannot yet feel secure (yet). SHIB is currently stuck in the trading range between $0.00000688 (78.6% Fibonacci) and $0.00000797 (61.8% Fibonacci). After briefly falling into oversold territory (below 30) on September 11, the RSI has now risen to 42. However, this metric also shows that sentiment remains subdued.<\/p>\n

Related Reading: Shiba Inu Hits Make-Or-Break Price: 250% Rally Or New All-Time Low?<\/a><\/div>\n

SHIB price urgently needs to break above the 20-day EMA at $0.00000759 on the daily close to generate fresh bullish momentum. Then, resistance at the 61.8% Fibonacci retracement level ($0.00000797) would come into focus. The crossing of this resistance can be seen as a bullish confirmation in the shorter time frames.<\/p>\n

Next price targets would then be the 50% Fibonacci retracement at $0.00000873, the 200-day EMA at $0.00000897, the 38.2% Fibonacci retracement at $0.00000949, and the 23.6% Fibonacci retracement at $0.00001043 before the yearly high at $0.00001596 would be within reach. A rise to this price level would mean a 60% rally for Shiba Inu buyers at the current price.<\/p>\n

\"Shiba
SHIB price , 4-hour chart | Source: SHIBUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from Victor Otero \/ Unsplash, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Shiba Inu (SHIB) continues to be in a pivotal make-or-break moment. As described in our last in-depth price analysis of SHIB, two chart patterns on the 1-week chart could continue to determine the future of SHIB price, and their outlooks could not be more different. We are talking about a bullish triple bottom that points to a possible end of SHIB’s two-year downtrend and a descending triangle that has been formed for over 13 months, indicating a bearish trend. Shiba Inu Price Analysis: Update At the moment, the bulls seem to have the upper hand. SHIB was trading at $0.00000741 at press time and managed a weekly close above the crucial support line of $0.00000715 on Sunday evening. With this, SHIB may have fended off the bears’ attack for now and is targeting a rise towards the descending triangle resistance line. The possibility of a validation of the triple bottom, a bullish chart pattern, thus remains. The chart pattern is characterized by three lows at roughly the same level, bouncing off a support level and culminating in a breakout above resistance. Related Reading: These Countries Are Picking Shiba Inu Over Dogecoin And Cardano However, the bulls remain vulnerable. If the SHIB price falls below the $0.00000715 support level, it could confirm the descending triangle and potentially push SHIB towards its year-to-date low of $0.000006. A break of this level could plunge SHIB into uncharted waters and make a new all-time low a grim possibility. On the way up, key resistances include $0.00000880 (23.6% Fibonacci), the descending triangle trendline at around $0.0000095 and $0.00001, $0.00001053 (38.6% Fibonacci), $0.00001193 (50% Fibonacci), and $0.00001332 (61.8% Fibonacci). As then, the August 2022 high at $0.00001784 could be extremely important resistance. 4-Hour Chart: SHIB\/USD In the shorter timeframes, such as the 4-hour chart, we can see that the bulls cannot yet feel secure (yet). SHIB is currently stuck in the trading range between $0.00000688 (78.6% Fibonacci) and $0.00000797 (61.8% Fibonacci). After briefly falling into oversold territory (below 30) on September 11, the RSI has now risen to 42. However, this metric also shows that sentiment remains subdued. Related Reading: Shiba Inu Hits Make-Or-Break Price: 250% Rally Or New All-Time Low? SHIB price urgently needs to break above the 20-day EMA at $0.00000759 on the daily close to generate fresh bullish momentum. Then, resistance at the 61.8% Fibonacci retracement level ($0.00000797) would come into focus. The crossing of this resistance can be seen as a bullish confirmation in the shorter time frames. Next price targets would then be the 50% Fibonacci retracement at $0.00000873, the 200-day EMA at $0.00000897, the 38.2% Fibonacci retracement at $0.00000949, and the 23.6% Fibonacci retracement at $0.00001043 before the yearly high at $0.00001596 would be within reach. A rise to this price level would mean a 60% rally for Shiba Inu buyers at the current price. Featured image from Victor Otero \/ Unsplash, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":551920,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[83668,89105,83667,87680,84562],"class_list":["post-551917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shib-price-analysis","tag-shiba-inu","tag-shibarium","tag-shibusd"],"acf":[],"yoast_head":"\nShiba Inu Gearing Up For A 60% Surge? 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