Preparation for Double-Bottom Breakout: SHIB price shows signs of gearing up for a double-bottom breakout rally.
Long-Tail Candle at 50-Week EMA: A long-tail candle on the SHIB chart indicates strong buyer interest, bouncing from the 50-week EMA.
Potential Rally to $0.00001438: A successful breakout could propel SHIB to a new rally, potentially reaching $0.00001438.
Bullish Rebound in the Market: SHIB is rebounding along with the broader crypto market, gaining momentum from Bitcoin's positive trend.
5.85% Jump in 48 Hours: SHIB has experienced a 5.85% increase within the last two days, indicating a resurgence in buying interest.
Challenging Overhead Neckline: SHIB is currently challenging the neckline of its double-bottom pattern at $0.00001025.
Trading Above Psychological Mark: SHIB is trading slightly above the crucial psychological level, supported by strong momentum.
Technical Indicator - MACD: The MACD suggests a positive trend, indicating a potential continuation of the uptrend.
Breakout Potential: The market's recovery hints at a possible smooth bullish progression for SHIB, with a key focus on sustaining above $0.000010.
Next Resistance Levels: Post-breakout, the next resistance levels for SHIB are identified at $0.0000125 and $0.000015.
Risk of Decline to $0.000008360: If SHIB fails to maintain its momentum, there's a risk of it dropping to $0.000008360.
Long-Tail Candle at 50-Week EMA: A long-tail candle on the SHIB chart indicates strong buyer interest, bouncing from the 50-week EMA.
Potential Rally to $0.00001438: A successful breakout could propel SHIB to a new rally, potentially reaching $0.00001438.
Bullish Rebound in the Market: SHIB is rebounding along with the broader crypto market, gaining momentum from Bitcoin's positive trend.
5.85% Jump in 48 Hours: SHIB has experienced a 5.85% increase within the last two days, indicating a resurgence in buying interest.
Challenging Overhead Neckline: SHIB is currently challenging the neckline of its double-bottom pattern at $0.00001025.
Trading Above Psychological Mark: SHIB is trading slightly above the crucial psychological level, supported by strong momentum.
Technical Indicator - MACD: The MACD suggests a positive trend, indicating a potential continuation of the uptrend.
Breakout Potential: The market's recovery hints at a possible smooth bullish progression for SHIB, with a key focus on sustaining above $0.000010.
Next Resistance Levels: Post-breakout, the next resistance levels for SHIB are identified at $0.0000125 and $0.000015.
Risk of Decline to $0.000008360: If SHIB fails to maintain its momentum, there's a risk of it dropping to $0.000008360.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.