Shiba Inu (SHIB) maintains its position after the 2022 breakout despite market volatility and price fluctuations. Analysis indicates long-term goals to achieve over 450% increase.
Analyst Perspective on SHIB’s Potential
Crypto trader Javon Marks highlights that the SHIB breakout remains intact, and the market structure supports movement towards higher prices. Maintaining support levels is a pivotal factor.
Market Trends And Major Levels
SHIB/USDT is exhibiting a bearish trend on its daily graph, recently breaking below a significant support level. Key support level is at $0.00001310, with potential decline to $0.00001200 if breached. A breakout above resistance at $0.00001550-$0.00001600 could drive SHIB towards $0.00001800.
Technical Indicators and Current Price
The Relative Strength Index (RSI) at 40.38 reflects weak momentum. However, a rise above 50 may signal increased buying interest. SHIB trades at $0.00001466, having risen 3.52% over the past day.
Shiba Inu (SHIB) maintains its position despite recent market fluctuations. Technical indicators suggest potential for further growth.
