Recent chart analysis suggests SHIB is at a critical point in its price movement. The weekly chart highlights two potential scenarios, defined by key price levels and trendlines.
Current Market Situation
The current analysis indicates two potential paths for SHIB. The first path shows SHIB maintaining bullish momentum, supported by a trendline and a demand zone known as D-POI. The second scenario predicts continued upward movement, targeting an extreme point of interest (E-POI).
Significance of the Trendline
The trendline plays a significant role in determining the support level for SHIB’s price. So far, the price has bounced along the trendline, keeping the bullish sentiment alive. If this trendline holds, SHIB could potentially rise towards the D-POI, a critical zone of interest. Traders will watch this area closely, as it may influence the next price move.
Key Levels of Interest
The D-POI, or Demand Point of Interest, represents a strong support area. This zone has seen previous buyer activity, which could drive the price upward again. SHIB’s price could continue to rise from this level, as long as market sentiment stays positive. Traders looking for bullish confirmation should keep an eye on how SHIB behaves near this zone.
SHIB is at a crucial stage in its price movement. Current charts imply a potential continuation of the bullish trend, supported by the trendline and demand zone (D-POI), or a move towards the extreme point of interest (E-POI). Traders should closely monitor the indicated levels as they may determine the next price movement.
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