The price of Shiba Inu is under pressure, trading within a symmetrical triangle. This article reviews the current status and potential forecasts for the cryptocurrency.
Current Situation
The price of Shiba Inu (SHIB) is approximately $0.0000123, caught between support and resistance levels. The outcome of this consolidation phase is expected to define its future trajectory.
Possible Scenarios
Should SHIB break below the triangle's lower boundary and fall under the $0.00001 mark, it could signal a bearish trend, resulting in potential lows around $0.0000095. Conversely, a move above the upper boundary would allow an attempt to challenge the $0.000013 resistance level.
Predictions and Conclusions
SHIB is at a critical juncture. Increased volatility is anticipated as investors decide on the direction. It could either rally upwards towards recovery or continue its current consolidation with risks of losing support levels.
Shiba Inu remains in a state of uncertainty. Investors should closely monitor its movements, as this consolidation phase may lead to significant future changes.
