Shiba Inu (SHIB) is trading around $0.00001321, fluctuating within a narrow range. By analyzing different timeframes, we can identify potential key levels and movements.
4-Hour Chart Breakdown
SHIB recently attempted a breakout from a descending wedge, a pattern often associated with bullish reversals. However, price action remains constrained beneath a strong resistance at $0.000021. If buyers step in and break through this level, SHIB could rally toward $0.000025. Failure to sustain momentum, however, might lead to another dip, testing the $0.00001369 support level.
1-Hour Chart Signals
On the 1-hour chart, SHIB’s movement is at a crucial crossroads, near a key resistance zone within the wedge pattern, presenting two potential outcomes: - **Bullish Breakout:** A push above $0.00001531 with strong volume could confirm a trend reversal, setting sights on $0.00001955. - **Bearish Rejection**: If resistance holds firm, SHIB may retreat, with $0.00001369 acting as the first major support level. Momentum indicators suggest a possible upside move, but confirmation is required before committing to a direction.
15-Minute Chart Short-Term Outlook
In the 15-minute timeframe, SHIB is consolidating around the middle Bollinger Band, signaling low volatility before a potential breakout. Immediate resistance remains at $0.00001531, aligning with Fibonacci retracement levels. A break higher could spark a rapid price surge, while failure may lead to another test of support at $0.00001369.
SHIB is at a pivotal point, with a breakout above $0.00001531 potentially leading to a rally toward $0.00001955. If bullish momentum fades, expect a retest of $0.00001369 or lower.
