The price of Shiba Inu (SHIB) has shown a significant rebound from the $0.000012 mark, targeting $0.000014 in the short term. Support from the 50-day Exponential Moving Average is contributing to this recovery.
Shiba Inu Price and Technical Analysis
Currently, SHIB is trading between the 50 EMA support and the 100 EMA resistance, forming a potential symmetrical triangle, indicating possible consolidation.
Growth Prospects and Key Levels
Shiba Inu's price movement indicates a symmetrical triangle structure, often preceding volatility spikes. A decisive close above the 100 EMA, just below $0.0000135, is essential for confirming an upward move.
Trader Recommendations
Monitoring key support and resistance levels is crucial. A drop below the 50 EMA risks revisiting the $0.0000118–$0.0000115 range, leading to further decline. As noted by a project spokesperson: "Breaking above the 100 EMA could give buyers a short-term advantage."
Monitoring these key levels is essential for traders analyzing Shiba Inu’s next moves, as market dynamics continue to evolve in response to these technical signals.
