

Shiba Inu (SHIB) appears ready to extend its recent gains, as the daily technical technical setup suggests that the meme coin may be primed for a 30% rally
.000025" >
Shiba Inu (SHIB) appears ready to extend its recent gains, as the daily technical technical setup suggests that the meme coin may be primed for a 30% rally.
Also, key support levels and increasing buying pressure indicate favorable conditions for an upward move.
But can SHIB’s price rise higher than it has this week? This analysis looks at the possibility.
Shiba Inu Forms Cup-and-Handle Pattern
On the daily chart, BeInCrypto observed that SHIB has formed a cup-and-handle pattern. The cup and handle is a bullish technical chart pattern that resembles the shape of a “U” (the cup) followed by a slight downward drift (the handle). This pattern indicates the potential continuation of an uptrend.
As seen below, the SHIB technical setup shows that the meme coin formed the cup between mid-July and early October. During this period, the token moved between $0.000013 and $0.00018.
The handle, however, formed earlier last month and is still in place at the time of writing. This suggests that SHIB’s price could be ready for a significant breakout. Therefore, if buying pressure increases, the meme coin’s value might soar higher than $0.000019.
Meanwhile, the Money Flow Index (MFI) indicates growing buying pressure, further supporting the potential for a continued uptrend.
The MFI is a technical oscillator that combines price and volume data to assess an asset’s buying and selling pressure. It moves between 0 and 100, with values above 80 often indicating an overbought condition and values below 20 suggesting an oversold market.
When the MFI reading drops, it means that selling pressure is present. However, the indicator is currently rising, indicating that investors have resolved to buy SHIB. Hence, if this remains the same, the meme coin’s value might continue to rise.
SHIB Price Prediction: Target Aimed at $0.000025
Another look at the daily chart shows that SHIB faces resistance around its current value. However, with the buying pressure indicated by the MFI, it can overcome the obstacle.
BeInCrypto also used the Fibonacci retracement index to analyze the extent to which the SHIB technical setup can take the meme coin.
Fibonacci retracement levels are horizontal lines drawn on a price chart to identify potential support and resistance levels. These levels correspond to key Fibonacci ratios (23.6%, 38.2%, 50%, 61.8%, and 100%).
If the price bounces off these levels, it suggests that the previous trend may continue in the same direction. As seen below, SHIB’s price has bounced off the 61.8% level. As such, the token’s price might increase by 30% to $0.000025.
On the other hand, if the token fails to breach $0.000020, this prediction might not come to pass. Instead, SHIB might drop to $0.000015.
The above is the detailed content of Shiba Inu (SHIB) Price Prediction: SHIB Forms Cup-and-Handle Pattern, Aims 30% Rally to $0.000025. For more information, please follow other related articles on the PHP Chinese website!

目录PEPE定义SHIB定义PEPE 与SHIB:市场表现分析PEPE 与SHIB:技术分析与见解柴犬是好的投资吗?PEPE是好的投资吗?PEPE VS SHIB:冲突!在最近的市场低迷之后,全球加密货币场景正在寻求反弹,投资者将注意力集中在柴犬(SHIB)和佩佩(PEPE)等模因币上,作为潜在的复苏候选者。由于近几个月来这两种加密货币都经历了价格波动,问题就出现了:哪种加密货币能够更快地恢复势头?随着投资人密切关注市场,PEPE 和SHIB 之间的复苏竞赛愈演愈烈。请继续关注这场令人兴奋的加密

柴犬币(SHIB)预计将在2023年以约30%的涨幅结束,这与比特币(BTC)、以太坊(ETH)、Solana(SOL)和瑞波币(XRP)等许多其他主要加密货币相比较,它们分别上涨了150%、92%、940%和82%。

The investor known for his influential commentary on cryptocurrencies, took to Twitter to express his confidence in Shiba Inu, despite the token's recent

Despite SHIB's price struggling to find a footing in the past few months, the Shiba Inu ecosystem has been experiencing some remarkable developments behind the scenes.

Mid-cap meme cryptocurrencies Floki (FLOKI) and Dogwifhat (WIF) are on the list of the worst performing cryptos in the top 100 today.

The WallitlQ (WLTQ) crypto wallet has recently become the talk of the crypto space. The wallet's highlight is the viable WLTQ Ethereum token

SHIB 目前仍处于上升趋势,自十月的低点以来上涨约60%。这加密货币也继续保持在其21日移动平均线的上方。然而,目前有可能出现破坏这种趋势的情况。可能导致短期下跌。假如发生熊市,很可能会迅速重新测试支撑区域,即在0.000009美元至0.0000095美元之间,这区域是50日移动平均线的位置。在技术分析中,突破支撑区域可能意味着进一步的下跌趋势。

随着柴犬币(SHIB)价格目前从最近低点上涨近10%,一些看涨者开始质疑是否开始了新的涨势。柴犬币价格接近0.000000925美元,从上周在0.0000085美元以下进行的三次低点反弹而来。随着整个加密货币市场的回暖,Shiba Inu价格出现了涨势。

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

WebStorm Mac version
Useful JavaScript development tools

PhpStorm Mac version
The latest (2018.2.1) professional PHP integrated development tool

SublimeText3 Linux new version
SublimeText3 Linux latest version

Notepad++7.3.1
Easy-to-use and free code editor

MinGW - Minimalist GNU for Windows
This project is in the process of being migrated to osdn.net/projects/mingw, you can continue to follow us there. MinGW: A native Windows port of the GNU Compiler Collection (GCC), freely distributable import libraries and header files for building native Windows applications; includes extensions to the MSVC runtime to support C99 functionality. All MinGW software can run on 64-bit Windows platforms.
