Crypto News – Once again, rejection is occurring at critical resistance levels of $0.000010995 for Shiba Inu (SHIB), the second-largest memecoin in the world.
SHIB Price Rejection: What Will a Shiba Inu Do After Being Rejected at $0.000010995?
It has been noted by cryptocurrency analyst Ali Martinez that since September 2022, Shiba Inu (SHIB) has been trading in a declining parallel channel. At the upper edge of this pattern, roughly at $0.000011, $SHIB is currently testing a crucial resistance level.
$SHIB may move above $0.000014 if there is a strong weekly closure above this barrier, which would suggest a bullish breakthrough. On the other hand, before the predicted bullish breakout, a rejection at this point could cause a regression to $0.000008.
Where is the SHIB Price Heading?
It’s imperative for SHIB to keep prices over the significant $0.000010 barrier. Resistance levels are predicted to be between $0.0000125 and $0.000015, and a breakout over $0.00001026 is crucial for sustaining the current trend.
Conversely, a decrease in value could occur, and Shiba Inu’s coin’s value could drop to $0.000008360 if it drops below $0.000010. The short-term trajectory of the cryptocurrency is being closely monitored by traders and investors by keeping a close eye on these crucial levels. The SHIB price climb to $1, however, is also being demanded by investors.
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