Shiba Inu Price Forms Double Bottom at Demand Zone Indicating Possible Rally
Shiba Inu's price has decreased over 85%, dropping it from the top 20 cryptocurrencies by market cap. A recent analysis indicates a potential bullish reversal due to a classic double bottom pattern forming around the $0.000012 demand zone.
Key Points
- The current price level below $0.000013 signals a critical juncture for Shiba Inu.
- The double bottom formation typically leads to significant price rallies in cryptocurrencies.
- If the price breaks through resistance at $0.000013, it may reach higher levels between $0.00001428 and $0.00001445.
- Failure to maintain above the $0.000012 level could result in a bearish trend, potentially driving the price down to $0.000011.
