Shiba Inu Tests Critical Support Zone Amid Potential Major Price Movement
Shiba Inu (SHIB) Key Analysis:
- SHIB/USDT is at a critical support level between $0.00000850 and $0.00001183, which has consistently prevented declines since 2022.
- The market is exhibiting a volatility contraction, suggesting an imminent significant move.
- If SHIB closes above $0.00001580 with increased volume, it could signal a breakout, targeting levels of $0.00001940, $0.00002400, and $0.00003338.
- A failure to hold the base may lead to a decline towards $0.00000543, indicating potential further losses.
Investor Considerations:
- Optimistic investors view the current range as a favorable buying opportunity if SHIB can sustain above $0.00001580.
- Cautious traders await confirmation of direction before making significant moves.
As of the latest data, SHIB trades at $0.00001231.
