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Shiba INU Flashes Bullish Signals, Will Now SHIB Price hit $0.0003000?

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Mar 10, 2022

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Highlights

    Shiba INU price after a couple flip from the same support, rebounded in the early trading hours by nearly 10%

    Despite a minor consolidation in the short-term yet the asset displays extreme bullish signals that may escort the price close to $0.00003000

The SHIB price again flipped from the strong support levels, igniting a notable uptrend. After forming a triple bottom, the asset is now expected to be headstrong towards the upper target set at $0.0000300 initially. Therefore, the formed pattern points out towards a trend reversal. Where-in the SHIB price may be due for a bullish outlook. 

SHIB price found a new resistance of $0.0000227 which cleared firmly with a 75% surge on February 07. Further, as the asset advanced a little upside way, these levels acted as a strong support level. These levels hold the price strong a couple of times before and the most recent one now. Therefore forming a triple bottom, which usually breaks out in favour of bulls pointing towards a trend 

Also Read: Terra Roars High: What’s Next For LUNA Price ATH or a Pull Back?

The current flip from the strong support may eventually result in a continuation of an upswing towards the upper resistance of the descending triangle. However, the asset may face rejection before achieving the immediate target and continue to head towards the apex of the triangle. Later with a breakout from the triangle, a notable upswing towards the target at $0.00002736 appears could be possible. 

However, to reach the apex of the triangle, the Shiba INU price may again test the lower support yet again. And finally, break through the consolidation with a higher magnitude, yet reaching $0.00003000 still appears to be pretty much distinct. However, by the end of Q1, SHIB price may eventually attempt to regain the lost positions. But if the asset breaks down from the support zone, the bullish scenario may be invalidated. 

Also Read: AVAX Price To $100 Imminent With The Start Of Q2! Will Avalanche Lead This AltSeason 2022?

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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