Price Analysis

Shiba INU (SHIB) Price May Break Through the Consolidation Shortly, But Smashing $0.00003 Maybe a Tedious Job!

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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Apr 5, 2022

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Highlights

    Shiba INU from past couple of days displays some possibilities of rebounding firmly from the consolidation and hit $0.00002700 at the earliest

    The price seems to be waiting for a supportive boosts and hence may continue to chop around, maintaining a notable uptrend

Shiba Inu’s price in recent times has not displayed a significant amount of volatility but still, the crypto-verse believes the asset could offer better opportunities ahead. The asset is currently chopping around the narrow regions after a drastic plunge during the monthly close. No doubt the volume has dropped a little which also indicates the buyers being calm at the moment so that the price offers better buying opportunities. 

The SHIB price in the 4-hr chart seems to be flowing within a parallel channel and testing the lower support. Moreover, for the past couple of hours, the asset is displaying chances of slicing through the lower support but may not really do so. Therefore, after a brief accumulation, the SHIB price may be compelled to rebound towards the middle ranges of the channel. 

Also Read: Ethereum (ETH) Price Might Crash Heavily If This Happens! Here’s The Potential Low Level

However, in the long-term. The SHIB price has already flipped from the lower support zone. Moreover, the asset is consolidating slightly below the much-required resistance levels at $0.00003 from the last few days of March. And after squashing the descending trend a couple of times, the bearish narrative has been dismantled firmly. 

Therefore, just another push may pave way for the asset to quickly reach $0.00003 levels initially. And further, attracting huge volatility within the platform Shiba INU price could undergo a significant uptrend shortly. 

Also Read: BTC Price Fights the Immediate Resistance at $46,700 Displaying Signs of Smashing $100K in Q2 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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