Price Analysis

This is How Shiba INU (SHIB) Price is all Set to Jump Nearly 20% if These Levels are Attained!

Written by: Sahana Vibhute

Written by right arrow

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.

  • author facebook
  • author twitter
  • linkedin

Apr 22, 2022

news-image
Highlights

    Shiba InU continues to swing within a descending triangle, after being rejected from $0.00003 a couple of times

    Withnessing the current declining consolidation, the price appears to be all set to break out towards the north

After a brief upswing, the Shiba INU price witnessed a drop in the price in the late trading hours of the previous day’s trade. The price was initially expected to continue within a serious descending trend but, it seems that the bulls have yet some other plans to execute. However until and unless the SHIB price ranges beyond $0.000026000 no dominance of the bulls may be determined. 

Shiba INU(SHIB) price is currently under tremendous descending pressure that ignited some days before. Since then the price has faced a couple of rejections at pivotal levels near $0.00003. However on the flip side, considering the trend from the lower end, the asset trends within an ascending triangle. Additionally, in the past couple of hours, the volatility has reached the bottoms and hence compelling the price to range within minor regions. 

Also Read: Bitcoin(BTC) Price Undergoes a Harsh Rejection, Yet Committed to Hit $65,000 in the Next Couple of Months!

Currently, SHIB appears to have approached a phase where-in both the buyers and sellers may hold equal dominance. This may embark a spark which could ignite a strong uptrend towards the immediate highs or less drag to the bottoms. However, the weekends are expected to turn the tables and hence the fresh weekly trade is maybe pretty bullish. 

The SHIB price following a bullish trend may eventually test the immediate resistance at $0.00002500 initially and continue to swing high until it reaches $0.00002800 levels. Further, the price may not stop with just a 15% upswing as a strong bull run may get ignited as it slices through the pivotal levels at around $0.0000300 levels. 

Also Read: Altcoins Which are Currently Passive but May Regain the Bullish Momentum Very Soon!

Show More

Was this writing helpful?

dislikeimage No myImage Yes

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.

Related Articles

Back to top button