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• Shiba Inu (SHIB) recently broke out of an ascending wedge, confirmed by the move above a key resistance level.
• The breakout was retested in a brief pullback, and buyers rushed to enter when it was complete.
• The MACD histogram is also making higher highs at a growing pace, signaling that the price may be only starting its bullish trend.
SHIB Confirms Breakout
Shiba Inu (SHIB) recently broke out of an ascending wedge, confirmed by the move above a key resistance level at $0.0000094. The breakout was retested in a brief pullback, and buyers rushed to enter when it was complete.
Bullish Momentum Growing
The MACD histogram is also making higher highs at a growing pace, signaling that the price may be only starting its bullish trend. This puts SHIB in a clear bullish bias that could bring it to test its next significant target of $0.0000012.
Key Support & Resistance Levels
Key support levels for SHIB are currently found at $0.0000094 while key resistance levels are found at $0.0000012. If the current momentum continues, then SHIB has good chances of reaching this next significant target soon.
Short-Term Prediction for SHIB Price
As long as the bullish bias remains intact, a test of this level appears likely in the short term future for Shiba Inu (SHIB). This will depend on whether or not buyers can keep up with the current momentum and push SHIB’s price above $0.0000012 in order to reach new all time high prices for this cryptocurrency asset class.
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