Shiba Inu price prediction: Can SHIB surpass $0.00001?
Investors are hesitant to buy digital assets due to the recent market sell-off following the approval of Bitcoin ETFs by the SEC. This has resulted in a less attractive market, with investors more inclined to sell crypto rather than seek new exposure. The weakened market sentiment is impacting the technical structure across the board.
To confirm a bullish trend, Shiba Inu needs to break above the immediate resistance at $0.0000094, marked by the 20 EMA. This move would also trigger a buy signal from the MACD indicator, indicating an upward trend.
The most significant development for bullish traders would be if Shiba Inu’s price surpasses the pivotal level of $0.00001. This would attract more traders and increase confidence in the bullish thesis.
Although the daily MACD is bearish, there is potential support at the 200-day EMA at $0.00000898. It is crucial for Shiba Inu’s price to hold above this support to avoid further losses.
If the 20-day EMA falls below the 50-day EMA, there could be a bearish crossover, highlighting the importance of maintaining support at the confluence level.
Hot Take: Will SHIB experience a breakout?
The path of least resistance for Shiba Inu’s price seems to be changing as it respects support at $0.0000092. While not strongly bullish, SHIB reached $0.00000092 during US business hours on Friday. By heeding key buy signals and entering new long positions in SHIB, this upward movement could continue into the weekend and potentially lead to a breakout above $0.00001.
By
By
By
By
By