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Shiba Inu price prediction: Why a 40% hike could be closer than you think

2min Read

The market structure on the daily chart is still bullish, and the OBV has made higher lows in the past five weeks.

Shiba Inu price prediction- Bulls move closer to a breakout

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  • Shiba Inu has a bullish structure but is stuck below a five-month resistance.
  • The daily RSI showed momentum was bullish as well.

Shiba Inu [SHIB] was stuck beneath a band of resistance at the $0.0000205 region. An earlier analysis showed that Shiba Inu retained a bullish outlook following the breakout from its descending wedge pattern.

The buying pressure behind SHIB has slowly been rising. A breakout past the highlighted five-month resistance should yield a strong bullish move.

Shiba Inu price prediction- at least 40% gains ahead?

SHIB 1-day Chart

Source: SHIB/USDT on TradingView

In late February and early March, Shiba Inu rallied by 389% in ten days. Since then, the steady selling pressure and the market-wide bearish sentiment in the summer saw the meme coin enter an extended downtrend.

As things stand, the $0.0000155 region has been a support zone since mid-September. The market structure on the daily chart is still bullish, and the OBV has made higher lows in the past five weeks.

This showed a build-up of buyer strength but did not signal a breakout would occur immediately. A strong Dogecoin [DOGE] may move or a meme-related piece of news would drive a SHIB breakout beyond $0.0000205.

Magnetic zone overhead hints at high chances of a retest

Shiba Inu Liquidation Heatmap

Source: Coinglass

AMBCrypto found that the 1-month lookback period liquidation heatmap has a cluster of liquidity around $0.00002, reaching up to $0.0000207. Its proximity to the token’s market prices meant that the short-term Shiba Inu short-term price prediction is bullish.


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A sweep of this liquidity cluster is likely to occur soon, but whether it will result in a breakout remains to be seen. More buying volume and a sentiment shift would be necessary.

Traders must watch out for the kind of explosive gains that occurred earlier this year in February. Beyond $0.0000205, the $0.0000295 level 40% higher is the next target.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

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Akashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis. In fact, Akashnath has a particular interest in reading price charts and predicting how an asset will move over the short and long term. A self-taught trader and as someone who holds cryptos himself, he is always on the lookout for the next opportunity he can possibly capitalize on, while also educating his audience.
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