SHIB is ready to fly!
Hello, Traders!
After setting a local high above the $0.000033 price level, SHIB entered a correction phase and is currently trading just above the $0.00002 level—approximately 35% lower than recent highs. This correction may represent a compelling buying opportunity for mid-term investors, as SHIB appears to have found its local bottom and shows signs of potential upward movement.
Yesterday's price action was particularly noteworthy: the price did not dip below the previous low, indicating a higher low, and the daily close remained above a critical support area.
These are bullish signals, suggesting that the correction phase might be coming to an end, with SHIB gearing up for a potential rally.
The first key milestone for SHIB in the short term will be to rise and hold above the $0.000025 level. Achieving this would confirm the recovery momentum and open the door for a retest of the recent highs around $0.000033.
Beyond that, if SHIB breaks past this resistance with strong volume, it could signal the start of a larger bullish trend, potentially targeting new highs.
For those seeking to capitalize on this opportunity, now could be the time to closely monitor SHIB price action and consider accumulating on dips, especially while it consolidates near $0.00002 level.
As always many depends on BTC and BTC.D as it remains to be the main driver for altcoins.
Please don’t forget to boost this idea and leave your comments below.
After setting a local high above the $0.000033 price level, SHIB entered a correction phase and is currently trading just above the $0.00002 level—approximately 35% lower than recent highs. This correction may represent a compelling buying opportunity for mid-term investors, as SHIB appears to have found its local bottom and shows signs of potential upward movement.
Yesterday's price action was particularly noteworthy: the price did not dip below the previous low, indicating a higher low, and the daily close remained above a critical support area.
These are bullish signals, suggesting that the correction phase might be coming to an end, with SHIB gearing up for a potential rally.
The first key milestone for SHIB in the short term will be to rise and hold above the $0.000025 level. Achieving this would confirm the recovery momentum and open the door for a retest of the recent highs around $0.000033.
Beyond that, if SHIB breaks past this resistance with strong volume, it could signal the start of a larger bullish trend, potentially targeting new highs.
For those seeking to capitalize on this opportunity, now could be the time to closely monitor SHIB price action and consider accumulating on dips, especially while it consolidates near $0.00002 level.
As always many depends on BTC and BTC.D as it remains to be the main driver for altcoins.
Please don’t forget to boost this idea and leave your comments below.
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