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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

SHIB Price Prediction: Shiba Inu Rally Turns Attractive Above $0.0000125

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
SHIB Price Prediction

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SHIB price (Shiba Inu) started a strong increase above the $0.0000125 resistance against the US Dollar. Shiba Inu is now showing bullish signs and might rally further.

  • Shib price started a strong increase from the $0.000010 support against the US Dollar.
  • The price is now trading above $$0.000012 and the 100 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $0.000014 on the 4-hours chart of the BNB/USD pair (data source from Binance).
  • The pair remains well supported for more gains above the $0.0000155 and $0.000016 levels.

SHIB Price Rallies Over 20%

In the past few days, shib price formed a support base above the $0.000010 level. The bulls were active and they were able to pump the price above the $0.000012 $0.000014 resistance levels.

The price is up over 20% in a few days and there was a move above the $0.000015 resistance, outperforming to bitcoin and ethereum. The price traded to a new 2023 high at $0.0000157 and recently started a short-term downside correction.

There was a minor decline below the $0.000015 level. The price declined below the 23.6% Fib retracement level of the upward move from the $0.0000113 swing low to $0.0000157 high.

SHIB price is now trading above $$0.000012 and the 100 simple moving average (4-hours). There is also a key bullish trend line forming with support near $0.000014 on the 4-hours chart of the BNB/USD pair.

SHIB Price Rallies Over 20%

Source: SHIBUSD on TradingView.com

On the upside, the bears are protecting the $0.000015 and $0.0000155 resistance levels. The next major resistance is near the $0.0000162 level, above which the price is likely to aim a test of the $0.000018 level in the near term. Any more gains might send the price towards the $0.000020 level.

Dips Supported in Shiba Inu?

If shiba inu price fails to clear the $0.0000155 resistance, it could slowly move lower. An initial support on the downside is near the $0.000014 level.

The first major support is near the $0.0000135 level. It is near the 50% Fib retracement level of the upward move from the $0.0000113 swing low to $0.0000157 high. The next major support is near the $0.0000125 level. If there is a downside break below the $0.0000125 support, there could be an extended decline towards the $0.0000115 support.

Technical Indicators

4-Hours MACD – The MACD for SHIB/USD is losing pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for SHIB/USD is currently above the 50 level.

Major Support Levels – $0.000014 and $0.0000125.

Major Resistance Levels – $0.000015, $0.0000155 and $0.0000162.

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Reason to trust

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