SHIB Faces Critical Resistance But Will It Explode? Three Things to Watch on the Weekend
Shiba Inu has made an impressive recovery this week but can he break key resistance?
Key Support levels: 0.0000095 USD
Key Resistance levels: $0.000010
1. Rollback in progress
After a rough start in 2024, SHIB has finally returned to its uptrend as buyers are eager to take center stage. The price is rising and quickly approaching the major resistance at $0.000010. Current support is $0.0000095.
Chart by TradingView
2. Momentum Shifts to the Bullish Direction
On the daily time frame, the RSI broke above 50 points and ended the downtrend. This change in price action is also supported by increased purchasing volume.
Chart by TradingView
3. Is a Bullish Cross on MACD Nearby?
This week’s price action has caused the daily MACD histogram to form higher lows, and now an uptrend looks imminent if the bulls maintain the pressure. The only obstacle remains key resistance.
Chart by TradingView
Prejudice
SHIB’s trend is bullish.
Short Term Forecast on SHIB Price
Watch for key resistance at $0.000010. If it breaks, SHIB could enter a sustained rally with new highs in January.
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Cryptocurrency charts from TradingView.
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