- A price rally may occur if traders overcome the $0.0000123 resistance level.
- The RSI currently sits at 56.21 points to moderate bullish forces as Bollinger Bands have started to tighten indicating less market volatility.
- Despite a 4.3% price increase, trading volume dropped 39.26%, signaling cautious market participation.
Though current market conditions indicate a lack of momentum, SHIB has historically relied on strong community and speculative support.Thus, SHIB has been progressively falling over the last few weeks as short-term moving averages have been driving it lower.But as of today,Shiba Inu (SHIB) has gained momentum, currently trading at $0.00001214, up 4.3% in the last 24 hours.
This price boost comes alongside gains against Bitcoin (+2.5%) and Ethereum (+3.6%), hinting at growing market strength. Despite its stable market capitalization of $7.16 billion investor caution is indicated by a 39.26% decline in trading volume which now stands at $297 million.
SHIB Support and Resistance Key Levels
The price movement shows that SHIB current support level is trading at $0.00001136 while its resistance at $0.0000123, indicating a moderate level of volatility. The price movement suggests a bullish trend in the short term. SHIB is testing its upper resistance levels with a stronger safety level $0.0000123 psychological level,breaking above it could lead to further price appreciation.
The important resistance at $0.00001136 provides essential protection against major price declines, thus a price drop below the $0.00001136 support level might initiate a more intense market correction.SHIB’s recent price movement suggests a potential breakout scenario if the bullish momentum continues. The increase in BTC and ETH valuation indicates investor confidence, possibly leading to further gains. However, a rejection at current resistance levels may result in short-term consolidation.
SHIB Stabilizes as Technical Indicators Signal Strength
The Shiba Inu Bollinger Bands appear to be contracting, signaling a period of reduced price fluctuations. The price is moving toward the lower band, which often suggests persistent downward pressure and a potential oversold condition.
The RSI is currently at 56.21 showing neutral to slightly bullish zone, meaning there is some buying momentum, but not enough to classify the asset as overbought. If RSI moves above 60, it could indicate growing bullish momentum and a possible market cap recovery.
SHIB Price Prediction for March 13
Coincodex have predicted that Shiba Inu is likely to decline to reach $ 0.00001206 price with a 1.75% increase in it potential ROI price. However, the next five days, Shiba Inu is expected to rise up to $ 0.00002675 representing 117.67% growth compared to the current price.
