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Shiba Inu (SHIB) Recovery Gains Momentum as Analysts Predict Massive Upside Potential Ahead

Munene Timothy by Munene Timothy
December 25, 2024
in Market News, Price Analysis
Reading Time: 3 mins read
Shiba Inu (SHIB) Recovery Gains Momentum as Analysts Predict Massive Upside Potential Ahead
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  • SHIB eyes $0.000026 as Fibonacci’s 61.8% level at $0.00002319 turns key; breakout could target $0.000029 on bullish momentum.
  • Bollinger Bands show $0.00002367 resistance; MACD crossover supports mild bullish momentum in SHIB’s consolidation phase.
  • Javon forecasts a 234% SHIB surge to $0.000081, pending breaks of $0.0000120–$0.0000140 resistance in the broader bullish trend.

Shiba Inu has shown recovery potential from a downtrend. Analyst Ali indicates a “buy” signal from the TD Sequential indicator on the daily timeframe. This signal suggests a possible price rally to $0.000026 or $0.000029, supported by Fibonacci retracement levels. 

Meanwhile, Javon predicts a climb toward $0.000081, a potential increase of 234%. Ali and Javon focus on support and resistance levels and recent trends  providing a detailed outlook for SHIB.

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Key Fibonacci Levels

Ali notes that the price is at $0.00002319, around the 61.8% Fibonacci retracement level. This level, often considered as an important point, currently acts as resistance. At press time SHIB had a 2.58% increase in the past 24 hours, a mild bullish momentum.

Source: Ali

Fibonacci retracement levels from $0.00001850 to $0.00003344 outline potential support and resistance zones. Immediate resistance lies at $0.00002319, with the next levels at $0.00002487 and $0.00002667. 

On the downside, $0.00002100 and $0.00001850 provide support. These levels show areas where price action could slow or reverse based on market sentiment.

Bollinger Bands and MACD 

On a 4 hour timeframe the price is near the upper Bollinger Band at $0.00002367, suggesting potential resistance. The middle band at $0.00002224 acts as the dynamic support, while the lower band at $0.00002082 is the key support zone.

Source: TradingView

The MACD shows a bullish crossover, with the MACD line above the signal line and positive histogram bars. However, small histogram bars indicate mild momentum rather than a big rally. The price consolidation between $0.00002224 and $0.00002367 suggests market indecision.

Longer-Term Outlook 

Javon’s broader trend outlook adds a different perspective. He identifies a parabolic rise followed by descending triangles and consolidation patterns. SHIB recently broke out from a falling wedge, a bullish confirmation phase. 

$SHIB (Shiba Inu) adds bullish signals and the road to $0.000081 is looking like it will continue!

A more than 3.33X in an over 234% climb for Shiba is in the cards… https://t.co/UmANSZqJam pic.twitter.com/ceBWBw6ypv

— JAVON⚡️MARKS (@JavonTM1) December 24, 2024

Support at $0.0000080 appears critical for maintaining momentum, with resistance zones at $0.0000100–$0.0000110 and $0.0000120–$0.0000140.

Despite recent dips, Javon sees a potential climb to $0.000081 if resistance levels are overcome. The current retracement phase is the standard market cycles, with volume and sentiment likely to be key in SHIB’s next move.

Tags: Price AnalysisShiba Inu (SHIB) News

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