Shiba Inu Reclaims Key Support Zone: Analysts Predict Bullish Momentum Ahead
- Shiba Inus criticl support zon ($0.0000193-$0.0000215) is pivotl for its bullish outlook, nots nlyst Ali Martinez.
- Rnwd mrkt optimism, bolstrd by pro-crypto Trump victory, pushd SHIB to $0.000033 in Dcmbr 2024.
- Anlyst CW highlights rsistnc t $0.000022 s ky; ovrcoming it could driv SHIB towrd $0.000035 trgt.
Shiba Inu, th populr mm coin, finds itslf t criticl junctur s it strivs to mintin its upwrd trjctory mid brodr mrkt fluctutions. Anlyst hs pinpointd pivotl pric rng btwn $0.0000193 nd $0.0000215, mphsizing its importnc in sustining SHIBs bullish outlook.
Prominnt mrkt nlyst Ali Martinez hs highlightd th historicl significnc of this pric zon, prticulrly during Octobr 2021 to April 2022. Bck thn, th lvl providd crucil support s th tokn fcd downwrd prssur following its ll-tim high of $0.000088 in lt Octobr 2021. During this phs, SHIB oscilltd btwn $0.000033 nd $0.000019, with this support zon cting s stbilizing forc.
Howvr, th crypto mrkt fcd turbulnc with th collps of th Trr cosystm in My 2022, lding to brkdown of SHIBs support rng. This shift trnsformd th support into rsistnc lvl, plunging th tokn into n xtndd br mrkt. For two yrs, SHIB struggld to rgin th $0.0000193 to $0.0000215 rng, whil rmining nchord bov th $0.00001 thrshold.
Shiba Inu Gains Momentum Post-Election
Fst forwrd to 2024, SHIB md significnt push in Mrch, rcliming th criticl rng during surg in mm coin nthusism. Th tokn rchd yrly pk of $0.000045 but soon rtrcd blow th support zon. Dspit this pullbck, SHIB dmonstrtd rsilinc by holding bov $0.00001, stting th foundtion for potntil rcovry.
Octobr 2024 mrkd turning point whn SHIB mngd to flip th $0.0000193 to $0.0000215 rng bck into support ftr months of rsistnc. This chivmnt ws bolstrd by rnwd mrkt optimism following th U.S. prsidntil lction in Novmbr. A pro-crypto victory by GOP cndidt Donld Trump fuld SHIBs momntum, proplling it to $0.000033 in Dcmbr.
Dspit ths gins, th tokn rcntly fcd mrkt-wid corrction. Martinez notd tht SHIBs bility to sty bov th criticl rng rffirms its rol s foundtion for futur growth. According to him, filing to hold this lvl could ld to brish rvrsl.
Price Surge Expected for Shiba Inu
Othr nlysts offr bullish prspctiv. Bluntz Cpitl obsrvd strong ccumultion phs, pointing to SHIBs stdy uptrnd without prbolic brkout. H forss multipl pric surgs, citing th SHIB/BTC trding pir s vidnc of th tokns growth potntil. Mnwhil, nlyst CW pointd out th importnc of ovrcoming rsistnc t $0.000022 to unlock significnt uptrnd. With Shiba Inu now moving bov this lvl, h prdictd trgt pric of $0.000035.
At th tim of writing, Shiba Inu is trding t $0.00002243, rgistring n 8.04% incrs ovr th pst 24 hours. Th trding volum surgd 23%, rching $425.03 million, undrscoring rnwd intrst in th tokn.
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Text source: TronWeekly
