Shiba Inus Bullish Trend: Will SHIB Hit $0.000081 For 179% Gains?
- Shiba Inu (SHIB) eyes a 179% price surge, targeting $0.000081 after breaking key resistance levels.
- With a recent breakout and higher lows forming, SHIB is primed for continued bullish movement.
- As SHIB rises 13.08% in 24 hours, the coin looks set to challenge new resistance levels for further growth.
Shiba Inu (SHIB) has been indicating a major bullish trend in recent days, which has brought the attention of the crypto enthusiasts back to this asset. In a recent X post, Javo Marks pointed to a very clear reaffirmation of a bullish trend for SHIB. He noted that the coin seems poised for more upside targeting the coin to hit $0.000081. This level of resistance is quite high and Marks indicate that a 179% price rise could be possible.
Shiba Inu Breaks Resistance
This analysis shows that SHIB has several bullish signals as presented in this analysis. The cryptocurrency has been able to close above important resistance levels, indicating that the uptrend will probably persist in the near future. The recent breakout suggests that the buy order accumulation is healthy and if the Shiba Inu coin continues to trade within this path, the $0.000081 target is likely to remain achievable.
Price charts also indicate that bearish patterns are very well defined in this case. Based on the retest of key support levels, SHIB has begun to rise again, form higher lows and therefore may enter an uptrend. The recent breakout on the daily chart is important because it is in line with previous price gains in the history of SHIB.
Bullish Momentum in the Market
Nevertheless, the focus on Shiba Inu has been on the recent performance of the token among retail and institutional investors. The potential of the coin to continue with the bullish trend will greatly rely on the coins ability to trade above important support levels as well as break through important resistance levels. At the time of writing, SHIB is at $0.00003061, up by 13.08% in the last 24 hours.
Source: TradingView
Shiba Inu is still bullish, and it may reassume the upward momentum to $0.000081, which would be a 179% rise from its current value. The risks are there but the recent performance of the coin together with the technical analysis indicate more gains in the near future. Investors should wait for the breakout confirmation and pay attention to the market trends as SHIB tries to push to new prices.
Read more: https://www.tronweekly.com/shiba-inus-bullish-trend-will-shib-hit-0-000081/
Text source: TronWeekly
