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- Shiba Inu is moving in an ascent channel with potential to reach $0.00003511 soon.
- The digital asset has substantial backing near Fibonacci levels, keeping its positive trend intact.
- Clear momentum above $0.00002715 could unlock new recovery targets for Shiba Inu in the coming days.
The token is trading at $0.00002186 and maintaining its position above strong FIB reconstruction support levels. The support zone lies between $0.00002139 and $0.00001939, which aligns with the Fibonacci 0.618 and 0.786 levels. These boundaries are key to sustaining the current uptrend, with financiers closely monitoring for an indication of strength.
Source: Rose Premium
The analysis, shared by cryptocurrency expert Rose Premium (@VipRoseT), highlights three price targets for SHIB’s recovery. The first target at $0.00002715 represents an immediate resistance level. If SHIB surpasses this level, it could pave the way for a rally toward the next target at $0.00003083. The major resistance level at $0.00003511 marks a milestone, signaling a probable shift in investor momentum.
Support Levels Offer Stability for Shiba Inu
The Fibonacci 0.618 consolidation level near $0.00002139 is acting as a strong foundation for Shiba Inu’s current price. Additionally, the support extends down to $0.00001939, aligning with another critical FIB level. These levels have helped SHIB maintain stability as it prepares for a potential upward movement.
Furthermore, SHIB’s price is following an ascending channel pattern, which provides a structure for its potential recovery. The lower boundary of the channel is helping to maintain the bullish sentiment, while the upper boundary offers room for growth. However, failure to hold the support could lead to downside risks that might disrupt this positive trend.
The upward channel remains important for defining the price’s direction, and its role becomes more significant as SHIB approaches the critical targets. Investors are keeping a close watch on these developments to identify a clear trend.
Key Targets for Shiba Inu’s Potential Rally
Rose Primium’s analysis identifies $0.00002715 as the first major target for SHIB, which is essential for confirming a bullish outlook. Reaching this level could trigger further momentum toward $0.00003083, which is the intermediate resistance point.
Achieving $0.00003511 would represent the ultimate goal in the current setup, marking a strong recovery for the cryptocurrency. The ascending channel supports this projection, offering clear resistance and support zones. However, SHIB needs consistent momentum and strong trading volumes to reach these levels.