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Citigroup analysts recently shared their perspective on the cryptocurrency market, highlighting altcoins’ potential for growth in 2025. Ethereum, one of the few altcoins approved for a spot ETF since 2024, has drawn significant attention, positioning itself as a key candidate for rotation within the altcoin market.
Altcoin Adoption and Policy Shifts
While Bitcoin saw widespread institutional adoption, altcoins still await comparable momentum. That is why Citigroup sees the recent policy changes to create a supportive environment for altcoin growth.
With Bitcoin’s dominance well-established, Citigroup expects favorable policies to encourage investments in altcoins. Analysts predict that 2025 could witness the next “altseason,” potentially driving up prices for cryptocurrencies like Shiba Inu (SHIB).
Shiba Inu (SHIB) Price Trends and Levels to Watch
The price of Shiba Inu (SHIB) is currently experiencing a mild bearish trend. As of the latest data, SHIB is trading at $0.00002117, reflecting a 1.38% decline over the past 24 hours. The chart indicates a sharp decline followed by a series of recovery attempts.
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However, the price is still in a consolidation phase, with resistance levels proving difficult to break. The volume of $593.19 million, while still significant, has decreased by over 30% compared to previous levels, signaling a reduction in market interest.
Support and Resistance Levels for SHIB
Key support for SHIB is located around $0.00002100, where the price has previously bounced. A failure to maintain this level could see the price retesting $0.00002050, a stronger support point where buying interest was observed during previous dips.
On the resistance side, the immediate hurdle lies at $0.00002150, where SHIB has struggled to break above in recent attempts. A stronger resistance level exists at $0.00002180, a psychological level that has capped the price during recovery phases.
Technical Indicators and Market Sentiment
Looking at the RSI (Relative Strength Index), SHIB is currently showing a value of 39.61, indicating bearish momentum. However, the RSI is approaching oversold territory, suggesting that buying pressure could soon trigger a reversal.
The MACD (Moving Average Convergence Divergence) also points to a bearish trend, with the MACD line slightly below the signal line.
The histogram bars are shrinking, indicating that the bearish momentum is weakening. If the MACD crosses above the signal line, it could signal a potential trend reversal, offering a more bullish outlook for SHIB in the near future.
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