For more than a week, the SHIB price prediction stated that it has been declining, giving up nearly half of its gains. This downswing saw a reversal as it tagged a range low, implying a return to equilibrium.
The price of SHIB appears to be rising.
After a failed recovery attempt to move higher, the SHIB price is currently trading above a support level at $0.00000718. If the current bullish outlook holds, buyers will try to break through the first resistance level at $0.00000832.
Shiba Inu could rise to $0.00000885, the subsequent swing high, if it breaks through this barrier. If buyers keep coming in, the dog-themed cryptocurrency could retest the 50% Fibonacci retracement level at $0.00000937.
SHIB price prediction may sweep the swing high at $0.0000104 in a highly bullish scenario.
Shiba Inu, unlike other altcoins, does not appear to be willing to go higher. As a result, investors must proceed with caution. The supply barriers between $0.00000832 and $0.00000885 are critical in confirming an upswing.
As a result, short-term bullish momentum that fails to break through these levels indicates the possibility of a downswing.
A break of the range low at $0.00000653 will invalidate the bullish thesis and set off a 22 percent decline to $0.00000513. If sellers continue to pile up ask orders, SHIB PRICE could fall to $0.0000042.