Analyst Ali Martinez predicts that if the SHIB price breaks above the resistance level of $0.000038, it could experience significant upward movement
Cryptocurrency analyst Ali Martinez has identified a critical pattern for Shiba Inu (SHIB) on its 4-hour chart, hinting at a significant price movement if it manages a sustained close above the $0.000038 resistance level..
Ali Martinez highlighted SHIB's formation of a symmetrical triangle on the chart, suggesting a potential bullish breakout.
Maintaining a close above the $0.000038 resistance level could lead to a 40% surge in SHIB's price, targeting $0.000052. Conversely, dropping below the support level of $0.000033 might invalidate the bullish scenario.
Shiba Inu (SHIB) prices surge, emerging as a Dogecoin rival, fueled by community token burning activities and development initiatives
Considered a contender to "Dogecoin killer," SHIB ranks as the tenth-largest cryptocurrency by market capitalization, surpassing DOGE in recent gains.
Shiba Inu's significant uptrend, partly attributed to community hints at token burns, underscores its potential for price appreciation.
Lead developer Shytoshi Kusama's active involvement with the community and teases about decentralized SHIB world development add to SHIB's momentum.
Despite the potential for a surge, SHIB's price movement remains contingent on maintaining resistance levels, with a bearish scenario possible if support is breached.