#๐ถ ๐ฆ๐๐๐ ๐๐ ๐ง๐ต๐ฒ ๐๐ฑ๐ด๐ฒ: ๐๐ถ๐ด ๐ ๐ผ๐๐ฒ ๐ข๐ฟ ๐๐ฟ๐ฒ๐ฎ๐ธ๐ฑ๐ผ๐๐ป?
Shiba Inu (SHIB) is now hovering near a key support level, and traders are watching closely โ a bounce here could trigger a massive rally, but a breakdown might drag it further.
๐ป Whatโs Happening on the Chart?
SHIB is forming a descending channel โ a bearish pattern where price drops within two downward lines.
But these patterns often lead to big upside reversals once price hits the lower support.
Crypto analyst Jonathan Carter says SHIB is retesting mid-channel support and could launch higher from here if demand kicks in.
๐ธ Key Upside Targets (If Bounce Happens):
0.00001250
0.00001500
0.00001730
0.00002000
These levels could come into play if buyers step in and defend support strongly.
๐ What Do Indicators Say?
RSI (Relative Strength Index) is below 50, suggesting neutral momentum. But it could flip bullish with buying pressure.
MACD is still bearish, but the gap between the MACD and signal line is narrowing โ an early sign of momentum shift.
Volume is spiking on green candles, showing buyer interest is returning at these lower levels.
๐ง What Should Traders Do?
โ Watch the support zone carefully. If SHIB bounces with strong volume, it could mark a bottom.
โ Avoid chasing a bounce too early. Wait for confirmation (e.g. daily close above 0.00001150 with rising volume).
๐ Use tight risk management. If price breaks below 0.00001000, that could invalidate the bullish setup.
๐ Summary
SHIB is sitting at a crucial level inside a long-term downtrend. The setup favors a bullish reversal, but only if buyers hold the line here. All eyes on the next move โ it could be the start of a 100%+ runโฆ or a deeper drop.