Shiba Inu (SHIB) Market Analysis Update
Weekend Momentum: Potential Breakout Brewing
Shiba Inu is showing early signs of a breakout after a period of underperformance compared to other meme coins. Price action has recently pushed above the key 1500 level (0.000015), but the real test lies at the 1600 resistance zone — historically a strong level.
Entry Zones:
Aggressive Entry: On a breakout above 1600 with confirmation (high volume, strong close).
Safer Entry: On a retest and bounce from 1500 support zone.
Targets:
Target 1: 1900 (0.000019)
Target 2: 2100 (0.000021) - Aligned with the yearly rolling VWAP.
Stop Loss:
Conservative stop: Below 1350 support (where the POC of the range lies).
More aggressive stop: Below 1500 if entering after the breakout.
Technical Notes:
Volume is increasing but not yet at peak breakout levels — watch for volume confirmation.
High time frames (12H and above) are key to validating the breakout.
Short-term volatility is expected, especially over the weekend with potential market news.
Risk Factors:
Weekend volatility and possible de-risking.
Potential spike down to 1350 support before continuation.
Outlook:
Despite short-term risks, SHIB appears to be lagging and setting up for a catch-up rally. If volume supports a clean break above 1600, the next leg up toward 1900-2100 is highly likely.
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