$SHIB
🚀 Technical Indicators Show Bullish Trends for Shiba Inu 🚀
The SHIB monthly chart indicates a long-term rounding bottom pattern forming since 2023. It often signals a potential trend reversal.
SHIB has broken above the 78.6% Fibonacci retracement level near $0.00000420, with key upside targets at $0.00006318 and $0.00009000, corresponding to the 100% and 127.2% Fibonacci extensions.
The Directional Movement Index (DMI) confirms bullish momentum, as the +DI is above the –DI and the ADX is near 45, suggesting a strong trend. However, analysts caution that a rise in volume is necessary for SHIB to break above $0.00001644. It aligns with the middle Bollinger Band.
When writing, the trading volume was low compared to peaks in 2021 and 2022. If volume increases and SHIB holds above $0.00001500, a move toward $0.000063 could follow. Otherwise, a retest of support near $0.00000420 is possible.