Shib withdraws to ATH, but what is the next goal?

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key support level: 0.000060 $

key resistance level: $ 0.0001

Since our last Shiba Inu (Shib) analysis, Shiba's price has doubled again. The current all-time high is now $ 0.00008854.

Shibas break from the blue pennant (presented in our Last analysis ) has triggered a considerable rally that has reached a new all-time high, and despite a short withdrawal to support, Shib seems ready for more! The most obvious resistance is currently 0,000 1

Shiba could lose more 0 on the way to 1 cent, which is the goal of most fans. On the other hand, the support is currently $ 0.000060, which has been successfully tested today.

img1_Shib Chart according to Tradingview

Technical indicators of the Shib Prize

trading volume: The volume is still high and manages to keep the price at a very high level. The hype around Shiba is still strong and the volume reflects this. However, the resistance at 0.0001 USD will be difficult to crack.

rsi : The textbook says that in a strong upward trend is a good sign of an upcoming repentance when the RSI crosses 90 points. The daily RSI for Shiba is over 90 points, so it is important to be careful. This last day candle also looks like a roundabout, which could be a reversal signal.

macd : MacD is extremely bullish in the daily time frame. In the lower time frame in which weaknesses tend to occur earlier, Shiba shows lower highs in the 4-hour MacD histogram. It can also consolidate these levels and form a pennant before a potential attempt is made at 0.0001 USD.

img2_SHIB Chart according to Tradingview

bias

Extreme euphoria. Usually this indicates that a top can be made soon. However, Shiba could continue to rise before a turnaround.

Short-term prediction for Shib Prize

The key level, which all depends on, is $ 0.0001. Can Shiba break this resistance? If so, there could be another massive rally before reversal. However, many bulls could have this as a goal for profit treatment, since $ 0.0001 are an important psychological level in the Shiba community. This can lead to a sharp rejection of resistance and a significant decline in support.

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