What is the next goal of Shib after another daily increase by 20 %?

Von Krypto News Österreich

key support levels: 0.000042 $

key resistance level: 0.000062 $

The Shiba Inu (Shib) rally continues with another impressive boost of over 20 %.

Shib exceeded all expectations and doubled again in about a week. This shows that the attractiveness of meme coins exceeds many basic arguments on the Altcoin market. The Shiba Inu chart is clear that the price increases parabolic with a possible resistance at the next Fibonacci level, as stated in the chart. On the other hand, the area around $ 0.000042 seems to be a good candidate for support.

Whenever there are coins in a parabolic movement, the support and resistance lines can change very quickly, especially if coins like Shib are in the price finding. The market forces have to find a new balance in order to define the level of support and resistance, which can require several tests, which means that high volatility can be expected.

img1_SHIB Chart after tradingview

Technical indicators of the Shib Prize

trade volume : The volume has exploded with this rally, but now seems to fade. It is therefore important to keep an eye on the parabolic trend line, as Shiba, as soon as it is broken, could enter into a correction.

rsi : The RSI is located in the overbought area and continues to rise. This shows that bulls have full control over the market.

macd : MacD is very bullish, but it is important to pay attention to signs of weakness in the 4-hour time frame. The histogram forms lower highs in this time frame. If the price falls below the parabolic trend line, a sweater can occur.

img2_SHIB Chart according to tradingview

bias

bullish. This tendency should only be covered if Shiba breaks under the support at $ 0.000042.

Short-term price forecast for Shib Prize

The break from the descending triangle has triggered a considerable rally. There are some early signs that the bulls could take a break before continuing the thrust (see volume). However, the current parabolic trend line must fall to confirm this possibility. Until then, Shiba hardly stops reaching higher levels. A reasonable goal appears at this time at $ 0.000062.

.