• Shiba Inu (SHIB) has recently reached the support line of a long-term pattern, and its future trend will be determined by whether it bounces from or breaks down from this line.
• Tradecurve (TCRV) is a pioneering hybrid exchange platform that provides users with convenient access to stocks, cryptocurrencies, commodities, and forex.
• If SHIB price breaks out of the descending channel, it might reach an average target of $0.0000130; whereas if it breaks down below the support line of the triangle pattern, it could drop toward the nearest support area at $0.0000057.
Shiba Inu (SHIB) Price Analysis
The Shiba Inu (SHIB) token price has dropped by 0.12% in the last 24 hours and is currently trading 2.91% below its 7-day all-time high price of $0.00000892 and 2.12% over its 7-day all-time low of $0.00000848. With the RSI currently at 45 and declining, conflicting interpretations arise; yet, SHIB also entered oversold territory, which often precedes substantial upward movements. A breakout from the descending channel is expected to trigger an upward movement toward the resistance line of a long-term triangle pattern with an average target of $0.0000130; on the other hand, a bounce at this support level would propel SHIB toward its resistance line instead.
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Will Support Hold or Break?
It remains unclear whether Shiba Inu’s (SHIB) support line will hold or break in favor of a bullish trend; however if SHIB price breaks down below its current support level it could invalidate its year-long structure signaling a bearish trend with potential drops towards $0.0000057.
Shiba Inu (SHIB) may have initially gained attention due to its meme status but has since been replaced by projects that offer more than just hype such as Tradecurve’s innovative platform that comes with promising returns of 50x during presale only! Whether SHIB will break down or bounce off from its current Support Line remains uncertain but investors should keep an eye out for any updates regarding this coin’s future trend before making any decisions about investing in it or not..