Shiba Inu Crypto Examination: SHIB Surpassing ETH
Navigating through the dismal performance of
over recent months, it’s clear that ETH and its affiliated coins are trailing behind the market.
In contrast, SHIB, one of the leading meme coins in the crypto asset space, has managed to slightly outshine ETH in the monthly performance chart, even though it operates on the Ethereum distributed record and its ecosystem.
Let’s explore the critical price levels of the Shiba Inu chart, including its base level and price ceiling, along with price forecasts.
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Shiba [SHIB]: Is a Price breakout on the Horizon or More Consolidation Ahead?
Let’s delve into some of Shiba’s price movements!
Analysts have varied perspectives on the SHIB chart. Some exhibit bullish sentiments for the long term, while others are betting on a short-term rebound after what seems to be a double bottom formation. A double bottom generally appears following a pessimistic, suggesting that the asset may reverse and begin an upward trend.
When inspecting the monthly timeframe of Shiba Inu, it’s currently consolidating within the $0.00001150–$0.00001250 range, recognized as a historically significant support zone for
. As it stabilizes around $0.00001198, this support range becomes pivotal for both short-term traders and long-term stakeholders.
For a confirmed bullish move, SHIB needs to surpass $0.00001250. Clearing this price ceiling could indicate the start of a new upward trend.
Currently, with the (RSI) for SHIB positioned at 51.96, reflecting a neutral trading market sentiment, SHIB finds itself in a balanced state. This implies that SHIB is likely to remain within its current consolidation unless new factors emerge.
Traders should observe crucial levels: the $0.00001050 support (double-bottom), the $0.00001150–$0.00001250 support zone, along with the resistance at $0.00001250.
Should SHIB breach the resistance level, breakouts are often accompanied by volume surges. A considerable increase in volume might indicate robust buying interest necessary to affirm the price breakout, whereas a breakout with low volume generally signals a lack of conviction in the price movement.
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Now, let’s concentrate on short-term price dynamics.
A glance at the weekly chart shows a decline in trading activity according to the volume bar. The price has consistently tested the range of $0.0000120–$0.0000125 but has struggled to break through.
Embracing a Pessimistic Outlook Despite minor uptrend movements, the chart reflects insufficient significant price changes and the tests of price ceiling indicate a bearish trend in the near term.
Conclusion: Optimistic or Bearish, Short or Long?
Taking into account observations from the weekly and monthly charts, it’s advisable to adopt a strategy of patience and observation!
Wait for a definitive break and hodl above the barrier level at the $0.0000125 level to initiate a long position, or monitor for a sell-off below the $0.00001150 price floor for short positions.
$SHIB pattern is tightening, indicating a potential price breakout on the weekly chart.
I’m anticipating an increase from this point unless BTC disrupts it. pic.twitter.com/bqR5Pw9BQL
— $SHIB KNIGHT (@army_shiba) April 16, 2025
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Key Takeaways
- The Monthly chart appears promising while the weekly chart hints at additional consolidation.
- Shiba’s price movements display long-term potential but seem uneventful in the short term.
The post Shiba Inu Crypto Analysis: SHIB Outperforming Ethereum first appeared on 99Bitcoins.
