Here’s What’s Next for Shiba Inu (SHIB) Price Rally as it Losses a Crucial Price Range

Shiba Inu (SHIB) Price Analysis: Can Bulls Break Resistance Amidst Bearish Indicators?

Despite the recent surge in the cryptocurrency market, Dogecoin and Shiba Inu have remained largely stagnant. However, as Bitcoin rallies above $100,000, these memecoins are showing signs of recovery.

Technical Analysis:

• SHIB has broken above a critical resistance level at $0.000027, indicating potential for short-term upward momentum.
• However, bearish indicators, such as a potential Ichimoku cloud and DMI crossover, suggest that selling pressure is mounting.
• The ADX, RSI, and OBV are also declining, further supporting the bearish outlook.

Future Targets and Sentiment:

• Bullish targets for SHIB remain above $0.000045, but the token must hold above $0.000035 for validation.
• A sharp drop in SHIB's price due to a Bitcoin correction could indicate increased investor interest and potential sentiment shift to bullish.
• If the market correction intensifies, SHIB may fall below $0.000025; a rebound is more likely, aiming for a year-end close above $0.000035.