Shiba INU is poised to reach the next target above $0.000016 after breaking the $0.000014 level. But the bears gained just under $0.000015 and cut the price by almost 11%. However, SHIB prices have started to recover, but the current rejection heralds more to come.
SHIB price is expected to break out this morning after a brief consolidation, but the passive trend is now suggesting that a drop to the $0.000012 area may soon be possible. However, the price fluctuated within the 200-day and 50-day moving averages, which are considered safe areas to accumulate gains.
SHIB price keeps increasing from the beginning to A month with a lower trendline as support. Despite the major rejection, the asset has held above these levels, indicating the potential for a move higher in the coming days.
The asset may not rise as much as it did the day before due to plummeting trading volumes. Therefore, Shiba INU (SHIB) price may continue to consolidate upwards until it receives the buying pressure needed to reach its future target.