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Tuesday, August 29, 2023

August 29, 2023 at 12:36AM Will Shiba Inu Prices Resurface Above $0.000010?

Will Shiba Inu Prices Resurface Above $0.000010?

SHIB / TetherUS BINANCE:SHIBUSDT

Shibarium network's return raises hopes for a SHIB price recovery.
SHIB prices rose by 2.24%, indicating potential bullish momentum.
A bullish triangle breakout could push SHIB to $0.0000090.
After the Shibarium network's troubles, it's now live, embraced by the market.
A 2.24% price jump forms a strong bullish candle with a long tail.
SHIB price experiences a 23% drop in four days and enters a diagonal low momentum trend.
The 4-hour chart shows a symmetrical triangle pattern with resistance from 50 EMA and trendline.
A recent jump completes a positive cycle in the triangle pattern, facing resistance.

SHIB prices in a symmetrical triangle, primed for a breakout move.
Ongoing correction might challenge the support trendline.
Potential support at $0.00000794; below, test at $0.00000750.
Positive scenario: Break above the resistance trendline could resurface price above $0.0000090.
A recovery rally might take SHIB towards $0.000010 overhead resistance.


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