Key Insights:
- SHIB price forms a falling wedge, targeting $0.00002000 on confirmed breakout.
- $0.00001730 resistance must break for SHIB to target $0.00002800 next.
- SHIB’s 100x potential gains depend on clearing major resistance levels.
Shiba Inu coin price is gaining bullish momentum, with multiple technical indicators suggesting a potential breakout. Recent market action, key price levels, and liquidity levels suggest the price could jump up if it moves past some important zones.
With more people interested in buying the coin and a steady increase in trading volume, it seems more likely that the coin could reach $0.00002800 in the future.
Falling Wedge Pattern Signals Shiba Inu Coin Price Breakout
According to SHIB Knight, Shiba Inu price is moving within a falling wedge pattern, which is often a sign that the downward trend is about to end and the market might start to go up again.
This pattern points to the possibility that SHIB price might go up to $0.00002000 if it can break above that trendline. Falling wedges usually happen before a big price jump, as sellers stop selling, buyers come back in, and the market starts moving up again.
The wedge pattern indicates that Shiba Inu coin price has been consolidating within a tightening range. A breakout from this pattern could cause the price to quickly rise, as traders look to join in on the possible start of an uptrend.
If SHIB price breaks through this first level of resistance, it might make it easier for the price to keep going up and reach even higher prices, such as $0.00002800.
Key Resistance Levels for Shiba Inu Coin Price Upside
Crypto analyst CW further noted that for Shiba Inu coin to keep going up, it needs to break through key resistance levels, starting with $0.00001730.
This level is an important sell point where a lot of market orders are waiting to be filled, which could stop or even turn back any upward price movement. Clearing this barrier is important for the SHIB price to keep going up and aim for its next target of $0.00002800.
Breaking this price barrier could really shake up the market, with lots of investors being forced to sell if the price keeps dropping.
This kind of breakout could lead to the price going up quickly, since short sellers have to buy shares to close their positions, causing even more people to buy.
Additionally, the $0.00002800 level is an important point for traders and shows that SHIB has been rejected a lot of times around this price.
Clearing this area would support the idea that the trend is changing for the better and could make way for the price to even improve.
Shiba Inu Coin Price Prediction Targets 100x Gains
Adding to the bullish sentiment is that the SHIB Possessor says the Shiba Inu coin could go up 100 times if things keep going the way they are. While this target is not guaranteed, a lot of retail traders believe Shiba Inu coin could be a good way to make quick profits, as they see it as a possible high-growth meme coin.
Notably, the chart posted by SHIB Possessor showed a clear rise, which means that SHIB price could reach another key level if this trend keeps going.
This positive forecast means it’s important to keep supporting the current levels, since if it breaks above $0.00001718 for long enough, the price could go up to $0.000018.
Shiba Inu Coin Price Faces Key Liquidity Zones
CoinGlass data adds another critical layer to this Shiba Inu coin price prediction. The recent heatmap for SHIB showed that a lot of liquidity is currently held in the price range of $0.00001700 and $0.00002000.
These price levels may pull in both long-term and short-term traders, as they try to take advantage of key areas where prices could see interesting price action.
The heatmap shows more liquidity in these areas, which means if the meme coin price breaks out, it could quickly move up to the $0.00002000 level. Beyond this level, having a few investors selling suddenly makes it much more likely the price could go higher.