Shiba Inu (SHIB) Price Prediction Today
The momentum of the world’s second largest crypto meme coin (Shib) (Shib) is good, as it has dropped significantly in recent days, thus forming a bullish price action method. Bullish trend Same corner As emotions change from negative to positive.
Is SHIB price breaking through near? The key level of viewing
Over the past few days, Shib has been found to be consolidated due to bearish sentiment and efforts to gain momentum. However, as emotions change and begin to recover, the meme coins have reached a breakout level of the rising triangle price action pattern formed over the four-hour time frame.
According to historical price patterns, meme coins have tested this level several times, and each time they experience sales pressure. But now, sentiment seems to be recovering, with the price of the coin approaching a breakout level.
If Shib successfully violates the pattern and closes the four-hour candle above $0.000017, it is very likely that it will soar 20% to $0.000020 in the near future.
Mixed emotions between businessmen and investors
Judging from the bullish outlook, businessmen and investors have shown strong interest in meme coins. Additionally, while some bet on Hib, others dump their holdings on the exchange. Small shop data.
Data from spot inflows/outflows suggest that the exchange witnessed a large inflow worth $1.65 million. This seems to be consistent with the price increase, indicating a potential sell-off or dump. This inflow of exchanges has the potential to create sales pressure and further decline.
Meanwhile, they seem optimistic as intraday traders raise their open position. Shib’s open interest has increased by 12% over the past 24 hours, indicating the formation and establishment of new positions.
Main liquidation level
At press time, the main liquidation level of traders’ over-leverage is $0.00001545 on the lower side and $0.00001695 on the upper side. Traders hold long positions worth $1.26 million and short positions worth $166,369 at these levels.
On-chain indicators support Shib’s bullish short-term setting, but traders must be careful to break through more than $0.000017 to confirm the uptrend.
