With the roller-coaster ride going on within the crypto space, Shiba Inu is also getting triggered to raise above the odds. It had gained a similar boosts in during the first week of February and now may get yet another one to come out of the danger zone.The asset is showcasing another possibility of spiking more than 10% in the upcoming days if the bears stay away for some time.
The SHIB price since the past coupleof days, has accumulated enough strength and able to clear certain crucial levels. The asset has sliced through the 200-day & 50-day MA in a very short span of time and heading strongly to hit the upper resistance levels in a short while from now. Once these levels are cleared, then the SHIB price may however, consolidate for a while and eventually decide on the next plan of action, anticipated to be pretty bullish.
The SHIB price in the short-term has varied a little and hence has formed a notable double bottom pattern. Moreover the asset has also tested the neckline successfully, but not able to undergo a serious uptrend. But at the same time, the asset was able to breakthrough the descending but at the same time, the asset slice through the descending trend and ranged high.
However a small possibility of a retest is seen and hence before pulling the next leg up beyond the upper resistance, Shiba INU(SHIB) price may hit the resistance of the channel and rest for some time. This is when the memecoin may gain the trust of the investors who may uplift the price towards beyond $0.0000400 and later above $0.00005000 very soon.
Source: https://coinpedia.org/price-analysis/a-significant-bullish-scenario-pops-out-of-shiba-inushib-price-will-it-hit-0-00004-in-this-week/