Shiba Inu price is holding inside a long-tested range, trading near $0.00001238 with a key support at $0.00001159; a break below that level could signal a deeper reset, while a successful rebound may resume the pattern that previously targeted $0.00001698–$0.00002052.
Key support: $0.00001159 — repeatedly defended since 2023
Current structure: rounded consolidation with tight clustering before breakouts
Historical targets: $0.00001698 and $0.00002052; resistance bands extend to $0.00002970
Shiba Inu price outlook: monitor $0.00001159 support; act on confirmed breakout or breakdown — full analysis and trading cues from COINOTAG.
What is the Shiba Inu price outlook?
Shiba Inu price is consolidating in a familiar range near $0.00001238 with a critical floor at $0.00001159. This repeated base formation suggests the next decisive move—either a rebound toward prior resistance bands or a breakdown into lower price territory—will define SHIB’s near-term trend.
How does the $0.00001159 support affect SHIB’s next move?
The $0.00001159 level has acted as a structural pivot across multiple cycles. If that support holds, SHIB typically grinds higher through mid-range ceilings, historically targeting $0.00001698 and $0.00002052. A confirmed break below would invalidate the range-based rally case and open the potential for a deeper reset, unseen since early 2023.
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Rounded consolidations show periods where price action compresses into tight clusters, signaling equilibrium between buyers and sellers. These formations often precede expansion in volatility, so the current rounded pattern around $0.00001238 raises the probability of a strong directional move once volume confirms a breakout or breakdown.
Traders should view the $0.00001698 and $0.00002052 zones as initial upside objectives if the range breaks upward. The longer-term cap near $0.00002970 remains a secondary target that historically required sustained momentum and broader market strength to reach. Risk management should prioritize stops beneath structural supports.
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Source: https://en.coinotag.com/shiba-inu-shib-could-see-volatility-after-prolonged-consolidation-around-0-00001159-support/