Key Insights
- Shiba Inu price targets $0.000081 with over 450% upside if resistance zones flip to support.
- A descending channel mid-level reclaim could indicate that the price is about to break above the upper trendline.
- Long trades are leading despite derivative volumes being low.
Shiba Inu price is gaining interest again as it heads toward a major level in a broader decline. Analysts are closely monitoring this market for any signs of a bullish change. Some analysts have predicted that prices could head towards $0.000081 and $0.0001553 if momentum grows, meaning a possible 450% gain.
Shiba Inu Price Prediction: $0.000081 Target in Sight
According to analyst Javon Marks, SHIB price may be setting up for a sharp breakout, with the first target set at $0.000081. Interestingly, there is a chance to gain up to 450% from the current market prices. A similar pattern shows where price lies, filled by the growing number of dips and higher lows coming one after another.
The chart highlighted a repeated price behavior where SHIB price builds a base before rallying. If it successfully breaks through the resistance, it may surge rapidly toward the targeted region. Should Shiba Inu price exceed $0.000081, a further target of $0.0001553 comes into focus, aligning with the previous macro high zone.
Consequently, the pattern shows periods of altcoin recovery, delays, sudden breakouts, and strong upward surges. While the setup for such a move looks promising, more short-term signs are required.
Shiba Inu Descending Channel Could Flip to Bullish
On the lower time frame, Alpha Crypto Signal noted that SHIB price traded inside a descending channel and was consolidating just below the mid-level zone. SHIB has been unable to push through this area and is trying to shift it to support instead.
However, successful reclaim could lead SHIB price to reach the top of the descending channel. A rise through this channel would signal that bulls are still in control and ready to test major resistance near $0.000040. Additionally, smaller green candles are now showing a rise in volume, which suggests buyers are being prudent about entering.
Meanwhile, Shiba Inu price seems to be attempting to hold above the 50-period SMA, which is a typical signal for beginning a swing trade. As a result of this reclaim, short-term traders are watching for further movement out of the current range.
Derivatives Sentiment and Funding Rate Remain Mixed
According to Coinglass data, traders are still feeling cautious, despite the positive trend on charts. The funding rate for SHIB price has been neutral to slightly positive, even staying just above zero percent lately. Both long traders and short traders are represented in roughly equal numbers.
Open interest was still at $884.87 million, suggesting a minimal 3.06% decrease and continuing trader participation. However, the total volume of options trading has decreased by 92.94%, which indicates fewer investors are using them for speculation. During 24-hour liquidations, the market registered losses of $1.55 million, wiping out $1.50 million from longs and just $40,000 from shorts.
Binance and OKX still show bullish long/short ratios at 2:1 in most accounts and positions. It means larger accounts are still supporting Shiba Inu by holding it, hoping that SHIB trend will eventually turn upward. Despite this, a 54.26% decrease in volume, to $877.57 million, makes the near-term trend limited.
SHIB Outlook Holds Potential With Breakout on Horizon
Technical indicators, chart structures, and long-term goals suggest that Shiba Inu price may rally soon. If SHIB price manages to break ahead of the upper downtrend and recapture a middle resistance point, a move toward $0.000081 may follow.
As more analysts set bullish goals, things are still looking good so long as market circumstances help the trend. Since the price has been holding above major support zones and dropping the level of volatility, analysts believe an increased move may happen.
Currently, Shiba Inu price is shaping up for a decisive technical moment. If the daily candle closes above the trendline, the next Ethereum price resistance levels are $22.00 and $30.00.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only. And they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
The post Shiba Inu Price Eyes 450% Rally to $0.000081 and Beyond: Can SHIB Break the Downtrend? appeared first on The Market Periodical.
