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SHIB breaks out massive resistance, here’s the next target

Key Support Level: $0.000023 Key Resistance Levels: $0.000030 As indicated yesterday, SHIB closed out the key resistance at $0.000023 which has now broken firmly and converted to support. Once the price moved above this key level, the volume exploded and the cryptocurrency rose to $0.000030, which is now acting as new resistance. This breakthrough ends the downward trend, which has continued since November 2021. The big question now is whether SHIB can make a higher high or go beyond $0.000032. Chart by TradingView Technical Indicators Trading Volume: Volume increased dramatically yesterday after the price broke above $0.000023. This has not been seen since the January crash. RSI: The daily RSI has made a higher high, moving from 30 points to 60 points in less than a week. This could mean that a downturn in the future is likely due to profit taking. MACD: The daily MACD is bullish and moving higher at a rapid pace. This latest price hike only confirms the bullish bias. SHIB may continue to rise based on the MACD for quite some time, and this latest move appears to be a significant reversal from the previous trend. Chart by TradingView Bias The bias on SHIB is bullish. This latest breakout confirms a trend reversal. SHIB Price Short Term Forecast While SHIB may now consolidate just below the key resistance of $0.000030, the price has broken away from the downtrend, and this is a significant change in the market. If SHIB manages to make a higher high, a sustained rally can be expected depending on general conditions. SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and get $100 Free and 10% Off Fees on Binance Futures First Month (Terms and Conditions). PrimeXBT Special Offer: Use this link to register and enter POTATO50 code to get 25% off trading fees. Disclaimer: Information on CryptoPotato is that of quoted writers. It does not represent CryptoPotato’s views on buying, selling or holding any investments. You are advised to do your own research before making any investment decisions. Use information provided at your own risk. See Disclaimer for more information. Cryptocurrency Charts by TradingView.
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