Shiba Inu (SHIB) Maintains a Strong Bullish Upthrust

Market Analysis – Buyers Continue to Hold a Strong Foot

Shiba Inu maintains a strong bullish upthrust. SHIB is currently maintaining a strong bullish uptrend. Buyers have been on a relentless rally for weeks, driving the price higher and hoping to breach more order levels. In January, buy traders launched a counterattack against the sellers who had been posing a threat. The crypto market initially experienced a fall at the start of the new year. This gave sellers more reason to supply at lower prices. However, this decline occurred after the price had accumulated around the critical level of $0.000016080.

Shiba Inu Market Zones

Resistance Zones: $0.000016080, $0.000011910
Support Zones: $0.00000920, $0.00000760

Since last month, the bulls have been leading a breakthrough in the Shiba Inu market. Their efforts were temporarily halted when the price approached the significant level of $0.00001190. Following a consolidation phase, the sellers took charge and pushed the price lower into the new year. However, at this recent time, the bulls have been on a strong recovery. Their resolve indicates that they might surpass the important level of $0.000010680, where the price was previously consolidated.

Market Expectation

The bears have failed to accomplish their mission, and the buyers are posing a stronger presence in the market. The bullish momentum is currently on the rise, and a breach beyond the significant level of $0.000016080 is plausible. The Stochastic Oscillator is in motion, reflecting the increasing buying pressure as buyers continue to pick up the pace.

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