SHIBA INU (SHIBUSD) Experiences a Bullish Reversal
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Price Analysis: Shiba Inu Signals a Shift as Buyers Gain Momentum Following Bearish Trend Break
Shiba Inu (SHIB) is showing early signs of a bullish reversal as selling pressure begins to subside, paving the way for buyers to regain control. The recent price action highlights a crucial shift in market sentiment following a sustained period of distribution and decline.
SHIBA INU Key Levels
Demand Levels: $0.00001370, $0.00000940
Supply Levels: $0.00001780, $0.00002440
After breaching the $0.00002440 level and flipping it into support, SHIBA INU entered a corrective phase, characterized by a series of lower lows. However, in the second phase of this decline, price action dipped slightly below the previous low before encountering significant bullish momentum. This surge led to a decisive breach of the bearish trendline, suggesting a potential trend reversal.
Further supporting this bullish outlook, the daily Relative Strength Index (RSI) is showing increasing momentum, signaling strengthening buying interest. On the 4-hour timeframe, however, short-term bearish pressure remains evident, as the RSI indicates a slight decline in momentum. Despite this, SHIBA INU appears poised to fill the Fair Value Gap (FVG) and retest the trendline before resuming its upward trend.
Market Expectation
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