Shiba Inu (SHIBUSD) Continues to Trend Bullish
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Price Analysis: SHIBUSD Triggers the 4-hour Bullish Order Block as it Moves Toward the 4-hour Liquidity Zone
SHIBUSD has transitioned from a prolonged bearish trend to a bullish outlook, marking a significant structural shift. In early March 2024, the price surged past the $0.00003810 level, signaling strong bullish momentum. However, this rally was short-lived, as the price reversed and entered a bearish phase that lasted until late November 2024.
Shiba Inu Key Levels
Demand Levels: $0.00002150, $0.00001520
Supply Levels: $0.00002980, $0.00003810
In November, the price broke above the bearish trendline resistance, initiating a renewed uptrend. The bullish momentum strengthened as SHIBUSD surpassed the $0.00002980 level. This breach marked a bullish break of structure, followed by a retracement that found support within a 4-hour order block.
The retracement to the 4-hour order block has confirmed it as a support level, paving the way for a minor bullish trend. Both the daily and 4-hour moving averages (MA) indicate bullish sentiment. Although the price briefly fell below the daily MA, recent movements show the price trading above it again, reinforcing the bullish perspective.
On the 4-hour chart, the MA also supports the current uptrend, aligning with price action to suggest further upward movements.
Market Expectation
The bullish reaction from the 4-hour order block is likely to persist, potentially transitioning into a broader bullish trend visible on the daily timeframe. SHIBUSD is expected to target liquidity above $0.00003810. A successful breach of this level could set the stage for further price appreciation.
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