Dogecoin killer Shiba Inu, which rose 2000 times in 2021 and made its early investors millionaires, came to the fore again with today’s 15% movement.
Popular analyst Michael van de Poppe conveyed the price expectation and important levels for Shib with the chart he shared a while ago. Poppe shared the Shib chart as follows;
It seems that Shib, which received support from the level previously quoted by the analyst, is on the rise. According to the analyst’s share, $0.00006275 stands out as the critical resistance level.
Will the Rising Continue?
When we look at the Shib chart, we observe that the falling trend has been broken. Although this is a positive data for the continuation of the rise, the possibility of fake-out should not be ignored.
Although it seems reasonable to trade at $0.000052, where this trend will be retested, a stop should be made at the 4-hour close below $0.0000050. In this way, it may be possible to jump on the train with a low risk of loss. As long as we stay above this trend, Shib may continue to rise.
Our sequential resistances during the uptrend will be: $0.00005738, $0.00006257, $0.00006876, $0.00007644 and $0.00008669.
Experts remind that investors who cannot manage their risk and enter all-in on a single coin should stay away from such shitcoins.
*Not Investment Advice.