These days when Bitcoin dominates the market, altcoin investors are waiting for their turn. However, some altcoins continue to make their own moves, challenging the market. Chief among these is Shipa Uni (SHIB).
In our news dated September 22, we mentioned that interest in Shiba has increased and many new investors have taken positions in Ship. With the end of the consolidation we mentioned at that time and the breaking of the specified resistance zone, we saw an increase of nearly 250%.
Shib, which retreated by 40% after this rise, took the stage again today. Shib, which is trading at a daily premium of 13%, is currently trading at 0.00002951.
When we look technically, we see that a bull flag formation is formed. According to this formation, in daily closes above $0.00002786, the target will be $0.00004758. In case the formation works, we can see another 70% increase. Our short-term resistance levels appear to be $0.00003020, $0.00003311 and $0.00003540. 2786 region can be followed as support. This level can be evaluated with six closing stops. First of all, we will monitor whether a daily close can be made above $0.000002786.
At this point, it is useful to remind that technical indicators are very inflated. Investors who cannot manage their risk are advised to stay away from such elevated coins.
*Not Investment Advice.