Shiba Inu Price Prediction: SHIB Could Explode Another 30% to $0.000012 on Breaking Crucial Barrier
- Shiba Inu takes down key hurdles as bulls nurture the uptrend from $0.000006 support.
- The 200 SMA blockade on the four-hour chart must come down for gains aiming for $0.000012.
- Short-term technical indicators align in support of the bulls’ recovery bid.
Shiba Inu price has sustained a substantial recovery in the wake of the support at $0.000006. The token initially stalled at this buyer congestion zone before bulls stamped their feet on the ground. Note that a sharp upswing on Tuesday pushed several hurdles out of the way.
SHIB brushed shoulders with the key barrier at $0.00001 as the bullish momentum lost steam. The 200 Simple Moving Average (SMA) also contributed to the overhead pressure at this level.
Meanwhile, Shiba Inu price is doddering at $0.000008 at the time of writing. The overall marker picture seems stable, allowing bulls to focus on pulling the meme coin higher, perhaps brushing shoulders with $0.000012.
Will the short-term technical outlook support the bulls’ bid to $0.000012?
The Moving Average Convergence Divergence (MACD) has a bullish outlook based on the four-hour chart. This technical tool follows the trend of the asset while measuring its moment. The MACD is used to foresee the general trend direction. At the same time, traders use it to find positions to buy the dip or sell the top.
Therefore, with the MACD settled above the zero line, the trend is mainly in the bulls’ hands. Moreover, buyers have the upper hand according to the MACD line’s divergence above the signal line. Sustaining this technical outlook may bolster Shiba Inu price to the target at $0.000012.
SHIB/USD four-hour chart
The SuperTrend indicator on the four-hour chart has a vivid buy signal. As the moving averages, this technical tool is a chart overlay. In addition to pointing out the trend’s direction, the SuperTrend considers the asset’s volatility. Depending on the volatility, either a buy or a sell signal comes into the picture.
SHIB/USD four-hour chart
When the SuperTrend closes the day below the price and changes the color from red to green, it is a call to buy. On the other hand, closing the day above the asset’s price is a call to sell. Hence, Shiba Inu price may rally above $0.00001 and close the gap to $0.00012 as bulls heed the call to increase their entries.
Looking at the other side of the fence
On the downside, Shiba Inu price is protected by the 50 SMA on the four-hour chart. Holding above this level is key to sustaining the uptrend. Otherwise, if broken, declines may revisit areas toward the primary support at $0.000006.