Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
After some ups and downs, the next key support level for SHIB is thought to be between $0.000025 and $0.000024. This is where we expect SHIB could land, finding a steady spot that matches where the price grew before. If it reaches this range and holds steady, we might see SHIB start to recover and climb back up.
Looking at the SHIB chart, this price range is significant. It is where SHIB previously jumped in value, which means it could be a strong area that supports the price from falling further. Areas like that one tend to see an accumulation of buy orders.
If the price of SHIB does fall to this level and does not drop below it, it could be a good sign. It means that the price is likely to bounce back, as this level has acted like a trampoline for the price in the past, pushing it upward.
For those watching SHIB's future, staying above $0.000024 is key. If the price can stay above this range, it is more likely to see a proper recovery. Another key level is $0.000022, which coincides with the 50 EMA. However, if the price falls below these support levels, traders might need to look for the next support at a lower point, approximately around psychological thresholds like $0.00002.
For this to happen, it needs to not just reach the support level but also attract enough buyers to push the price back up. The overall sentiment on the cryptocurrency market will be a crucial factor in SHIB's recovery.
SHIB has a specific price range to watch right now. If it can stay above $0.000024, the chances are better for the price to start going up again. A drop below $0.000024 will most likely open a way to $0.00002.
Alex Dovbnya
Valeria Blokhina
