Shiba Inu (SHIB) Poised for a Parabolic Move: Key Insights and Price Levels

• Shiba Inu (SHIB) shows bullish trends, indicating potential for significant price rallies.
• SHIB’s resistance at $0.0000192 could spark a surge towards $0.0000200 or higher.
• Key support at $0.0000185 remains crucial for maintaining upward momentum in SHIB.

Shiba Inu (SHIB) is making notable gains in the crypto market, showing strong potential for a significant upward surge. Recent price action suggests SHIB could be on the verge of a parabolic move.

As at press time, SHIB is priced at $0.00001906 , reflecting a market capitalization of approximately $11.23 billion. It is up 1.68% for the day, with a trading volume of $324.93 million, a 5.55% increase. These metrics point to growing interest from investors.

Price Action and Key Levels

SHIB ‘s performance of late has shown price fluctuations between $0.0000185 (local low) and $0.0000192 (local high). Despite these fluctuations, the overall trend appears bullish, following a brief price dip.

Read also: Shiba Inu (SHIB) Charts Suggest Potential for Larger Upward Diagonal

Source: Coinmarketcap

Hence, this upward trajectory reflects the buyers’ commitment to pushing prices higher. The critical resistance level is the recent high of around $0.0000192. A breakout above this level could indicate increased bullish momentum, potentially attracting more investors.

On the flip side, SHIB has a solid support level at $0.0000185. This level has historically resisted selling pressure, suggesting it may act as a floor for the price. If SHIB maintains its position above this support, it could encourage further buying interest.

Short-Term Sentiment and Momentum Indicators

Current sentiment around SHIB remains bullish. Buyers have shown strength by stepping in at lower price points, leading to a gradual upward movement. If SHIB breaks through the resistance at $0.0000192 and maintains that momentum, it may rally toward $0.0000200 or even higher.

Conversely, if SHIB fails to hold the current price levels and drops below $0.0000185, it may face additional downside pressure. In such a scenario, revisiting the $0.0000180 level or lower becomes a possibility.

SHIB/USD 2-hour price chart, Source: Trading view

The 2-hour Relative Strength Index (RSI) is currently at 54.25, indicating that SHIB is neither overbought nor oversold. Also, the 2-hour MACD trading above the signal line suggests potential upward momentum in the near term.