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Shiba Inu

<ul> 
 <li>SHIB experienced rejection at a resistance trend line on December 17, causing a sharp price decline.</li> 
 <li>Despite this setback, SHIB has stabilized above a key horizontal level, prompting speculation about a potential year-end rally.</li> 
 <li>The RSI signals a bullish trend on the weekly chart, yet short-term indications suggest a probable temporary decline before a potential breakout.</li> 
</ul> 
Shiba Inu (SHIB) has been on a rollercoaster of fluctuations, prompting investors to keenly observe its trajectory. On December 17, a critical resistance trend line dealt a blow to SHIB’s price, resulting in a swift and notable decline.&nbsp; 
However, the resilient nature of SHIB quickly came into play as it found stability above a pivotal horizontal level. This sudden stabilization has sparked speculation and discussions within the crypto community about the potential for SHIB to stage a remarkable rally before the year draws to a close. 
The weekly chart’s Relative Strength Index (RSI) steadfastly indicates a bullish trend. The upward trajectory portrayed by the <a href="https://www.tradingview.com/symbols/SHIBUSDT/technicals/?exchange=BINANCE">RSI</a> on the weekly chart has instilled confidence among bullish proponents, suggesting a promising outlook for SHIB’s future. 
Yet, despite this optimistic long-term projection, shorter-term signals have hinted at a possible temporary decline. The daily chart’s price action within an ascending parallel channel since June presents a compelling case for a momentary setback.&nbsp; 
This short-term bearish prediction, fueled by recent price action and RSI indications, suggests a potential mild downturn before the possible initiation of a breakout. Should SHIB follow this anticipated path, a plausible scenario points to a marginal decrease of approximately 12%, targeting the nearest support level at $0.0000095. 
However, amidst these nuanced market dynamics, an alternate narrative emerges. A prospective breakout from the channel would signify the completion of the correction phase, potentially ushering in an impressive 40% surge toward the next resistance level at $0.0000150. 
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The post <a href="https://cryptonewsland.com/shiba-inu-price-swings-will-it-jump-40-by-year-end/">Shiba Inu Price Swings: Will It Jump 40% by Year-End?</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

Shiba Inu Price Swings: Will It Jump 40% by Year-End?

Crypto News Land

Ďalšie články zverejnené 22. 12. 2023

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