Based on The Crypto Basic, Shiba Inu (SHIB) has rebounded from a weekly downtrend and is now approaching key Fibonacci resistance levels. The price has stabilized near $0.00000857 after a volatile week, with a local high of $0.00000892 recorded in late November. SHIB is currently consolidating within a tight range, with bulls attempting to defend the support zone. On the weekly chart, the token remains below the 1.0 Fibonacci extension level, with the next key resistance at $0.0000113 (0.786 retracement) and $0.0000124 (0.618 retracement). If buyers fail to push above the 1.0 Fibonacci level, the price could drop further toward $0.0000064 (1.618 extension). Liquidation data shows that most recent losses have come from over-leveraged long positions, with minimal short liquidations. This suggests a potential sideways or mildly bullish movement in the near term.
Shiba Inu Price Analysis: Testing Key Fibonacci Levels After Weekly Rebound
TheCryptoBasicShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.