Shiba Inu price hints at a 150% upswing, an opportunity too good to pass up
- Shiba Inu price shows a tiring consolidation around the POC at $0.0000118.
- A breakdown of this level to fill the price in efficiency present at $0.0000083 seems plausible in the near future.
- If SHIB produces a daily candlestick close below the $0.0000074 support level, it will invalidate the bullish thesis.
Shiba Inu price has been hovering around a significant barrier for roughly three months with virtually no momentum to move above it. This development might be primed for a strong move but the directional bias remains unknown.
Shiba Inu price continues to consolidate
The price of Shiba Inu has been consolidating around the volume point of control (POC) at $0.0000118 for nearly three months. This barrier is the highest traded level since April 12, 2022 and therefore acts as a support or resistance level for where the price is trading.
The Shiba Inu price is up 68% in three days after making a low of $0.0000071 on June 18th. This move up left a large inefficiency or low from $0.0000083 to $0.0000092, known as real value. gap (FVG).
These gaps are often filled when a big rally retraces to the mean. This is unprecedented for SHIB and therefore presents a strong opportunity for investors. Investors can wait for the Shiba Inu price to fill the FVG and open a long position there.
The targets for this trade would be the POC at $0.0000118, followed by $0.0000199 and $0.0000211. Overall, this move can represent a 150% increase.
While things are looking up for Shiba Inu price, a premature rally above the POC will suggest that this move is temporary and could reverse. However, if SHIB produces a daily candlestick close below $0.0000074, it will create a lower low and present the risk of a further crash.