- Shiba Inu hits an entry zone that triggered a 29% rally on Sunday.
- New three-week high achieved.
- Bullish continuation is likely with some resistance along the way expected.
Shiba Inu price produced a pleasant surprise for bulls on Sunday, with a surprising – but not unexpected rally. As a result, bulls could push SHIBA above the key $0.000025 value area and look to continue that push higher.
Shiba Inu price targets a 100% rally
Shiba Inu price completed the most bullish and optimistic close in over 100 days. Bulls were able to push SHIBA as much as 25% higher, totally engulfing the entire price range of the past twenty days.
A previously identified, hypothetical buy stop entry occurred at $0.000022 and is currently trading above that level and moving higher. The projected target zone is above the $0.000050 value area but will likely face pressure soon.
SHIBA/USDT $0.000002/3-box Reversal Point and Figure Chart
The bottom of the Cloud (Senkou Span A) is the next resistance zone for Shiba Inu price – but a sell-off is not a foregone conclusion. If bulls can close SHIBA at or above the $0.000031 to $0.000032 value area, then the Chikou Span will be above the candlesticks and in open-space, a condition necessary for an Ideal Bullish Ichimoku Breakout entry.
SHIBA/USDT Daily Ichimoku Kinko Hyo Chart
Above $0.000031, the next and final resistance for Shiba Inu price on the daily Ichimoku chart is the top of the Cloud (Senkou Span B) at $0.000040. Therefore, traders should expect a significant amount of resistance at that level.
The bottom of the Ichimoku Cloud has not been tested since November 30, 2021, and the top of the Ichimoku Cloud has not been tested since November 22, 2021.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks

GENIUS Act advances in the US Senate, the first US federal framework for regulating stablecoins
The US Senate took a major step toward regulating stablecoins on Monday night by voting 66-32 to advance the GENIUS Act. The vote overcomes a Democratic-led filibuster and clears a key procedural hurdle.

SEC Commissioner Hester Peirce says most crypto assets are not securities
Crypto Task Force leader Hester Peirce highlighted in a speech on Monday how the Securities & Exchange Commission (SEC) defines various crypto assets under securities laws.

Solana set for a consensus switch with the introduction of Alpenglow
Solana (SOL) showed signs of recovery in the American trading session on Monday following the introduction of a new consensus protocol, Alpenglow, which would replace the network's current Proof-of-History and TowerBFT mechanisms.

Ethereum Price Forecast: ETH products see increased inflows, but rising shorts slow momentum
Ethereum (ETH) trades around $2,500 on Monday following mixed signals across its on-chain metrics. While strong buying pressure is visible across ETH products and whale balances, hedge funds and traders are boosting their short positions.

Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand
Bitcoin (BTC) price stabilizes at around $103,000 when writing on Friday, after facing multiple rejections at the key $105,000 resistance level throughout the week.