Shiba Inu price sets the stage for a long-term play

Shiba Inu price has breached a critical support confluence, indicating a shift in momentum from bulls to bears. This development comes after undoing the mid-August gains and could set the trend until SHIB finds a stable support level to bounce off of. 

Shiba Inu price and its launch pad

Shiba Inu price plunged below a critical support confluence at $0.0000118 after four weeks of grappling with it. This development might look like a bearish move, but if this trend continues, it will set SHIB up for a long-term play.

For now, Shiba Inu price can drop 20% before encountering the imbalance, aka the fair value gap (FVG), extending from $0.0000092 to $0.0000083. A retest of this area will be an ideal place for buyers to step in and trigger a trend reversal.

The chart below shows that the market makers could target the liquidity resting above the equal highs at $0.0000179 for a long-term play, indicating the total potential gain for investors is roughly 95%. 

SHIB/USDT 4-hour chart

There are two ways this setup could ruin; the first one is by a premature rally in Shiba Inu price and the second one involves SHIB flipping the $0.0000087 support level into a resistance barrier.

While the former scenario does provide an opportunity to squeeze gains, the second outlook would invalidate the bullish outlook for SHIB. 

Note:

This video explains the short-term and long-term outlook for Shiba Inu and how you can position yourself accordingly.