Briefly –
- Shiba Inu (SHIB) trades sideways in the $0.00002925 – $0.00003785 range.
- SHIB’s RSI remains nearly flat, indicating balanced sellers and buyers’ equilibrium.
- Expect volatility to surge after catalysts trigger a bullish breakout.
Shiba Inu (SHIB) price trades stuck within sideways actions as the meme coin seeks direction with neither sellers nor bulls showing determined moves.
As equity markets hint at further gains, the crypto space might enjoy spillovers, triggering bullish breakouts. That would see SHIB rising to the top line that cabs current upward pressure. With such a breakout, bulls can target the levels near the 61.8% FIB zone at $0.00004490.
SHIB Awaits Equities Tailwind, Eyeing 35% Rally
Shiba Inu saw its prices moving sideways since the past week as market players remained puzzled identifying the way forward. More risks lie on the much-anticipated decisions by leading central banks this week and pending uncertainties as far as the new COVID strain is concerned.
European equities opened the week in the green amid lucrative actions on Monday. Moreover, the US indices recited in green the following hours. That might be the sentiment investors have waited to trigger later Christmas upside rally.
Shiba Inu price might see bulls trying to overcome the red sinking top-line from 1 December. Also, the price respected this level recently, translating to multiple downside rejections. A breakthrough would attract sidelined investors. With such a case and buying volume surging significantly, the resulting rally will touch a 61.8% FIB level of $0.00004490.
Investors may find it challenging to drive Shiba Inu’s price high at that level as liquidity fades year-end. If central banks maintain their loose fiscal policy, it will boost confidence, sparking another surge to the 50% FIB level of $0.00005690.
However, hawkish statements by the leading banks might result in price deflation as market players shed their positions, catalyzing a crash to the monthly S2 foothold at $0.00001260, confirming a potential 60% plunge.
Meanwhile, a leading crypto trading platform in Span has listed Shiba Inu. Bit2Me declared that it supports SHIB due to its remarkable performance this year. However, it comes after the exchange added Dogecoin some seven months ago. Such developments can mean an upside price catalyst for the meme coin.
