SHIBA INU (SHIB) appears to be forming a potential macro bullish reversal off key long-term support near 0.00001114, confirmed by a confluence with the 0.146 Fibonacci retracement level. The recent price action shows buyers stepping in at structurally significant levels after an extended drawdown, setting the stage for a measured leg higher.
🔍 Technical Highlights:
Fibonacci Levels: Price currently hovers around the 0.146 retracement zone, with key resistance targets at:
0.00002393 (0.5 Fib)
0.00003209 (0.886 Fib / previous major swing high)
0.00004523 (1.618 extension)
Volume & Structure: Historical consolidation zones from mid-2023 to early 2024 suggest strong accumulation interest, which aligns with the current bounce zone.
Price Path Forecast: A Fibonacci-based stair-step rally could see SHIB revisiting:
First target: 0.00002393 (potential minor pullback expected here)
Second target: 0.00003209 (major confluence, key resistance)
Final target zone: 0.00004523–0.00005000 (long-term breakout zone if trend continuation holds)
🧠 Probability Outlook:
Bullish Bias: 65% – Supported by structure, Fib alignment, and potential recovery wave
Bearish Breakdown: 25% – Below 0.00001114 invalidates bullish setup
Sideways Chop: 10% – Low volatility scenario before breakout
📌 Risk Management Note:
Traders should watch for weekly candle closes above 0.00001850 and volume confirmation to validate the move. Stops below 0.00001114 suggested for bullish entries.
💬 Do you believe SHIB has the potential for a macro reversal? Drop your thoughts in the comments.
#SHIB #Crypto #Altcoins #SHIBUSD #Fibonacci #TechnicalAnalysis #CryptoTrading #WaveTheory
🔍 Technical Highlights:
Fibonacci Levels: Price currently hovers around the 0.146 retracement zone, with key resistance targets at:
0.00002393 (0.5 Fib)
0.00003209 (0.886 Fib / previous major swing high)
0.00004523 (1.618 extension)
Volume & Structure: Historical consolidation zones from mid-2023 to early 2024 suggest strong accumulation interest, which aligns with the current bounce zone.
Price Path Forecast: A Fibonacci-based stair-step rally could see SHIB revisiting:
First target: 0.00002393 (potential minor pullback expected here)
Second target: 0.00003209 (major confluence, key resistance)
Final target zone: 0.00004523–0.00005000 (long-term breakout zone if trend continuation holds)
🧠 Probability Outlook:
Bullish Bias: 65% – Supported by structure, Fib alignment, and potential recovery wave
Bearish Breakdown: 25% – Below 0.00001114 invalidates bullish setup
Sideways Chop: 10% – Low volatility scenario before breakout
📌 Risk Management Note:
Traders should watch for weekly candle closes above 0.00001850 and volume confirmation to validate the move. Stops below 0.00001114 suggested for bullish entries.
💬 Do you believe SHIB has the potential for a macro reversal? Drop your thoughts in the comments.
#SHIB #Crypto #Altcoins #SHIBUSD #Fibonacci #TechnicalAnalysis #CryptoTrading #WaveTheory
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.