• Shiba Inu price is currently trading around a confluence of support, hinting at a 16% bounce.
  • The confluence of the 50-day and 200-day SMAs with the $0.0000270 to $0.0000288 demand zone make this uptrend compelling. 
  • A breakdown of $0.0000270 will invalidate the bullish thesis.

Shiba Inu price retests a massive support area confluence consisting of three significant elements. Therefore, investors can expect a reaction off this zone to result in a bullish move for SHIB.

Shiba Inu price eyes a higher high

Shiba Inu price retraced 18% after it exploded by 75% between February 4 and 7. The initial run-up set up a demand zone, extending from $0.0000270 to $0.0000288 before reaching its local top at $0.0000352.

As investors continue to book profits, Shiba Inu price retests this demand zone. Interestingly, the demand zone harbors the 50-day Simple Moving Average (SMA) and the 200-day SMA, coinciding at roughly $0.0000270. 

Additionally, the demand zone also contains a weekly foothold at $0.0000283, making this convergence of multiple support levels around roughly $0.0000270 a formidable barrier to breach. Therefore, a bounce off this area will see Shiba Inu price rally at least 16% to retest 100-day SMA at $0.0000333.

SHIB/USDT 4-hour chart

SHIB/USDT 4-hour chart

While things are looking pretty solid for Shiba Inu price, a potential spike in selling pressure that pushes SHIB to produce a four-hour candlestick close below $0.0000270 will create a lower low and invalidate the bullish theiss.

This move will open the path for SHIB bears to knock the altcoin down to $0.0000233, filling up the fair value gap, extending from $0.0000270 to $0.0000233. If buyers band together around this level, a comeback seems likely for Shiba Inu price.

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin and altcoins are hit by biggest crypto hack in history

Bitcoin and altcoins are hit by biggest crypto hack in history

Bitcoin holds steady above $95,000, while crypto market capitalization excluding BTC decreases to $1.18 trillion on Monday. Analysts note that institutional interest in Bitcoin is likely overestimated through inflow data since it includes nearly 56% of BTC tied to arbitrage strategies.

More Cryptocurrencies News
Bitcoin Price Forecast: BTC standoff continues

Bitcoin Price Forecast: BTC standoff continues

Bitcoin has been consolidating between $94,000 and $100,000 since early February. Amid this consolidation, investor sentiment remains indecisive, with US spot ETFs recording a $540 million net outflow last week, signaling institutional demand weakness. 

More Bitcoin News
Solana drops below $160, liquidating $26 million in leverage as negative funding rate weighs in

Solana drops below $160, liquidating $26 million in leverage as negative funding rate weighs in

Solana price extends its decline and trades around $160 on Monday after falling over 11% last week. The recent correction in SOL has triggered a wave of over $26 million in liquidations in the last 24 hours and $110 million last week.

More Solana News
Dogecoin Price Forecast: DOGE bears remain strong despite Elon Musk’s endorsement

Dogecoin Price Forecast: DOGE bears remain strong despite Elon Musk’s endorsement

Dogecoin extends its decline, trading around $0.23 on Monday after falling 8.55% last week. Coinglass’ long-to-short ratio for DOGE reads below one, indicating more traders are betting for a correction while the technical outlook projects a pullback toward the $0.20 level. 

More Dogecoin News
Bitcoin: BTC demand and liquidity conditions remain weak

Bitcoin: BTC demand and liquidity conditions remain weak

Bitcoin price has been consolidating between $94,000 and $100,000 since early February, hovering around $98,000 at the time of writing on Friday. Despite this consolidation, US Bitcoin spot ETFs data recorded a total net outflow of $489.60 million until Thursday, hinting signs of weakness among institutional investors. 

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP