Shiba Inu (SHIB) Price at Crossroads: Key Levels to Watch Now

• SHIB is testing resistance at $0.00002319, with a breakout potentially pushing it toward $0.00002487. Holding support is critical.
• Fibonacci levels show SHIB facing resistance at $0.00002667 and $0.00002908, shaping its next market move.
• The TD Sequential indicator signals a possible rebound, but SHIB must stay above key support to prevent further losses.

Shiba Inu (SHIB) is approaching crucial price levels as market volatility continues. Investors are closely watching support and resistance zones that could determine its next move.

Market Performance and Key Levels

According to Ali Charts’ analysis, SHIB has remained above $0.000013, with Fibonacci retracement levels helping to identify potential price shifts. SHIB started at a higher price range before trending downward. A significant drop between June and July led to stabilization at lower support levels. 

By September, SHIB gained momentum, breaking past resistance before pulling back again. December saw a strong downtrend, with lower highs erasing earlier gains. This pattern continued into the new year, with price consolidation keeping SHIB within a tight range.

December 2024 market data demonstrates how Fibonacci levels affect price changes. SHIB broke important support levels as it dropped from $0.00003344 to below $0.00002667. Near $0.00002100, it experienced another steep drop before momentarily stabilizing.

The price is presently testing the 0.618 Fibonacci retracement level at $0.00002319, which now serves as a resistance point. SHIB may move toward the 0.5 retracement level at $0.00002487 if it breaks above this level. However, if it fails to hold current support, further declines could follow.

Technical Indicators and Future Outlook

The TD Sequential indicator recently signaled a buy opportunity on SHIB’s daily timespan, suggesting potential for a rebound. Trends in the market point to a potential increase to $0.000026 or possibly $0.000029. Resistance is also seen at the $0.00002667 (0.382 level) and $0.00002908 (0.236 level) Fibonacci retracement levels.

Ali Charts’ analysis projects that  SHIB’s next move will rely on how it responds to these crucial price levels. TradingView data continues to track its trajectory, with market conditions remaining unpredictable. Price movements will be shaped by whether SHIB can maintain its support levels. Investors are watching closely for signs of a breakout or further decline.