-Shiba INU price is flashing bullish signals that may amplify the rally to secure levels beyond $0.00002 in the coming bullish cycle.
-The current trade setup shows the token is closer to undergoing extreme pump in the immediate short-term.
-The rally is expected to rise by more than 190% which may further flip the market sentiments of the entire crypto space.
The Shiba INU price has been flashing bullish signals that could amplify the rally to levels beyond $0.00002 in the coming bullish cycle. Recent trade setups have indicated that the token is closer to undergoing an extreme pump in the immediate short-term. The rally is expected to rise by more than 190%, which could have a drastic effect on the market sentiments of the entire crypto space.
This positive price movement follows after the token was displaying significant bullish momentum and broke out from the rising wedge pattern. Although the breakout was bearish, the price continued to trade parallel to the support levels and the crucial 200-day MA levels which acted as a strong base. After a long period of holding up the price levels, bulls were believed to get drained, paving way for a notable price drain.
However, the current trade set-up indicates that the price is due for a massive upswing and may maintain a notable rally to reclaim the lost positions above $0.00002 in the coming days. The much-awaited launch of Shibarium has also been delayed, which could have impacted the trend of the rally. But now, the Shib INU price is showing the possibility of rising by more than 190%, which could greatly improve the market sentiment of the entire crypto space.
The token is currently trading within a descending parallel channel on a daily chart, which is closer to undergoing a bullish breakout. The price is under the influence of the 200-day moving average, which is acting as a strong support. The 200-day moving average is a strong indicator of long-term market trends, which the Shiba INU price has been holding above for quite some time.
The bulls have been in control of the market for the past few weeks, as the price has been consistently above the 200-day moving average. This could be a sign that the price is ready for an upswing and could hit levels beyond $0.00002 in the near future. If the price does break out from the descending parallel channel, it could be the start of a major bull run.
In conclusion, the Shiba INU price is displaying significant bullish momentum and is closer to undergoing a massive upswing. The 200-day moving average has been a strong support for the price, and if the bulls continue to remain in control, the price could hit levels beyond $0.00002 in the near future. The much-awaited launch of Shibarium has also been delayed, but the price is still showing the possibility of rising more than 190%. If the bulls remain in control, this could flip the market sentiments of the entire crypto space.
