SHIB Price Holds Strong—Is a 32% Breakout to $0.00002040 on the Horizon?

Shiba Inu (SHIB) is drawing renewed interest as the token holds above a crucial technical level. Trading near $0.00001551, SHIB is maintaining support just above the middle Bollinger Band, currently at $0.00001486. This mid-point often serves as a stabilizing line in the market and offers early signals of trend direction.

The market has seen SHIB post a modest 3.4 percent gain over the past week, underscoring its resilience. This move suggests that people are consistently buying and interested in the asset. As soon as the price is over the middle Bollinger Band, we can expect the upward pressure to continue.

The traders are still watching the upper Bollinger Band at $0.00002040, where SHIB has stumbled before. If the pressure builds and SHIB takes on resistance again, the token could increase by 32 percent. History shows that it is a key area where prices try to break out.

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Price Compression Signals Possible Volatility Ahead

According to TradingView, the Bollinger Bands on SHIB are beginning to narrow, often a precursor to heightened volatility. This price compression and steady support levels create conditions for a potential breakout. Analysts view this setup as a waiting game, where the next move could come swiftly and decisively.

To confirm a bullish shift, SHIB must close above $0.00001698, a local resistance point. If the price breaks above this point, it might reach new resistance around $0.00002052 and $0.00002501. Previously, targets in this range kept many attacks from progressing, and the volumes needed to crack them were very high.

Should the market drop, SHIB’s nearest buffer is at the Bollinger Band’s middle line. Further support can be found at $0.00001107, a level that’s played a significant role in the past. Those watching the market still use price movement and buyer behavior to judge SHIB’s next steps.

Meanwhile, the token sits impatiently but waiting. From a technical point of view, there has been little change, yet the situation is getting pressurized.

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