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Shiba Inu Price Prediction: Targets $0.00001230 After Bearish Consolidation
- Shiba Inu is currently trading at $0.00001181 with a bearish bias and subdued market activity.
- Technical indicators like RSI (40.34) and MACD remain negative, signaling weak momentum and caution from buyers.
- Bollinger Bands are narrowing, pointing to reduced volatility and the possibility of a breakout in either direction.
- Key levels to watch are $0.00001150 as support and $0.00001230 as resistance, with the trend favoring the downside unless buying volume increases.
- Shiba Inu (SHIB) is trading at $0.00001181 with a 24-hour volume of $153.57 million and a market capitalization of $6.96 billion.
- The market is in a consolidation zone with continuous selling activity and weak recovery attempts visible through red candlesticks.
- The price range has constricted, reflecting market confusion and eroding confidence among bullish investors.
- Technical indicators like RSI and MACD suggest a cautious outlook with bearish momentum.
- A failure to hold support around $0.00001182 could lead to a decline to $0.00001150.
- A breakout above $0.00001206 with strong volume could target the $0.00001230 resistance area.
- Shiba Inu remains at a technical disadvantage, with bear pressure likely leading to a price decline.
- A bullish scenario entails a short-term recovery if key resistance levels are breached with increasing volumes and RSI support.
- The trend is bearish, but a technical rebound is possible depending on market sentiment and potential catalysts.
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