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Shiba Inu price poised for 50% breakthrough, kicking off fresh bull run
Shiba Inu prices have remained within a narrow trading range following a 15% increase on January 12.
To start a fresh bull run, primary resistance at $0.0000033 must be broken.
There are downside dangers, but they are minor in comparison to the upside possibilities.
Shiba Inu price movement has partly steadied from the 35% fall from December 28, 2021 to January 10, 2022. However, it has retained the majority of its gains and has remained within a vital Ichimoku support zone.
Shiba Inu price must break through two crucial technical levels to shift from a negative to a positive perspective. The $0.000032 value region is shared by the daily Kijun-Sen and the Volume Point Of Control. If bulls can drive SHIBA over that level, a new trend may commence.
On the daily chart for Shiba Inu price, there is currently a speculative trade setup. The entrance, however, comes with the restriction that the daily close must be at or slightly over the entry level. As a result, the hypothetical trade setup includes a buy stop order at $0.000033, a stop loss at $0.29 (just below the Tenkan-Sen), and a profit objective of $0.000049.
The trade has a reward/risk ratio of 4:1 and an anticipated profit goal of little more than 50% from the entrance. A trailing stop would protect any profit generated after the entrance.
If the Shiba Inu price falls below the January 10 close or falls below the January 10 low, the deal is null and void. In that case, Shiba Inu would most likely be worth $0.000020.
