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Shiba Inu analysis – bounce from key support caused growth of 30% in just 3 days

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Shiba Inu tested one key support at $ 0.00002600 followed by an evaluation of 26% at the time of writing the analysis. In the short term, bull volumes prevail and the price will soon face a resilient zone. However, the price seems to have found the bottom of the correction and is located in accumulation zone.

SHIB reaches high bull candles from the last low and the next will face resistance to point of control $ 0.00003380. We can then follow bull target at $ 0.00003950. However, this whole structure is an accumulation zone that should prevent a bullish trend.

Shiba Inu has tested key supportSource: TradingView

Shiba Inu has tested key support

The last minimum was created on the previous long-term important sideway structure from October 2021. It is also a support of the current accumulation zone. Don’t forget that the chart still did not reach a higher maximum. Definitive confirmation of the end of the accumulation will occur only when the price exceeds $ 0.00003950.

In the short term, it will be essential to create higher local lows and at least go sideways. Because the lows are still falling. It is quite possible that on real growth we will still wait, but it seems that the price has already ended the correction and entered the accumulation, even though we have not confirmed it.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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