SHIBUSDT potential test of Down Trend Resistance line
2024-10-08

SHIBUSDT is currently in an accumulation phase, with the price oscillating around the 0.000015 level. The market has bounced off this support level twice before initiating an upward impulse move. The most recent swing upward was stronger than the previous one, signaling a potential increase in bullish momentum. Growing expectations of a possible bull run could act as a trigger for further upward movement. The market continues to bounce off the upward trendline, forming higher lows, which indicates buying pressure. Based on this analysis, the price could retest the channel border, potentially leading to further bullish momentum. The target is the resistance zone at 0.00002.