SHIB Breakout Setup: Watch $0.00000614–$0.00000640 for 50% Upside
SHIB dey hold above di $0.0000056 support zone as e dey test di overhead resistance after dem confirm say e break counter-trendline on March 13 (close pass $0.00000592). Momentum dey improve, but wetin go happen next depend on whether SHIB fit reclaim key supply levels.
Traders dey watch two resistance barriers near di current price: one horizontal range round $0.00000614–$0.00000640 and one higher descending trendline wey form after di September drop from $0.00001484. Di $0.00000614–$0.00000640 area don reject price plenty times (Feb 25, Mar 16, Mar 25), with sell pressure clear around $0.00000616.
For di time of reporting, SHIB dey trade near $0.000005851 (down 2.77% over 24h). Di base-case projection na move toward di higher descending trendline, meaning up to about ~50% rally if both resistance barriers break—roughly toward $0.00000890.
Bottom line for traders: if e close steady above $0.00000614–$0.00000640 fit trigger upside run; if e fail there many times, sellers go still get control and di next leg higher for SHIB go delay.
Bullish
Di dem tinz share wan constructive view: SHIB dey hold one defined support ($0.0000056) and e don already confirm one counter-trendline breakout wen e close for March 13 pass $0.00000592. Dat dey improve di odds for more upside.
But both still stress say resistance dey close and e don tey test. SHIB must clear $0.00000614–$0.00000640 with sustained closes; otherwise di earlier rejections and sell pressure around ~$0.00000616 show say sellers fit regain control. If di breakout succeed, di path dey set toward di higher descending trendline, supporting one potential ~50% rally to about $0.00000890.
So di impact dey bullish for SHIB short-term, but e conditional—if dem no fit reclaim di resistance zone e go likely cancel di upside scenario and keep price range-bound.