Shiba Inu (SHIB) has experienced notable price movements since October, now trading above a crucial horizontal level. Although the weekly Relative Strength Index (RSI) indicates a bullish trend, the daily chart suggests a potential price drop before any upward movement. After reaching a high of $0.0000119 last week, SHIB faced resistance and could not maintain this level, signaling a possible price decrease. However, if SHIB breaks out from the current parallel channel, a substantial increase is plausible, potentially leading to a 40% rise to the next resistance at $0.0000150.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.