The post Shiba Inu Holds Strong Above Key Support, Analyst Predicts Rally Toward $0.000020 appeared on BitcoinEthereumNews.com.

Shiba Inu (SHIB) maintains $0.000013 support, with analyst Martinez noting the potential for a rebound to $0.000020. Shiba Inu’s price has experienced heightened market fluctuations, with its price currently at $0.00001337, marking a 1.7% decline in the past 24 hours. The token briefly dipped to $0.00001277 before recovering, demonstrating significant intraday volatility. Despite this, SHIB has remained above the critical $0.000013 support level, which has played a key role in stabilizing its price. Over the past 14 days, SHIB has dropped 14.2%, extending its year-over-year losses to 55.2%. Despite these declines, slight gains of 0.7% in the past hour and 0.6% over the last week indicate potential stabilization. Amid the volatile times for the memecoin, analysts continue to monitor key support and resistance levels to determine the token’s next move. A price chart shared by expert analyst Ali Martinez highlights SHIB’s ability to sustain its position above $0.000013. If the token holds this level, an increase in buying pressure could drive prices higher.  #ShibaInu $SHIB is holding strong above the critical $0.000013 support. If buying pressure picks up at this level, a rally toward $0.000020 could be in play! pic.twitter.com/YjfA61A1tk — Ali (@ali_charts) March 7, 2025 Historical trends reveal a significant rally in November, which pushed SHIB above the $0.000032 resistance level before a correction followed. Martinez suggests that maintaining the current support level could lead to a potential rebound toward $0.000020. Technical Indicators and Long-Term Projections Elsewhere, technical analysis by Javon Marks presents a broader perspective on SHIB’s potential price movement. The chart indicates a prolonged downtrend following its previous all-time high. However, two breakout points suggest a shift in trend, signaling a move away from bearish conditions. The first breakout led to a moderate rally, while a subsequent retest of previous support reinforced its significance. A hidden bullish…

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Filed under: News - @ March 7, 2025 7:20 pm