- Shiba Inu is set to jump higher in a technical push towards $0.00001.
- Thanks to Bitcoin, SHIB is in the slipstream of the positive news in the major cryptocurrencies.
- Overall risk-on sentiment in the markets, with specifically Nasdaq higher, helps to lift SHIB.
Shiba Inu is set for a run higher towards $0.0000093 as the first point of resistance in the rally. After that, the $0.00001 level is in sight.
Shiba Inu is ready to jump higher. Pure technical, SHIB has the ascending trendline that has pushed SHIB higher. SHIB surpassed the double top at $0.0000085 to the upside. That level is now turning into support and will keep prices elevated above this price range of $0.0000085.
To the upside, the first potential cap lies at $0.0000093 with the double top from June 16th and 17th. Expect SHIB to pause or hover around that area for a few hours before moving higher and SHIB to make the jump to $0.00001.
On the technical front, Shiba Inu is set for a play higher. However, the overall sentiment is helping as well. Yesterday we had Nasdaq breaking all-time highs, as Bitcoin continues on a consecutive winning streak. This winning streak could attract back investors and speculators to the crypto space and makes Shiba Inu an exciting token to take part in.
SHIB/USD 4 hour chart
The double triangle formation to the upside in Shiba Inu is ready to jump higher to $0.0000093 and next $0.00001. Not only in technical analysis but also the sentiment in the markets right now has lifted SHIB to the upside. Get ready for the launch.
