There is potential for further growth up to the channel ceiling

21 Feb 2023SHIB formed a range trend over the past weeks between two resistance support ranges, and its price growth stopped when it hit the $0.0000150 range resistance. On the other hand, significant support is considered in the range of $0.0000112 to $0.0000118, in which Shiba is facing increased demand again. As you can see, Shiba's trend is bullish in the daily range and 4-hour timeframe.

As long as the support of $0.0000110 to $0.0000106 is maintained in the 4-hour timeframe, there is potential for further growth up to the channel ceiling. So, Shiba's targets will be in the range of the previous roof, and if it is broken, the second target will be in the range of resistance 0.0000170 to 0.0000185 dollars. For the short term, if the $0.0000122 support is broken, the identified support levels, especially the second support, will be targets for sellers. These supports are confirmed by the Smart Money indicator on the 4-hour timeframe and are important ranges for Shiba.