Analyst States Where to Go Long On Shiba Inu (SHIB)
Main Idea
An analyst identifies a potential long-term buying opportunity for Shiba Inu (SHIB) within a specific price range, despite recent price declines.
Key Points
1. SHIB has declined approximately 7.86% as of July 23, erasing part of its 16% gains from the previous week.
2. The analyst highlights a buy zone between $0.0000142 and $0.0000128 as a strong accumulation opportunity.
3. Key support levels were observed at $0.00001029 and $0.00001004, with resistance at $0.00001765.
4. If SHIB holds the buy zone, a breakout could target $0.0000190 (a 36% increase) and potentially extend to $0.000024 or $0.000035.
5. The analysis suggests that current price weakness may be temporary, with potential for upward movement if resistance levels are overcome.
Description
Shiba Inu has seen notable price pressure as part of a broader altcoin correction. Despite this short-term weakness, market expert CJ has pinpointed a potential entry point for bullish investors, suggesting the current decline may offer a favourable long-term opportunity. Recent Price Movement and Context As of July 23, SHIB has registered a decline of approximately 7.86%, placing it on track for its largest single-day drop since May 30. This downward movement has eroded a portion of the 16% gai...
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