The price of the asset is consolidating in a narrow range, although SHIB traders are waiting for another new ATH. So, could the recession in SHIB price be the harbinger of a near-term storm?

Shiba Inu technical analysis: What would the SHIB price be?

While SHIB investors are waiting for a new peak; The asset's volatility and trading volume have been moving low for the past few days. This shows that the consolidation phase has taken place before a new move.

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Usually, price stuck in a narrow range is seen as a sign of a major breakout that will follow. During this period, a narrow trading range was formed in SHIB price between the $0.000050 support and $0.00055 resistance levels.

The fact that the pair managed to break out of the descending triangle indicates that the downtrend has stopped, at least for now. If the bulls are fully engaged, they could push the SHIB coin into an uptrend once again.

Important support/resistance and technical indicators for SHIB price

Key support levels: USD 0.0000050; 0.0000044 USD
Key resistance levels: USD 0.000055; 0.000063 USD

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