Shiba Inu ended 2024 on a strong note, showing signs of significant upward momentum. Crypto analyst Javon Marks has identified key indicators that suggest that the asset is set for a substantial rally in the coming months. As of now, the token is trading at $0.00002242, reflecting a 7.9% increase in the last 24 hours. Marks has pointed out that the token recently surpassed a major resistance trendline that had been holding back its price growth. Following this breakout, SHIB reached a seven-month high of $0.00003329 earlier in December. However, the rally was followed by a corrective phase, during which the asset retraced most of its gains. This correction saw the token revisit lows around $0.0000186, erasing much of its earlier progress. Despite this pullback, Marks noted that the asset successfully retested its breakout level as a new support zone. Since then, it has rebounded and is currently consolidating in the $0.000022 range. Marks considers this development a strong bullish signal, emphasizing that the asset’s ability to hold above the breakout level sets the stage for continued upward movement. Price Projections Javon Marks has set an optimistic price target of $0.000081 for Shiba Inu, which would represent a more than 270% increase from its current trading levels. This price point marks a critical area where SHIB faced significant resistance during its previous market cycle. Marks has consistently identified $0.000081 as a key target for the token throughout 2024 and maintains confidence that the token will eventually reclaim this level. In addition to this projection, he has suggested that Shiba Inu could reach as high as $0.000155 during the current bull market. This higher target represents an unprecedented price level for the token, signaling the potential for significant gains if market conditions remain favorable. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Hidden Bullish Divergence One of the factors supporting the bullish outlook for the digital asset is the presence of hidden bullish divergence on its price chart. This phenomenon occurs when the asset’s price forms higher lows while momentum indicators display lower lows, indicating underlying strength and potential for further upward movement. Marks has highlighted this divergence as a critical component of Shiba Inu’s bullish narrative. Combined with the asset’s ability to maintain its position above the key breakout level, this divergence reinforces the case for continued price growth. With Shiba Inu holding above crucial support levels and displaying robust bullish signals, analysts are optimistic about its near-term performance. Marks’s target of $0.000081 reflects significant growth potential, while his higher projection of $0.000155 suggests even greater opportunities for long-term investors. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Analyst Highlights SHIB Bullish Momentum, Predicts Rally to $0.000081 appeared first on Times Tabloid .
