Shiba Inu (SHIB) price is showing signs of a rise ahead despite the crypto market led by Bitcoin noting declines.
Shiba Inu's price is hovering around a key support level, and bouncing off it could bring about considerable profits. The MACD indicator is currently showing a bullish twin peak pattern, suggesting positive momentum and potential upward price movement.
Additionally, the Sharpe Ratio has turned positive, indicating risk-adjusted returns that outweigh its risk, although it has not yet stabilized. It shows a 10% risk-adjusted return over the day, which is favorable for investors.
Overall, a combination of a bullish MACD twin peak and a positive Sharpe Ratio suggests Shiba Inu is building momentum. However, investors should remain cautious as the market could change.
Looking at these factors, Shiba Inu's price could close above $0.00001473, converting this level into support which could enable quicker recoveries. The altcoin aims to breach $0.00001667 which could lead to further rallies, making $0.00001961 the next major resistance.
If the breach fails, Shiba Inu’s price could either consolidate or drop, leading to the loss of $0.00001473 as support, and sending SHIB to $0.00001281.
