Shiba Inu (SHIB), which has a positive outlook in terms of technical analysis, has started to give the green light for a rise.

Memecoin trend weakening and Bitcoin (BTC) which came to a critical level with its decline. Shiba Inu (SHIB) gave a bullish signal. The popular coin, which is heading towards a downtrend with a reaction from the minor support level, may exhibit voluminous price movements in a short time. This process seems to develop depending on the technical structure of the pair and the course of BTC.

So, to which levels can a rise be expected for SHIB? What are the support and resistance points on the popular coin?

SHIB investors should keep an eye on these levels!

SHIB, which has been pricing bearishly since $0.00004448, has started the countdown to the breakout. The popular memecoin, which has been in a downtrend since March 5, may first make a move to $ 0.00003507 if it breaks through. Afterwards, the $0.00004417 level can be followed as resistance. Even higher levels can be targeted for the popular coin if BTC prices positively or BTC dominance declines.

Bearish movements of BTC, an increase in BTC dominance or other trends that put memecoins in the background will naturally create selling pressure on SHIB. In such a scenario, pullbacks towards $0.00002536 – $0.00001699 and $0.00001031 may follow respectively.

Another factor that may be decisive in the price movements of the pair will be the burning transactions. Shiba Inu, which burns regularly, can move the price up faster if it increases the amount of burning.