Is SHIB Preparing Another Bullish Rally Like Last October?

SHIB prices retest the broken $0.000013 mark and prepare for a bullish rally to reclaim buyers’ dominance over higher levels in the coming months. With the 33% jump on 14th August to reach the 200-day SMA near $0.000018, but sharply reverted after to retest the broken supply zone at $0.000013. However, the post-retest reversal in the daily chart projects the possibility of a bull run. So, will the retest reversal drive the Shiba Inu market price higher like last year’s bull run? Key Points: The SHIB prices action displays a bullish reversal after retesting the $0.000013 zone. The 50 and 100-day SMAs gain bullish spread after the recent crossover. With a market cap of $7.24 billion, the intraday trading volume of Shiba Inu has increased by 49% to reach $866 million. Source – Tradingview SHIB Technical Analysis As mentioned in our previous analysis, the SHIB prices give a tremendous bullish breakout of an ascending triangle in the daily chart. However, the prices quickly returned to retest the broken resistance. The correction phase during the retest accounts for a 27% drop from the 200-day SMA. But the buyers successfully displayed a post-retest reversal with a 6.66% growth yesterday. The daily candle with a 5% drop undermines the previous bullish candle, but the lack of volume support increases the reversal possibility. If the uptrend sustains above the $0.000013 mark, the SHIB prices may surge to the 200-day SMA at the $0.000...