The most critical Fibonacci level on the Shiba Inu Coin( SHIB) chart is the 50% Fib level. SHIB is consolidating right below this level. The pattern starts looking increasingly like a bullish reversal.
RELATED – Shiba Inu Coin prediction 2025 to 2030
Let’s review the SHIB chart, zoom in on the Fibonacci level(s).
In doing so, we try to make sense out of price action right at the most important Fib level.
Which is the most critical Fibonacci level?
Just last week, we wrote that Shiba Inu Coin (SHIB) would present a buy opportunity in January 2025:
Shiba Inu (SHIB) Price Drop in January 2025: Buy Opportunity Or Sell?
This is what we concluded:
- The point is this – if the breakout level at $0.0000241 (50% Fibonacci) provides resistance.
- SHIB has to create support which it will do at its 61.8% Fib level at $0.0000177.
- Our best guess is that $0.0000177 to $0.0000241 will be the consolidation range for SHIB in January 2025.
That’s a lot of Fibonacci focus.
Rightfully so, as SHIB is working on a pattern between the 2 most important Fibonacci levels: the 50% Fib level (by far the most important one) and the 38.2% Fib level (in a way, the 2nd most important one).
Shiba Inu Coin: critical Fibonacci level
The SHIB chart really visualizes the point we made above.
The 50% Fib level coincides with the purple fine line on the chart embedded below: the $.00002345. By far, the most important level in any retracement.
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Per the point made above, what’s the chart pattern that is developing between the purple and red fine lines, the 2 Fib levels?
Indeed, a bullish consolidation, with higher lows.
Bullish?
Yes, provided the lower level holds.
SHIB – off to the races?
Yes and no.
On the one hand, the most important thing is that support is covered. We see strong buying popping up in crypto as evidenced by this:
Bitcoin Strong Intraday Buying: Important Message On The BTC Chart For Crypto Investors In 2025
Buying is strong, especially at the $90k level of BTC, the leading indicator for the entire crypto market.
On the other hand, SHIB tends to follow with a lag. Memes are typically laggards, with the only exception in November 2024 where they were the leaders.
SHIB will follow Bitcoin’s path. It’s fine if it’s lagging, as long as Bitcoin keeps on leading.
CONTINUE READING – Bitcoin forecast for 2025 to 2030.
