The most critical Fibonacci level on the Shiba Inu Coin (SHIB) chart is the 50% Fib level. SHIB consolidates just below this level. The trend is starting to look more and more like a bullish reversal.
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Let’s review the SHIB chart, zoom in on the Fibonacci level(s).
In doing so, we try to make sense of price action at the most important level. Fibonacci level.
What is the most critical Fibonacci level?
Last week we wrote that Shiba Inu Coin (SHIB) would present a buying opportunity in January 2025:
Shiba Inu (SHIB) price drop in January 2025: buying or selling opportunity?
Here is what we concluded:
- The point is this: whether the breakout level at $0.0000241 (50% Fibonacci) offers resistance.
- SHIB needs 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.
This is a big part of Fibonacci’s focus.
Rightly so, since SHIB is working on a pattern between the 2 most important Fibonacci levels: the 50% Fib level (by far the most important) and the 38.2% Fib level (somehow the 2nd most important).
Shiba Inu Coin: Critical Fibonacci Level
The SHIB chart really visualizes the point we made above.
The 50% Fibonacci level coincides with the thin purple line on the chart below: $0.00002345. By far the most important level of any retracement.
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In line with the point made above, what is the chart pattern that develops between the thin purple and red lines, the 2 Fib levels?
Indeed, a bullish consolidation, with higher lows.
Bullish?
Yes, provided that the lower level is maintained.
SHIB – off to the races?
Yes and no.
On the one hand, the most important thing is that the support is covered. We are seeing significant buying in the crypto space, as evidenced by this:
Strong Bitcoin Intraday Buys: Important BTC Chart Message for Crypto Investors in 2025
Purchases are strong, especially in $90,000 Tier of BTC, the leading indicator of the entire crypto market.
On the other hand, SHIB tends to follow with a certain lag. Memes generally lag behind, with the sole exception of November 2024, where they were the leaders.
SHIB will go the way of Bitcoin. It’s okay if it lags behind, as long as Bitcoin stays ahead.
CONTINUE READING – Bitcoin Forecast for 2025 to 2030.