Following the breakout of the distinguished weekly resistance trendline, the SHIB worth takes a brief stroll above the $0.00001025 stage. Nevertheless, the overhead provide power shortly results in a retest section within the first week of January 2024.

With a chance of a bullish failure as a result of market-wide fall, Shiba Inu stands at a pivotal pattern for the 2024 decisive level. On a constructive word, our long-term Shiba Inu worth prediction hints at a triumphant bull run for meme cash in 2024. 

Within the weekly chart, the excessive quantity breakout pattern takes a U-turn and loses dominance over the $0.000010 psychological milestone. Nevertheless, the continued retest results in a 5% drop in SHIB worth this week with a long-tail formation, reflecting lively demand at decrease ranges.

Additional, the dearth of bearish religion is clear within the declining buying and selling quantity accompanying the retest section. Therefore, the probabilities of a post-retest reversal regaining bullish momentum is notable in Shiba Inu. 

At present, the SHIB worth trades at $0.00000981, barely beneath the psychological mark. Nevertheless, the weekly fall warns of a bearish final result.  

Technical indicators:

MACD indicator: With the retest section in movement, the SHIB worth brings a detrimental impression on the MACD and sign traces. The typical line loses its bullish pattern to enter a lateral shift and warns of a bearish crossover because the histograms decline. 

RSI Indicator: The declining pattern within the day by day RSI line takes a reversal from the overbought boundary and displays a loss in shopping for stress. Therefore, the momentum indicators are warning a loss within the curiosity of traders. 

Will SHIB Worth Reclaim $0.000010?

The bulls lose their footing with the market dropping momentum, teasing a bearish fall if the retest section fails. Additional, the a number of meme cash are crashing beneath their important ranges at a time like this. 

For Shiba Inu, as per the above SHIB worth motion evaluation, the retest might be essential for the patrons to maintain above the $0.000010 mark. In such a case, the reversal can lead the uptrend to the following resistance ranges at $0.0000125 and $0.000015. 

On the flip facet, if the Shiba Inu coin worth fails to reclaim $0.000010, then it might tumble to $0.000008360.