Since September, SHIB price has been on a winning streak, with price action fading on October 7. Bulls have been very controlled and patient for another entry and are now shifting back into middle gear for a new attempt to claim a price of $0.00003535. From there, $0.00004000 will be in the cards as a completion of this bull rally.

Shiba Inu price action saw bulls denying bears a rally

Shiba Inu price action saw bulls denying bears a rally, with the latter having an opportunity for SHIB to reverse the bull run since late September completely. With the pattern formation of a green ascending trend line on October 9, Shiba Inu price action has resupplied the bull rally. Bulls are reclaiming levels they lost control of in the profit-taking fade on October 7.

By reclaiming a price of $0.00002775, bulls entered or added long positions in their books, and Shiba Inu's price saw a substantial breakthrough of $0.00002775 level and, maybe a bit too eagerly, attempted to attack a price of $0.00003115. 

Expect first to see SHIB price action settle down a bit, seek a support level at $0.00002775, and then add more buyers in the bull run to convincingly break the price of $0.00003115. The next support level in their rally would be $0.00003535, the high from October 7, which would form a double top.

Shiba Inu price action could go for the total swing trade line and see bulls push to the $0.00004000 level. For that, however, buyers will need to add more trade volume, and some more favorable tailwinds need to join the bull run. Otherwise, the rally would hit the $0.00003535 level and start to fade again. 

When Shiba Inu's price faces some headwinds and buyers start to take their profits without respecting the target, expect a quick and violent reversal in SHIB price action back toward the $0.00002000 level. That level will certainly hold quite a lot of importance with bulls defending this area because otherwise, they will certainly not see a price of $0.00003535 for a long time.

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