Shiba Inu Coin

Shiba Inu Analysis – Price Expected To Explode 20% Soon But Will Face Resistance.

After breaking away from the blue triangle, Shiba Inu bulls were able to drive the price all the way to the resistance level of $0.00005 USD. The price will roughly rise by roughly 20% soon.

The positive signs that pointed to this likelihood were previously highlighted in yesterday’s SHIB study. The latest price action has validated this scenario, and the bulls have a decent chance of breaking over the current resistance if they can transform the apex of this descending triangle into support at about $0.000050. Otherwise, the bears may retake control. It’s worth noting that this newest resistance rejection might be read as a new lower low on the chart.

Shiba Inu Price Trading VolumeĀ 

Technical Indicators: On the breakout from the triangle, there were a lot of volumes. However, when the price approached the resistance, this swiftly evaporated.

Shiba Inu

Shiba/USD 7 DAYS PRICE CHART: SOURCE – Coinmarketcap.com

RSI: On the 4-hour period, the RSI recently hit a new high. After previously making a higher low, this is bullish. However, the bulls must maintain their upward momentum so that the RSI can curve back up on a daily basis.

MACD: On the 4-hour period, the MACD made a bullish cross, which is a strong sign of a possible reversal. The MACD histogram also recorded a higher bottom on the daily period, possibly indicating that the negative trend is coming to an end.

Bias

With this breakthrough, the SHIB bias has shifted to positive. To keep this bias, the SHIB price must not fall below $0.000050.

SHIB Price Prediction in the Short Term

SHIB appears to have a decent probability of resuming its upward trend. This last rise has shifted the bias to bullish, and if the price can hold at the $0.000050 support, it has a good possibility of turning the indications on longer timescales, such as the daily, back to bullish. As the bulls and bears battle for control, the price of SHIB is projected to bounce between these two levels until it breaches the present barrier at $0.000055.

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