Key Support level: %excerpt%.000030 Key Resistance level: : %excerpt%.000038 SHIB was rejected by the %excerpt%.000038 resistance and pushed lower following the market’s downturn that started on Tuesday. The current support is found at %excerpt%.000030 and could be retested if the overall market remains bearish. Chart by TradingViewTechnical Indicators Trading Volume: The volume has been low despite the current correction. This gives hope that SHIB can quickly reverse course once buyers return. RSI: The RSI on the daily has stopped falling at the time of this post and if the price manages to do the same then this could be interpreted as a higher low, which is bullish. MACD: The daily MACD remains bullish. If SHIB can reverse course from this point onwards there is a good chance it can move higher
Topics:
Duo Nine considers the following as important: Price Analysis, Shiba Inu (SHIB), SHIBBTC, SHIBUSD
This could be interesting, too:
Dimitar Dzhondzhorov writes This Trader Made Over Million by Selling Shiba Inu (SHIB) Holdings: Details
Dimitar Dzhondzhorov writes Shiba Inu (SHIB) Drops by 15% in 2 Weeks: These Factors Suggest Extended Correction
Jordan Lyanchev writes Meme Coin Bloodbath: BONK, FLOKI, WIF, SHIB, and DOGE Crash by Double Digits
Dimitar Dzhondzhorov writes Shiba Inu’s Shibarium Reaches a New Milestone: Details
Key Support level: $0.000030
Key Resistance level: : $0.000038
SHIB was rejected by the $0.000038 resistance and pushed lower following the market’s downturn that started on Tuesday. The current support is found at $0.000030 and could be retested if the overall market remains bearish.
Technical Indicators
Trading Volume: The volume has been low despite the current correction. This gives hope that SHIB can quickly reverse course once buyers return.
RSI: The RSI on the daily has stopped falling at the time of this post and if the price manages to do the same then this could be interpreted as a higher low, which is bullish.
MACD: The daily MACD remains bullish. If SHIB can reverse course from this point onwards there is a good chance it can move higher and break the current resistance level.
Bias
The bias on SHIB is neutral. The cryptocurrency appears to be stuck in a flat trend at the time of this post.
Short-Term Prediction for SHIB Price
If SHIB is successful in breaking above the current resistance at $0.000038, then the bias can change to bullish. Until then, the price will remain in a range between support and resistance as it moves sideways.