Tuesday , November 5 2024
Home / Crypto news / Shiba Inu Price Analysis: SHIB Fails to Move Higher as Correction to Critical Support Looms

Shiba Inu Price Analysis: SHIB Fails to Move Higher as Correction to Critical Support Looms

Summary:
Key Support level: %excerpt%.000028 Key Resistance levels: %excerpt%.000034 SHIB appears unable to rally above the current key support at %excerpt%.000028, and this most recent attempt was quickly stopped by the bears. This price action may lead the cryptocurrency to retest the key support and put pressure on buyers again. The key resistance at %excerpt%.000034 remains well defended so far. Chart by TradingViewTechnical Indicators Trading Volume: The volume is falling. For this reason, the key support level may be revisited soon. The lack of buyers at the current price is concerning. RSI: The daily RSI is flat at just under 60 points and indicates some indecision in the price action. MACD: The daily MACD remains positive, but the histogram and moving averages are both falling down. On lower

Topics:
Duo Nine considers the following as important: , , ,

This could be interesting, too:

Chayanika Deka writes Financial Nihilism Fuels Meme Coin Frenzy as Traditional Finance Loses Appeal: Binance

Dimitar Dzhondzhorov writes 3 Bullish Signs for the Shiba Inu (SHIB) Price to Watch

Dimitar Dzhondzhorov writes Shiba Inu Announces a New Collaboration to ‘Elevate SHIB to the Next Level’

Dimitar Dzhondzhorov writes Shiba Inu (SHIB) Might be Gearing up for a 130% Price Increase: Analyst

Key Support level: $0.000028

Key Resistance levels: $0.000034

SHIB appears unable to rally above the current key support at $0.000028, and this most recent attempt was quickly stopped by the bears. This price action may lead the cryptocurrency to retest the key support and put pressure on buyers again. The key resistance at $0.000034 remains well defended so far.

SHIBUSDT_2022-02-17_13-14-41
Chart by TradingView

Technical Indicators

Trading Volume: The volume is falling. For this reason, the key support level may be revisited soon. The lack of buyers at the current price is concerning.

RSI: The daily RSI is flat at just under 60 points and indicates some indecision in the price action.

MACD: The daily MACD remains positive, but the histogram and moving averages are both falling down. On lower timeframes such as the 4-hours, the MACD shows no trend, which also indicates indecision.

SHIBUSDT_2022-02-17_13-14-27
Chart by TradingView

Bias

The bias on SHIB is neutral. The price appears stuck in a flat trend above the key support.

Short-Term Prediction for SHIB Price

The lack of volatility and volume has stopped SHIB from revisiting the key resistance at $0.000034, and market participants have to be satisfied with a flat trend as the price moves horizontally above the key support. The indicators show weakness, and SHIB may revisit the support at $0.000028 in the near future.

About Duo Nine

Leave a Reply

Your email address will not be published. Required fields are marked *