Shiba Inu Risks Decline But Break Over $0.00001000

Earn money with the top Binance exchange

Shiba Inu Risks Decline But Break Over $0.00001000

The price of Shiba Inu (SHIB) continues to decline despite an upward correction.

Shiba Inu price long-term forecast: bearish

Since March 9, the decline has slowed above the $0.00001000 support level. At the time of writing, SHIB is trading at $0.00001088. Last week, the cryptocurrency asset corrected to reach its previous highs. However, the upward movement was slowed down by the 21-day line SMA. SHIB is deteriorating against the current support as a result. If the current support level is breached, the cryptocurrency will continue to fall. On February 9, SHIB changed direction and a candlestick tested the 50% Fibonacci retracement level. SHIB will fall to the 2.0 Fibonacci extension level or $0.00000837 after the correction.

Shiba Inu indicator analysis

SHIB is still vulnerable as it is at level 44 of the Relative Strength Index for period 14. The altcoin has a bearish crossover. The 21-day line SMA crosses below the 50-day line SMA, indicating a sell order. The SHIB price bars are below the moving average, indicating a decline. The altcoin is in a bullish momentum above level 70 of the daily stochastic.

Shiba Inu Risks Decline But Break Over $0.00001000

Technical indicators

Key resistance levels: $0.00001200, $0.00001300, $0.00001400

Important support levels: $0.00001100, $0.00001000, $0.00000900

What is the next step for Shiba Inu?

According to the price indicator, SHIB will continue to decline. Selling pressure will become necessary if the bears break below $0.00001000 support. The altcoin is trading in a narrow range as it faces rejection at the high of $0.00001150.

Shiba Inu Risks Decline But Break Over $0.00001000

Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing in funds.


Показать больше

Добавить комментарий

Кнопка «Наверх»
%d такие блоггеры, как: