Shiba Inu Prices Could Rise As It Starts To Catch Up To The Next Crypto Standard

 Shiba has broken out of its downtrend and now has a reasonable chance of moving higher shortly.


Fundamental Support level: $0.000023 


Key Resistance levels: $0.000028 


On Saturday, the price of SHIB rose significantly above the declining trendline that had been acting as resistance (in dotted line). Since then, the price has continued to grow and, if the momentum continues, may approach the crucial resistance level of $0.000028. The current status of support is $0.000023.



Chart by TradingView

Technical Pointers




Trading Volume: Technical Indicators Last Saturday, during the break, the volume spiked, but it failed to maintain that level in the days that followed.


The RSI (Relative Strength Index) is 50 points and rises daily. It would be an extra positive indicator if it could hit a higher high.

MACD: The daily MACD is bullish, indicating that buyers are gaining momentum. This might signal a price hike shortly.



Chart by TradingView


Predisposition


In the short run, the short-term bias on SHIB is optimistic.

SHIB Price Prediction in the Short Term

SHIB has a good potential of moving considerably higher and testing the critical resistance at $0.000028 if buyers maintain their enthusiasm and don't let the price fall below the existing support. Because the current decline and correction appear to be ending, the price movement favours bulls.

Disclaimer: The views expressed are those of the authors cited. It does not represent our views on whether to purchase, sell, or hold any particular investment. Before making any financial decisions, you should undertake your research. Use the information supplied at your own risk. For additional information, see the disclaimer.





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