Shiba Inu (SHIB) Price Awaiting a Breakout at $0.00000767 Level

Shiba Inu price lies between $0.00000682 and $0.00000767 levels

Shiba Inu (SHIB) Price Analysis: 08 October

If pushed and the price breaks through the $0.00000682 support level, sellers may push SHIB to test the $0.00000594 and $0.00000420 levels. The price of the cryptocurrency may increase past $0.00000767 and reach the resistance levels of $0.00000838 and $0.00000919 if bulls are successful in holding the $0.00000682 level

Key Levels:

Resistance Levels: $0.00000767, $0.00000838, $0.00000919

Support Levels: $0.00000682, $0.00000594, $0.00000420

SHIBUSD Long-term Trend: Ranging

On the daily chart of the Shiba Inu, a range trend can be noted. Since September 11, the price of the cryptocurrency has fluctuated between the $0.00000767 resistance level and the $0.00000682 support level. On September 23, the daily candle tested the $0.00000767 resistance level, and it appeared that the bulls were exerting more pressure than the bears. The sellers have opposed the buyers’ movement, so the price has remained erratic between the aforementioned levels.

Currently, SHIB is trading between the two EMAs. If pushed and the price breaks through the $0.00000682 support level, sellers may push SHIB to test the $0.00000594 and $0.00000420 levels. The price of the cryptocurrency may increase past $0.00000767 and reach the resistance levels of $0.00000838 and $0.00000919 if bulls are successful in holding the $0.00000682 level. Level 42 should be purchased based on the relative strength index for period 14.

SHIBUSD Price Medium-term Trend: Ranging

Shiba Inu’s 4-hour pricing chart reveals a changing market. The coin’s value drops to $0.00000682 as a result of the recent three weeks’ selling outpacing buying. The price dropped to the predetermined level as a result of the sellers’ zeal. When there were more buyers than sellers the previous week, the SHIB price decreased to $0.00000682. The aforementioned support level has been maintained by purchasing pressure.  Currently, the cost lies between $0.00000682 and $0.00000767.

The 9- and 21-period exponential moving averages are now the areas where Shiba Inu prices are most volatile. A sell signal appears at 51 on the Relative Strength Index.

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