Shiba Inu (SHIB) Price Awaits a Breakout

Azeez Mustapha


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Ranging movement continues in SHIB market

Shiba Inu (SHIB) Price Analysis: 09 April

Price will rise above the $0.0000113 resistance level due to buyers’ pressure, possibly testing the $0.0000118 and $0.0000125. The cryptocurrency may reach support levels of $0.0000098 and $0.0000091 if it can successfully decline below $0.0000104.

Key Levels:

Resistance Levels: $0.0000113, $0.0000118, $0.0000125

Support Levels: $0.0000104, $0.0000098, $0.0000091

SHBUSD Long-term Trend: Ranging

On the daily chart, Shiba Inu is on the ranging movement. The Shiba Inu market did not see any significant changes. The $0.0000113 resistance level is still in place and is preventing further price increases. However, because of the purchasers’ lackluster momentum, the price was unable to increase above the indicated threshold. The support level of $0.0000104 is preventing further price drops. This causes the price to swing between $0.0000113 and $0.0000104 at the moment.

The 9-period EMA and 21-period EMA are separated, and the price is trading between the two EMAS. Price will rise above the $0.0000113 resistance level due to buyers’ pressure, possibly testing the $0.0000118 and $0.0000125. The cryptocurrency may reach support levels of $0.0000098 and $0.0000091 if it can successfully decline below $0.0000104. The Relative Strength Index’s period 14 signal line, which is at level 48, is parallel to the mentioned level.

SHIBUSD Price Medium-term Trend: Ranging

Shiba Inu is ranging on the 4-hour chart. The cryptocurrency’s price fluctuates between $0.0000113 and $0.0000104. While buyers are defending the support level, sellers are defending the resistance level. Currently, the price is within the range that has been predicted since three weeks ago.

Shiba Inu is hovering over the dynamic levels, which suggests that the SHIB market may continue to move in a range. The 44 levels of the Relative Strength Index show no specific direction.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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