Further price reduction is possible
Shiba Inu (SHIB) Price Analysis: 23 June
If sellers are successful in pushing the price below the $0.0000164 support level, SHIB can break below the $0.0000115 and $0.0000139 levels. If bears are successful in holding it, the price of the cryptocurrency can rise over $0.0000200 and try to test the resistance levels of $0.0000210 and $0.0000283
Key Levels:
Resistance Levels: $0.0000200, $0.0000210, $0.0000283
Support Levels: $0.0000164, $0.0000115, $0.0000139
SHIBUSD
Long-term Trend: Bearish
The daily chart for Shiba Inus is negative. A few weeks prior, the SHIB market was controlled by buyers. The price crossed the threshold at $0.00002270. A bullish candlestick pattern with significant volume suggests that buyers are consistently ready to enter the market. As the daily candle broke over a resistance level at $0.000002270 on February 7, bulls boosted the price above $0.00004399. Buyers and sellers faced each other at the $0.0000439 resistance level. The bears gained additional ammunition as the sale persisted at the predetermined rate. Right now, the price is dropping in an attempt to break below the $0.0000164 threshold.
Right now, the Hull Suite indicator is trading lower than the SHIB price. If sellers are successful in pushing the price below the $0.0000164 support level, SHIB can break below the $0.0000115 and $0.0000139 levels. If bears are successful in holding it, the price of the cryptocurrency can rise over $0.0000200 and try to test the resistance levels of $0.0000210 and $0.0000283.
SHIBUSD Price Medium-term Trend: Bearish
The decline in Shiba Inu values is depicted in the four-hour pricing chart. In the past two weeks, the amount of coin that has been bought and sold, or its value, has dropped below $0.0000200. Customers continue to frequent the stores on a regular basis despite the cheaper prices. The price has not recovered and is rapidly approaching $0.0000164 level. The price can decrease if the 4-hour candle closes below the previously advised threshold.
According to the Hull Suite Forex signals indicator, which shows a selling market with a bearish signal, bears are currently driving down Shiba Inu prices. The QQE MOD is also below the zero line.
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