Shiba Inu (SHIB) Price: Bears Are Exerting More Pressure

Azeez Mustapha

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Price may reduce to $0.0000164 level

Shiba Inu (SHIB) Price Analysis: 16 June

Shiba Inu may break below the $0.0000164 and $0.0000115 levels if sellers are successful in driving the price below the $0.0000200 support level. The price of the cryptocurrency may surge over $0.0000283 and attempt to test the resistance levels of $0.0000324 and $0.0000387 if bears are successful in holding it.

Key Levels:

Resistance Levels: $0.0000210, $0.0000283, $0.0000324

Support Levels: $0.0000200, $0.0000164, $0.0000115

SHIBUSD

Long-term Trend: Bearish

For Shiba Inus, the daily chart is negative. A few weeks ago, buyers commanded the SHIB market. At $0.00002270, the price passed the threshold. A strong bullish candlestick pattern indicates that buyers are regularly prepared to join the market. On February 7, bulls drove the price above $0.00004399 as the daily candle broke above a resistance level at $0.000002270. Sellers were up against buyers at the resistance level of $0.0000439. The selling continued at the previously specified rate, giving the bears more ammunition. The price is currently declining in an effort to go below the $0.0000210 barrier.

Shiba Inu (SHIB) Price: Bears Are Exerting More Pressure

The Hull Suite forex signals indicator is currently trading above the SHIB price. SHIB may break below the $0.0000164 and $0.0000115 levels if sellers are successful in driving the price below the $0.0000200 support level. The price of the cryptocurrency may surge over $0.0000283 and attempt to test the resistance levels of $0.0000324 and $0.0000387 if bears are successful in holding it.

SHIBUSD Price Medium-term Trend: Bearish

The four-hour pricing chart shows the decrease in Shiba Inu values. The quantity of cryptocurrency that has been bought and sold, or its value, has fallen below $0.0000283 in the last two weeks. Despite the lower pricing, customers still visit the stores regularly. The price is getting closer to $0.0000164 quickly and has not recovered. If the 4-hour candle closes below the previously recommended level, the price may drop.

Shiba Inu (SHIB) Price: Bears Are Exerting More Pressure

Bears are currently pushing Shiba Inu prices lower, according to the Hull Suite FX indicator, which displays a selling market with a bearish signal. Additionally, the QQE MOD is below the zero line.

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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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