Shiba Inu (SHIB) Price:  Bears’ Pressure Increase Daily

Further price reduction envisaged

Shiba Inu (SHIB) Price Analysis: 08 February

If buyers can push the price above $0.0000066, it might be able to break through the resistance levels of $0.0000068 and $0.0000075. If sellers are able to keep the price below $0.0000059, they can attempt to attack the support levels of $0.0000045 and $0.0000040.

Key Levels:

esistance Levels: $0.0000066, $0.0000068, $0.0000075

Support Levels: $0.0000059, $0.0000045, $0.0000040

SHIBUSD

Long-term Trend: Bearish

There is a hint of a negative turnaround on the Shiba Inu daily chart. The SHIB market has been controlled by buyers since July 21. The price peaked on Monday, the 5th, at $0.000010. A bearish engulfing candlestick pattern indicates the level of selling pressure. The overwhelming pessimism caused the price to fall below $0.0000075. The price was then checked at the $0.0000068 point. After the price was evaluated at the appropriate resistance level, selling pressure resumed its influence on trading activity. It is clear that the market is currently declining near the $0.0000075 barrier level. When the price hits this level once more, sellers take over and push it lower until it tests $0.0000059.

The current pricing of SHIB is in line with the Hull Suite indication. If buyers can push the price above $0.0000066, it might be able to break through the resistance levels of $0.0000068 and $0.0000075. If sellers are able to keep the price below $0.0000059, they can attempt to attack the support levels of $0.0000045 and $0.0000040.

SHIBUSD Price Medium-term Trend: Bearish

The Shiba Inus price drop over a four-hour period is shown in the pricing chart. Over the past month, the currency has been traded for less than $0.0000075. Despite the price reduction, customers continue to visit the stores. Prior to breaking through other support levels, the price initially dipped below the $0.0000076 mark. When the 4-hour candle closed at the previously stated level, the price briefly tested the $0.0000059 barrier.

Shiba Inu prices are currently declining as a result of a negative signal on the Hull Suite FX indicator, which is pushing the market lower. Furthermore, there is an integer less than zero in the QQE MOD.

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