Shiba Inu (SHIB) Price Bounces at $0.00001259 Level

Azeez Mustapha

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SHIB price may increase to $0.00002143 level

Shiba Inu (SHIB) Price Analysis: 07 July

If sellers are successful in pushing the price below the $0.00001531 support level, Shiba Inu may break below the $0.00001385 and $0.00001259 levels. If bears are successful in holding it, the price of the cryptocurrency can rise beyond $0.00001696 and try to test the resistance levels of $0.00002001 and $0.00002143.

Key Levels:

Resistance Levels: $0.00001696, $0.00002001, $0.00002143

Support Levels: $0.00001531, $0.00001385, $0.00001259

SHIBUSD

Long-term Trend: Bearish

The daily chart for Shiba Inus is negative. A few weeks ago, the SHIB market was controlled by buyers. The price crossed the threshold at $0.00002001. A significant number of bullish candlestick patterns suggest that buyers are always ready to enter the market. As the daily candle broke over a resistance level at $0.000002143 on February 7, bulls boosted the price above $0.00002143. There was competition between buyers and sellers at the $0.00002143 resistance level. The bears gained additional ammunition as the transaction proceeded at the agreed upon pace and the support level of $0.00001259 level was tested. Currently, the price is pulling back towards $0.00001696 level.

Shiba Inu (SHIB) Price Bounces at $0.00001259 Level

Right now, the Hull Suite indicator is trading higher than the SHIB price. If sellers are successful in pushing the price below the $0.00001531 support level, SHIB may break below the $0.00001385 and $0.00001259 levels. If bears are successful in holding it, the price of the cryptocurrency can rise beyond $0.00001696 and try to test the resistance levels of $0.00002001 and $0.00002143.

SHIBUSD Price Medium-term Trend: Bearish

The decline in Shiba Inu values is depicted in the four-hour pricing chart. Over the past two weeks, the amount of currency that has been bought and sold, or its value, has dropped to less than $0.00001385. Customers continue to frequent the stores on a regular basis despite the cheaper costs. The price is increasing and is going very near to the $0.00001696 mark. The price might increase if the 4-hour candle closes above the $0.00001696 support level.

Shiba Inu (SHIB) Price Bounces at $0.00001259 Level

The Hull Suite FX indicator shows a buying market with a bullish Crypto signals, indicating that bulls are now driving up Shiba Inu prices. The QQE MOD is also above 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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