Shiba Inu (SHIB) Price: Buyers May Gain More Pressure

Bulls’ pressure is increasing in Shiba Inu market

Shiba Inu (SHIB) Price Analysis: 24 March

If buyers can push the price above the resistance level at $0.00003056, they might force SHIB to break above the $0.00003670 and $0.00003958 levels. The price of the cryptocurrency may drop below $0.00002265 and hit the support levels of $0.000002108 and $0.00001888 if bears are successful in holding the $0.00003056 level.

Key Levels:

Resistance Levels: $0.00003056, $0.00003670, $0.00003958

Support Levels: $0.00002265, $0.00002108, $0.00001888

SHIBUSD

Long-term Trend: Bullish

Shiba Inus’s daily chart is trending upward. A few weeks prior, SHIB market was controlled by buyers. The price crossed the threshold at $0.00002108. Every day, a strong bullish candle seems to suggest that buyers are prepared to enter the market. The daily candle on February 07 broke over $0.000002265, a resistance level, suggesting that bulls, not bears, were pushing the price above $0.000003056. After that, it pulled back, and it is now rising to surpass $0.00003056.

As of now, SHIB is trading above the Hull Suite signal. If buyers can push the price above the resistance level at $0.00003056, they might force SHIB to break above the $0.00003670 and $0.00003958 levels. The price of the cryptocurrency may drop below $0.00002265 and hit the support levels of $0.000002108 and $0.00001888 if bears are successful in holding the $0.00003056 level.

SHIBUSD Price Medium-term Trend: Bearish

The four-hour pricing chart displays the Shiba Inu price retracement. The last two weeks have seen a rise in the value of the cryptocurrency of around $0.00003670, as more purchases than sales have occurred. The price increase was well received by the clients, while patrons took advantage of the merchants. The price dropped to retest the $0.00003056 support level.

According to the Hull Suite forex signals indicator, which shows a selling market with a bearish signal and the QQE MOD below 0 level, bulls are currently pushing up the price of Shiba Inu.

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