Shiba Inu (SHIB) Price: Could It Be a Pullback or Bearish Reversal?

Shiba Inu retests $0.00002271 level

Shiba Inu (SHIB) Price Analysis: 07 April

If sellers can push the price below the $0.00002271 support level, they might cause SHIB to break below the $0.00002107 and $0.00001899 levels. The price of the cryptocurrency may rise above $0.00002969 and test the resistance levels of $0.00003318 and $0.00003670 if bulls can hold the $0.00002271 level.

Key Levels:

Resistance Levels: $0.00002969, $0.00003318, $0.00003670

Support Levels: $0.00002271, $0.00002107, $0.00001899

SHIBUSD

Long-term Trend: Bearish

Shiba Inus’s daily chart is declining. The SHIB market was controlled by buyers a few weeks ago. The price crossed the threshold at $0.00002271. Every day, a strong bullish candle seems to suggest that buyers are prepared to enter the market. Bulls, not bears, were pushing the price above $0.000003958 on February 07, when the daily candle broke above a resistance level at $0.000002265. After that, it pulled back, and it is now falling to pass $0.00002271 level.

At the moment, SHIB is trading below the Hull Suite forex signals. If sellers can push the price below the $0.00002271 support level, they might cause SHIB to break below the $0.00002107 and $0.00001899 levels. The price of the cryptocurrency may rise above $0.00002969 and test the resistance levels of $0.00003318 and $0.00003670 if bulls can hold the $0.00002271 level.

SHIBUSD Price Medium-term Trend: Bearish

Price retracement for the Shiba Inus may be seen on the four-hour pricing chart. The last two weeks have seen a rise in the value of the cryptocurrency of about $0.00003670 as a result of more purchases than sells. Even if they were pleased with the price increase, customers continue to take advantage of the shops. The price dropped to retest the $0.00002271 support level.

Based on the Hull Suite forex indicator, which shows a selling market with a bearish signal and the QQE MOD below the 0 level, bears are currently pushing down the price of Shiba Inu.

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