Shiba Inu (SHIB) Price: Further Price Reduction Envisaged

Sellers’ pressure is increasing

Shiba Inu (SHIB) Price Analysis: 21 December

If buyers can push the price above $0.0000082, it may be able to break through the resistance levels at $0.0000091 and $0.000012. However, if sellers manage to hold the price, it could fall below $0.0000079 and attempt to test the support levels at $0.0000076 and $0.0000068.

Key Levels:

Resistance Levels: $0.0000082, $0.0000091, $0.000012

Support Levels: $0.0000079, $0.0000076, $0.0000068

SHIBUSD

Long-term Trend: Bearish

A bearish reversal signal is visible on the Shiba Inu daily chart. The SHIB market has been dominated by sellers since July 21. The price moved above the key level at $0.000012. In the past, bearish candlestick patterns were used to predict the strength of the selling pressure. The strong bearish sentiment pushed the price down below $0.0000091. The price tested the level of $0.0000082. After the price was reviewed at the appropriate support level, buying pressure was included in the trading activity. It is evident that the market is currently falling near the $0.0000079 support level. As soon as the price reaches the starting point, sellers take control and push it down until it breaks below $0.0000079.

The current price of SHIB aligns with the Hull Suite signal. If buyers can push the price above $0.0000082, it may be able to break through the resistance levels at $0.0000091 and $0.000012. However, if sellers manage to hold the price, it could fall below $0.0000079 and attempt to test the support levels at $0.0000076 and $0.0000068.

 

SHIBUSD Price Medium-term Trend: Bearish

The four-hour price drop for Shiba Inus is shown in the pricing chart. In the past week, the currency has been traded at prices lower than $0.0000091. Even with the price reduction, customers continue to visit the stores. The price initially drops below the $0.0000082 level and then drops below it again. After the 4-hour candle closed below $0.0000079, the price briefly tested the $0.0000082 level.

Shiba Inu prices are currently falling due to a bearish signal on the Hull Suite FX indicator, which is pushing the market downward. Additionally, an integer that is less than zero is appearing in the QQE MOD.

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