Shiba Inu (SHIB) Price Is Under Bears’ Control

Price may reduce further

Shiba Inu (SHIB) Price Analysis: 01 February

The price may be able to overcome the resistance levels of $0.0000075 and $0.0000091 if buyers can push it above $0.0000066. Sellers may try to assault the support levels of $0.0000059 and $0.0000045 if they are successful in holding the price below $0.0000068.

Key Levels:

esistance Levels: $0.0000066, $0.0000075, $0.0000091

Support Levels: $0.0000068, $0.0000059, $0.0000045

SHIBUSD

Long-term Trend: Bearish

The Shiba Inu daily chart shows a glimpse of a bearish turnaround. Since July 21, buyers have dominated the SHIB market. On Monday, the 5th, the price hit its peak of $0.000010. The degree of selling pressure is indicated by a bearish engulfing candlestick pattern. The price dropped below $0.0000075 because to the excessive pessimism. The $0.0000068 mark was then checked by the price. Selling pressure returned to the trading activity once the price was assessed at the proper resistance level. At the $0.0000075 barrier level, it is evident that the market is now dropping. Sellers take control and drive the price down till it tests $0.0000068 when it reaches this level again.

The Hull Suite indicator aligns with SHIB’s existing pricing. The price may be able to overcome the resistance levels of $0.0000075 and $0.0000091 if buyers can push it above $0.0000066. Sellers may try to assault the support levels of $0.0000059 and $0.0000045 if they are successful in holding the price below $0.0000068.

The pricing chart displays the Shiba Inus price decline during a four-hour period. The currency has been traded for less than $0.0000075 throughout the last month. Customers still frequent the stores in spite of the price cut. The price first tested below the $0.0000076 threshold before surpassing other support levels. The price momentarily tested the $0.0000068 barrier when the 4-hour candle closed at the previously indicated level.

Due to a bearish signal on the Hull Suite FX indicator, which is driving the market lower, Shiba Inu prices are currently falling. Additionally, the QQE MOD contains an integer that is less than zero.

Start using a world-class auto trading solution

You can purchase Lucky Block here.  Buy LBLOCK