Shiba Inu (SHIB) Price Is Under Bullish Momentum

Bullish trend may continue after a pullback

Shiba Inu (SHIB) Price Analysis: 18 January

The price may be able to overcome the resistance levels of $0.0000104 and $0.0000118 if buyers can drive it above $0.00000920. Sellers can try to challenge the support levels of $0.0000076 and $0.0000068 if they are successful in holding the price below $0.00000839.

Key Levels:

Resistance Levels: $0.00000920, $0.0000104, $0.0000118

Support Levels: $0.00000839, $0.0000076, $0.0000068

SHIBUSD

Long-term Trend: Bullish

The Shiba Inu daily chart shows a glimpse of a bullish reversal. Since July 21, sellers have dominated the SHIB market. On Wednesday, the 31st, the price hit its lowest point of $0.0000076. The degree of purchasing pressure was formerly indicated by a bullish engulfing candlestick pattern. The price moved above $0.0000083 due to the strong pessimistic attitude. The $0.0000068 level was then tested by the price. Buying pressure restored to the trading activity once the price was assessed at the proper support level. At the $0.0000076 barrier level, it is evident that the market is now rising. When the price reaches this level again, buyers seize control and drive it up until it surpasses $0.0000839.

The Hull Suite indication is in line with SHIB’s current pricing. The price may be able to overcome the resistance levels of $0.0000104 and $0.0000118 if buyers can drive it above $0.00000920. Sellers can try to challenge the support levels of $0.0000076 and $0.0000068 if they are successful in holding the price below $0.00000839.

SHIBUSD Price Medium-term Trend: Bullish

The pricing chart displays the four-hour price increase for Shiba Inus. The currency has been traded for less than $0.0000076 throughout the last month. Customers still frequent the stores in spite of the price cut. The price first rises above the $0.0000076 threshold before breaking through other resistance levels. The price momentarily tested the $0.0000092 barrier after the 4-hour candle closed above $0.00000839.

Due to a positive signal on the Hull Suite FX indicator, which is driving the market higher, Shiba Inu prices are currently rising. Furthermore, the QQE MOD contains an integer larger than zero.

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