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Bears’ pressure is increasing in Shiba Inu market
Shiba Inu (SHIB) Price Analysis: 12 May
If sellers are successful in pushing the price below the $0.0000210 support level, SHIB may break below the $0.0000189 and $0.0000165 levels. If bulls are able to hold the $0.0000210 level, the price of the cryptocurrency may rise above it and try the resistance levels of $0.0000256 and $0.0000295.
Key Levels:
Resistance Levels: $0.0000227, $0.0000256, $0.0000295
Support Levels: $0.0000210, $0.0000189, $0.0000165
SHIBUSD
Long-term Trend: Bearish
The daily chart for Shiba Inus is negative. Buyers dominated the SHIB market a few weeks ago. At $0.00002270, the price passed the threshold. A powerful bullish candle appears to indicate that buyers are ready to enter the market every day. When the daily candle broke over a resistance level at $0.000002270 on February 7, bulls boosted the price above $0.00004399. At the resistance level of $0.0000439, sellers were against buyers. The selling persisted at the previously mentioned level, providing further ammunition for the bears. The price has been falling and continues to do so in an attempt to break below the $0.0000210 level.
As of right moment, the Hull Suite indication is less expensive than SHIB price. If sellers are successful in pushing the price below the $0.0000210 support level, SHIB may break below the $0.0000189 and $0.0000165 levels. If bulls are able to hold the $0.0000210 level, the price of the cryptocurrency may rise above it and try the resistance levels of $0.0000256 and $0.0000295.
SHIBUSD Price Medium-term Trend: Bearish
The Shiba Inu price decline is displayed on the four-hour pricing chart. Over the past two weeks, there has been a $0.0000189 decline in the amount of money that has been bought and sold or the value of the cryptocurrency. Customers continue to frequent the stores even when the prices are reduced. The price has not recovered and is rapidly approaching $0.0000210. The price can move negatively if the 4-hour candle closes below the level that was indicated before.
The Hull Suite forex indicator shows a selling market with a bearish signal, and the QQE MOD is below the zero line, suggesting that bears are currently driving down the price of Shiba Inu.
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