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Bears hold on to Shiba Inu market
Shiba Inu (SHIB) Price Analysis: 02 June
SHIB may break below the $0.0000164 and $0.0000115 levels if sellers are successful in driving the price below the $0.0000210 support level. The price of the cryptocurrency can increase over $0.0000283 and attempt to test the resistance levels of $0.0000324 and $0.0000387 if bears are successful in holding it.
Key Levels:
Resistance Levels: $0.0000283, $0.0000324, $0.0000387
Support Levels: $0.0000210, $0.0000164, $0.0000115
SHIBUSD
Long-term Trend: Bearish
Shiba Inu’s daily chart is negative. A few weeks ago, buyers dominated the SHIB market. At $0.00002270, the price passed the threshold. A strong bullish candle seems to indicate that buyers are prepared to enter the market every day. On February 7, bulls drove the price above $0.00004399 as the daily candle broke over a resistance level at $0.000002270. At the resistance level of $0.0000439, sellers were battling against buyers. The selling continued at the previously mentioned level, giving the bears more ammunition. The price is currently declining in an effort to break below the $0.0000210 barrier.
The Hull Suite indicator’s price is currently more than the SHIB price. SHIB may break below the $0.0000164 and $0.0000115 levels if sellers are successful in driving the price below the $0.0000210 support level. The price of the cryptocurrency can increase over $0.0000283 and attempt to test the resistance levels of $0.0000324 and $0.0000387 if bears are successful in holding it.
SHIBUSD Price Medium-term Trend: Bearish
The four-hour pricing chart illustrates the decrease in Shiba Inu values. The quantity of money that has been bought and sold, or the value of the cryptocurrency, has decreased below $0.0000283 within the last two weeks. Despite the lower prices, customers still visit the stores regularly. The price is getting closer to $0.0000164 quickly and has not recovered. If the 4-hour candle closes below the previously advised level, the price may drop.
Shiba Inu prices are currently being driven lower by bears, as indicated by the Hull Suite forex indicator, which displays a selling market with a bearish signal. Additionally, the QQE MOD is below the zero line.
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