Shiba Inu (SHIB) Price May Break Down $0.0000210 Level

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.

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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.

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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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