Shiba Inu may decrease further
Shiba Inu (SHIB) Price Analysis: 20 August
Shiba Inu is trying to breach the $0.00000739 support level and may test the $0.00000682 and $0.00000594 levels if sellers maintain their zeal. The price of the cryptocurrency may increase above $0.00000838 and approach the resistance levels of $0.00000919 and $0.0000095 if bulls are successful in holding the $0.00000739 level.
Key Levels:
Resistance Levels: $0.00000838, $0.00000919, $0.0000095
Support Levels: $0.00000739, $0.00000682, $0.00000594
SHIBUSD Long-term Trend: Bearish
Shiba Inu is bearish on the daily chart. The coin was under the control of bulls last two weeks, there was an increase in the SHIB price. A short “W” chart pattern triggered a bullish trend at the $0.00000594 and $0.00000682 levels of support. The earlier resistance level was broken upward and the resistance level of $0.00001134 was tested. Sellers defended the just-mentioned level. An inverted pin bar was created at the same level and a bearish trend commenced. The support level of $0.00000739 was tested last week.
The 9-period EMA crossed below the 21-period EMA, SHIB is trading below the two EMAs. Price is trying to breach the $0.00000739 support level and may test the $0.00000682 and $0.00000594 levels if sellers maintain their zeal. The cost of the cryptocurrency may increase above $0.00000838 and approach the resistance levels of $0.00000919 and $0.0000095 if bulls are successful in holding the $0.00000739 level. The relative strength index period 14 at level 43 gives a sell signal.
SHIBUSD Price Medium-term Trend: Bearish
Shiba Inu’s 4-hour chart reveals a falling trend. The coin increased to $0.00001134 during the last three weeks since purchasing outnumbered selling. SHIB reached the just-mentioned level because of the enthusiasm of the buyers. Sellers broke down the support level of $0.00000919 and $0.00000838. Right now, the price is retesting $0.00000739 level.
Shiba Inu is currently trading below the 9- and 21-period exponential moving averages indicating bearish market. The 35 levels of the Relative Strength Index indicate a buy, which may be a pullback.
You can purchase Lucky Block here. Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.