Shiba Inu (SHIB) Price May Decline to $0.0000097 Support Level

Sellers are ruling SHIB market

Shiba Inu (SHIB) Price Analysis: 05 March

In case the cryptocurrency is able to successfully decline below $0.0000097, it might reach levels of $0.0000073 and $0.0000054 support levels. SHIB may rise to the resistance levels of $0.000013, $0.000015, and $0.000016 if the $0.0000097 support level holds.

Key Levels:

Resistance Levels: $0.000013, $0.000015, $0.000016

Support Levels: $0.0000097, $0.0000073, $0.0000054

SHBUSD Long-term Trend: Bearish

Shiba Inu is bearish on the daily chart. The cost ranged between $0.0000073 and $0.0000097 last December. On 13 January, the coin increased to a high of $0.000015 after breaking up $0.0000097 and $0.000013 levels. The sellers argued in favor of the indicated level. The prior support level of $0.000013 was breached downside. The price penetrates the dynamic support levels downside and it is currently heading toward $0.0000097 support level.

The 9-period and 21-period EMAs are above the price of Shiba Inu. In case the cryptocurrency is able to successfully decline below $0.0000097, it might reach levels of $0.0000073 and $0.0000054 support levels. The price may rise to the resistance levels of $0.000013, $0.000015, and $0.000016 if the $0.0000097 support level holds. The period 14 signal line for the Relative Strength Index is heading downward at level 37, indicating a sell.

SHIBUSD Price Medium-term Trend: Bearish

Shiba Inu is bearish on the 4-hour chart. The cryptocurrency bounced up from the support level of $0.0000073 on 13 January. That was a bullish breakout from the ranging movement. The $0.0000097 resistance level was broken upside and the price increased to the resistance level of $0.000015 on 04 February. Sellers defended the just-mentioned level and the price is declining at the moment.

Shiba Inu is trading below the dynamic support levels, indicating a bearish movement. The Relative Strength Index is leaning downward at 33, signaling a sell.

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