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Sellers’ momentum may increase in Shiba Inu market
Shiba Inu (SHIB) Price Analysis: 14 January
If sellers can push the price below the $0.000009 support level, they might compel Shiba Inu to break down the $0.000008 and $0.000007 levels. The price of the cryptocurrency may rise above $0.000010 and hit the resistance levels of $0.000008 and $0.000007 if bulls can hold the $0.000009 level.
Key Levels:
Resistance Levels: $0.000010, $0.000011, $0.000012
Support Levels: $0.000009, $0.000008, $0.000007
SHIBUSD
Long-term Trend: Bearish
Shiba Inu daily chart is trending lower. Two weeks ago, buyers ruled the SHIB market. The price surged to $0.000011 barrier level. A robust daily bearish candle emerged, suggesting that sellers are prepared to enter the market. The daily candle fell below the prior support level of $0.000009 on January 3, a sign that bears were pushing the market lower instead of bulls.
At the moment, SHIB is trading below the Hull Suite indicator. If sellers can push the price below the $0.000009 support level, they might compel SHIB to break down the $0.000008 and $0.000007 levels. The price of the cryptocurrency may rise above $0.000010 and hit the resistance levels of $0.000008 and $0.000007 if bulls can hold the $0.000009 level.
SHIBUSD Price Medium-term Trend: Bearish
The 4-hour Shiba Inu pricing chart indicates the degree of significant negative movement. The value of the currency declined less than $0.000010 throughout the past few weeks due to a greater number of sales than purchases. The price plummeted to $0.000095 due to the fervor of the sellers. The price may drop as the sellers’ momentum picks up.
Based on the Hull Suite indicator, which shows a sell market with a bearish signal and the QQE MOD below zero level, the price of Shiba Inu is under pressure from bears.
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