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Bears’ pressure holds in Shiba Inu market
Shiba Inu (SHIB) Price Analysis: 19 May
SHIB may break below the $0.0000210 and $0.0000189 levels if sellers are successful in driving the price below the $0.0000227 support level. The price of the cryptocurrency may surge over the $0.0000256 level and attempt to test the resistance levels of $0.0000277 and $0.0000295 if bulls are successful in holding it.
Key Levels:
Resistance Levels: $0.0000256, $0.0000277, $0.0000295
Support Levels: $0.0000227, $0.0000210, $0.0000189
SHIBUSD
Long-term Trend: Bearish
For Shiba Inu, the daily chart is negative. A few weeks ago, the SHIB market was controlled by buyers. The price crossed the threshold at $0.00002270. Every day, a strong bullish candle seems to suggest that buyers are prepared to enter the market. On February 7, bulls drove the price above $0.00004399 as the daily candle broke above a resistance level at $0.000002270. At the $0.0000439 resistance level, sellers were opposing buyers. The selling continued at the previously indicated level, giving the bears more ammunition. Price has been declining and is still declining in an effort to go below the $0.0000227 barrier.
The Hull Suite indication is now less expensive than the SHIB price. SHIB may break below the $0.0000210 and $0.0000189 levels if sellers are successful in driving the price below the $0.0000227 support level. The price of the cryptocurrency may surge over the $0.0000256 level and attempt to test the resistance levels of $0.0000277 and $0.0000295 if bulls are successful in holding it.
SHIBUSD Price Medium-term Trend: Bearish
The four-hour pricing chart shows the decrease in Shiba Inu prices. The quantity of money that has been bought and sold, or the value of the cryptocurrency, has decreased by $0.0000189 within the last two weeks. Even with lower costs, customers still visit the stores frequently. The price is getting closer to $0.0000210 quickly and has not recovered. If the 4-hour candle closes below the previously suggested level, the price may move negatively.
The QQE MOD is below the zero line and the Hull Suite forex Signal indicator indicates a selling market with a bearish signal, indicating that bears are presently pushing down the price of Shiba Inu.
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