Shiba Inu (SHIB) Price May Incline to $0.0000118 Resistance Level

Buyers are ruling SHIB market

Shiba Inu (SHIB) Price Analysis: 19 March

An increase in the buyers’ pressure will increase the price above the resistance level of $0.0000113, in which the $0.0000117 and $0.0000125 may be tested. In case the cryptocurrency is able to successfully decline below $0.0000108, it might reach levels of $0.0000106 and $0.000091 support levels.

Key Levels:

Resistance Levels: $0.0000113, $0.0000117, $0.0000125

Support Levels: $0.0000108, $0.0000106, $0.0000091

SHBUSD Long-term Trend: Bearish

Shiba Inu is bearish on the daily chart. The resistance level of $0.0000138 was tested a few weeks ago. Sellers took over the market when the price reached the high of $0.0000138 resistance level. The former support level of $0.0000125, $0.0000117, and $0.0000113 turned to resistance levels. The support level of $0.0000106 was tested on 10 March. The price bounced up to retest the resistance level of $0.0000113. Since then, the price has been ranging between $0.0000113 and $0.0000108.

The 9-period EMA is below the 21-period EMA and the price is trading between the two EMAS. An increase in the buyers’ pressure will increase the price above the resistance level of $0.0000113, in which the $0.0000117 and $0.0000125 may be tested. In case the cryptocurrency is able to decline below $0.0000108 successfully, it might reach levels of $0.0000106 and $0.000091 support levels. The period 14 signal line for the Relative Strength Index is heading upward at level 45, indicating a buy.

SHIBUSD Price Medium-term Trend: Bullish

Shiba Inu is bullish on the 4-hour chart. The cryptocurrency tested the support level of $0.00000986 on 10 March. The just mentioned level was defended by the bulls with the formation of a pin bar. The price increased toward the $0.0000118 resistance level and pulled back. Currently, it is trading within $0.0000113 and $0.0000108 levels.

Shiba Inu is trading between the dynamic support levels, indicating a bullish movement. The Relative Strength Index is leaning upward at 53, signaling a buy.

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