Shiba Inu (SHIB) Price May Rise Above $0.0000118

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Bullish movement may continue in SHIB market

Shiba Inu (SHIB) Price Analysis: 16 April

Due to buyers’ pressure, the price will move above the $0.0000118 resistance level and may test the $0.0000125 and $0.0000138 levels. If the price of the cryptocurrency can successfully fall below $0.0000113, it may approach support levels of $0.0000104 and $0.0000098.

Key Levels:

Resistance Levels: $0.0000118, $0.0000125, $0.0000138

Support Levels: $0.0000113, $0.0000104, $0.0000098

SHBUSD Long-term Trend: Bullish

On the daily chart, Shiba Inu is on a bullish movement. The bulls prevailed over bears when the resistance level of $0.000013 was broken upside on 15 April. Last two weeks, the Shiba Inu market was ranging between $0.0000113 and $0.0000104 levels. The $0.0000113 resistance level could not hold the price when the purchasers exerted pressure. The price tested the resistance level of $0.0000118 and pulled back.

The 9-period EMA has crossed the 21-period EMA upside and the price is trading above the two EMAS. Due to buyers’ pressure, the price will move above the $0.0000118 resistance level and may test the $0.0000125 and $0.0000138 levels. If the price of the cryptocurrency can successfully fall below $0.0000113, it may approach support levels of $0.0000104 and $0.0000098. The relative index period 14 is at 60 levels pointing upside, indicating buy.

SHIBUSD Price Medium-term Trend: Bullish

Shiba Inu is bullish on the 4-hour chart. The cryptocurrency’s price was fluctuating between $0.0000113 and $0.0000104 last week. Buyers defended the mentioned support level and pushed the price upside to break up the resistance level mentioned. The price is currently heading toward the resistance level of $0.0000118.

 Shiba Inu is trading above the dynamic levels, which suggests that the SHIB market may continue to move in a bullish trend. The 62 levels of the Relative Strength Index show a bullish direction.

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