Shiba Inu (SHIB) Price May Test $0.00000682 Support Level

SHIB is breaking down $0.00000739 level

Shiba Inu (SHIB) Price Analysis: 10 September

When the price breaks through the $0.00000739 support level, sellers may test the $0.00000682 and $0.00000594 levels if they remain enthusiastic. If bulls are successful in holding the $0.00000739 level, the price of the cryptocurrency may rise past $0.00000838 and reach the resistance levels of $0.00000919 and $0.00000594.

Key Levels:

Resistance Levels: $0.00000739, $0.00000838, $0.00000919

Support Levels: $0.00000682, $0.00000594, $0.00000500

SHIBUSD Long-term Trend: Bearish

Shiba Inu is bearish on the daily chart. On September 04, the $0.00000739 support level was examined, and currently penetrated. Last month, the price of SHIB increased when bulls were in charge of the market.  The support levels of $0.00000594 and $0.00000682 on the brief “W” chart pattern signaled the start of a bullish trend. The resistance level of $0.00001134 was tried after the preceding resistance level was broken upward. Sellers defended the aforementioned level. At the same price level, an inverted pin bar that marked the start of a bearish trend was created. On August 22, the $0.00000739 support level was examined and penetrated.

SHIB is trading below the two EMAs after the 9-period EMA crossed below the 21-period EMA. When the price breaks through the $0.00000739 support level, sellers may test the $0.00000682 and $0.00000594 levels if they remain enthusiastic. If bulls are successful in holding the $0.00000739 level, the price of the Shiba Inu may rise past $0.00000838 and reach the resistance levels of $0.00000919 and $0.00000594. A sell signal is provided by the period 14 relative strength index at level 33.

SHIBUSD Price Medium-term Trend: Bearish

The 4-hour chart for Shiba Inu shows a downward trend. As selling outnumbered buying over the past three weeks, the coin’s value reduced to $0.00000731. The eagerness of the sellers caused the price to fall to the predetermined level. Last week, at the mentioned level, buyers opposed sellers, SHIB price pulled back. Today, a support level of $0.00000739 is breached by sellers.  The price is currently facing $0.00000682.

Shiba Inu is trading below the 9- and 21-period exponential moving averages indicating a bearish market. The Relative Strength Index’s 37 levels signal a sell.

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