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Low volatility in Shiba Inu market
Shiba Inu (SHIB) Price Analysis: 31 December
Buyers may force SHIB to break up the $0.0000118 and $0.0000125 levels if they can drive the price above the $0.0000113 resistance level. If bears can hold the $0.0000113 level, the price of the cryptocurrency may go below $0.0000104 and reach the support levels of $0.0000101 and $0.0000098.
Key Levels:
Resistance Levels: $0.0000113, $0.0000118, $0.0000125
Support Levels: $0.0000104, $0.0000101, $0.0000098
SHIBUSD
Long-term Trend: Bullish
Shiba Inu daily chart shows an upward trend. Before the bulls finally overcame the bears in the last two weeks, the coin’s price fluctuated for a few days between the $0.0000098 and $0.0000083 levels. On December 5, the daily candle closed above the previous resistance level of $0.0000098, indicating that bulls rather than bears were driving the market higher. The price tested the $0.0000118 barrier last two weeks after breaking past the $0.0000098 barrier. To retest the $0.0000101 level, it withdrew. The price is currently approaching its former peak.
SHIB is currently trading above both EMAs. Buyers may force SHIB to break up the $0.0000118 and $0.0000125 levels if they can drive the price above the $0.0000113 resistance level. If bears can hold the $0.0000113 level, the price of the cryptocurrency may go below $0.0000104 and reach the support levels of $0.0000101 and $0.0000098.
SHIBUSD Price Medium-term Trend: Bullish
The 4-hour Shiba Inu pricing chart demonstrates the degree of market less volatility. The value of the currency increased by more than $0.0000113 during the past few weeks due to a greater number of purchases than sales. The price increased to $0.0000118 due to the fervor of the buyers. A combination of weak buyers and weak sellers caused the price of SHIB to dangle within $0.0000113 and $0.0000104 levels.
The price of Shiba Inu is not volatile, based on the exponential moving averages with periods of nine and twenty-one. The Relative Strength Index is showing a sell market with a bearish signal at levels of 48.
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