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Bears’ pressure may increase in Shiba Inu market
Shiba Inu (SHIB) Price Analysis: 31 March
Sellers may force SHIB to break below the $0.00002271 and $0.00002107 levels if they can drive the price below the support level at $0.00002969. If bulls are able to hold the $0.00002969 level, the price of the cryptocurrency may go above $0.00003318 and reach the resistance levels of $0.00003670 and $0.00003958.
Key Levels:
Resistance Levels: $0.00003318, $0.00003670, $0.00003958
Support Levels: $0.00002969, $0.00002271, $0.00002107
SHIBUSD
Long-term Trend: Bearish
The daily chart for Shiba Inus is falling. A few weeks ago, buyers dominated the SHIB market. At $0.00002271, the price passed the threshold. A powerful bullish candle appears to indicate that buyers are ready to enter the market every day. On February 07, the daily candle broke over a resistance level at $0.000002265, indicating that bulls, not bears, were driving the price above $0.000003958. It then retreated, and it is currently decreasing in an attempt to cross $0.00002969.
SHIB is currently trading lower below the Hull Suite signal. Sellers may force SHIB to break below the $0.00002271 and $0.00002107 levels if they can drive the price below the support level at $0.00002969. If bulls are able to hold the $0.00002969 level, the price of the cryptocurrency may go above $0.00003318 and reach the resistance levels of $0.00003670 and $0.00003958.
SHIBUSD Price Medium-term Trend: Bearish
Shiba Inus price retracement is shown on the four-hour pricing chart. The value of the cryptocurrency has increased by approximately $0.00003670 during the past two weeks due to a greater number of purchases than sales. Customers were happy with the price hike, yet they still take advantage of the retailers. To retest the $0.00002969 support level, the price declined.
Bears are currently driving down the price of Shiba Inu, based on the Hull Suite forex indicator, which displays a selling market with a bearish signal and the QQE MOD below the 0 level.
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