Shiba Inu (SHIB) Price: Sellers Are Defending $0.0000104 Level

Low volatility in Shiba Inu market

Shiba Inu (SHIB) Price Analysis: 10 December

If buyers can push the price over the resistance level of $0.0000104, they might compel SHIB to break up the $0.0000113 and $0.0000118 levels. The price of the cryptocurrency may drop below $0.0000101 and reach the support levels of $0.0000098 and $0.0000083 if bears are successful in holding the $0.0000104 level

Key Levels:

Resistance Levels: $0.0000104, $0.0000113, $0.0000118

Support Levels: $0.0000101, $0.0000098, $0.0000083

SHIBUSD

Long-term Trend: Bullish

The daily chart for Shiba Inu indicates an upward trend. The bulls eventually defeated the bears after a few days of little movement in the coin’s price between the $0.0000098 and $0.0000083 levels. The daily candle closed above the former resistance level of $0.0000098 on December 05, suggesting that bulls were pushing the market upward rather than bears. After passing over the $0.0000098 barrier, the price tested the $0.0000101 barrier. It pulled back, attempting the $0.0000098 mark. Bulls are currently gaining traction and the price is rising testing $0.0000104.

At present, SHIB is trading above both EMAs. If buyers can push the price over the resistance level of $0.0000104, they might compel SHIB to break up the $0.0000113 and $0.0000118 levels. The price of the cryptocurrency may drop below $0.0000101 and reach the support levels of $0.0000098 and $0.0000083 if bears are successful in holding the $0.0000104 level.

SHIBUSD Price Medium-term Trend: Bullish

The Shiba Inu 4-hour pricing chart illustrates how volatile the market is. Because of higher purchases than sales, the value of the currency has climbed by more than $0.0000101 in the last week. The buyers’ zeal caused the price to rise to $0.0000104. Last week, the price of SHIB fluctuated between $0.0000101 and $0.0000098 due to weak buyers and sellers. As of right now, the price is fluctuating between the levels stated earlier.

 

The price of Shiba Inu is currently less volatile, according to the exponential moving averages with periods of 9 and 21. At 58 levels, the Relative Strength Index indicates a buy market with a positive signal.

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