Sellers’ momentum is increasing in Shiba Inu market
Shiba Inu (SHIB) Price Analysis: 05 May
SHIB may break below the $0.0000210 and $0.0000189 levels if sellers are successful in driving the price below the $0.0000227 support level. The price of the cryptocurrency may increase above $0.0000256 and test the resistance levels of $0.0000295 and $0.0000331 if bulls can hold the $0.0000256 level.
Key Levels:
Resistance Levels: $0.0000256, $0.0000295, $0.0000331
Support Levels: $0.0000227, $0.0000210, $0.0000189
SHIBUSD
Long-term Trend: Bearish
For Shiba Inu, the daily chart is negative. A few weeks ago, the SHIB market was controlled by buyers. The price crossed the threshold at $0.00002270. Every day, a strong bullish candle seems to suggest that buyers are prepared to enter the market. On February 07, bulls, drove the price above $0.00004399 when the daily candle broke above a resistance level at $0.000002270. Sellers opposed buyers at $0.0000439 resistance level. The selling continued at the previously indicated level, giving the bears additional ammo. The price started to decline and is currently declining to surpass $0.0000227 level.
Right now, the SHIB pricing is greater than the Hull Suite indicator. SHIB may break below the $0.0000210 and $0.0000189 levels if sellers are successful in driving the price below the $0.0000227 support level. The price of the cryptocurrency may increase above $0.0000256 and test the resistance levels of $0.0000295 and $0.0000331 if bulls can hold the $0.0000256 level.
SHIBUSD Price Medium-term Trend: Bearish
The four-hour pricing chart shows the Shiba Inu price declination. The amount of money that has been bought and sold during the last two weeks has decreased by $0.00001889, or the value of the cryptocurrency. Even when the prices are lower, customers still visit the stores. The price is currently getting close to $0.0000227 and has not recovered. If the 4-hour candle closes below the previously mentioned level, the price may continue to move negatively.
A selling market with a bearish signal is displayed by the Hull Suite forex signals indicator, and the QQE MOD is below the zero line, indicating that bears are currently driving down the price of Shiba Inu.
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