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Bears are gaining strength in Shiba Inu market
Shiba Inu (SHIB) Price Analysis: 26 November
If buyers can push the price over the resistance level of $0.00000919, they might compel SHIB to break up the $0.00000985 and $0.0000113 levels. The price of the cryptocurrency may drop below $0.00000843 and reach the support levels of $0.00000767 and $0.00000682 if bears are successful in holding the $0.00000919 level.
Key Levels:
Resistance Levels: $0.00000919, $0.00000985, $0.0000113
Support Levels: $0.00000843, $0.00000767, $0.00000682
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 price of the coin between the $0.00000682 support level and the $0.00000767 resistance level. The daily candle ended above the $0.00000767 resistance level on October 25, suggesting that bulls were pushing the market higher rather than bears. The price has breached the $0.00000843 barrier and tested the $0.00000985 barrier. It pulled back and tested the $0.00000767 level. Bulls are currently gaining momentum and the price is increasing.
At the moment, SHIB is trading inside both EMAs. If buyers can push the price over the resistance level of $0.00000919, they might compel SHIB to break up the $0.00000985 and $0.0000113 levels. The price of the cryptocurrency may drop below $0.00000843 and reach the support levels of $0.00000767 and $0.00000682 if bears are successful in holding the $0.00000919 level.
SHIBUSD Price Medium-term Trend: Ranging
The Shiba Inu 4-hour pricing chart displays the market’s fluctuating tendency. Over the last week, purchases have surpassed sales, which has caused the value of the currency to increase by more than $0.00000843. The buyers’ zeal caused the price to rise to $0.00000985. Last week, when there were weak sellers and weak purchasers, the price of SHIB fluctuated between $0.00000843 and $0.00000919. Right now, the price is fluctuating between the previously specified ranges.
There is currently less volatility in the price of Shiba Inus according to the exponential moving averages with periods of 9 and 21. At 47 levels, the Relative Strength Index is displaying a bearish signal, indicating a sell market.
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