Would buyers continue to dominate Shiba Inu market?
Shiba Inu (SHIB) Price Analysis: 12 November
If buyers can push the price above the $0.00000919 resistance level, they might compel Shiba Inu 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 of the Shiba Inu indicates a positive trend. The bulls eventually defeated the bears after a few days of little movement in the price of cryptocurrencies between the $0.00000682 support level and the $0.00000767 resistance level. The daily candle closed above the $0.00000767 resistance level on October 25, suggesting that the bulls were driving the market higher than the bears. The price broke up $0.00000843 level presently struggling to penetrate $0.00000919 level.
At the moment, SHIB is trading above both EMAs. If buyers can push the price above the $0.00000919 resistance level, 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. At Level 71, a purchase signal based on period 14’s relative strength index is displayed.
SHIBUSD Price Medium-term Trend: Bullish
The 4-hour pricing chart for Shiba Inu shows a positive state of the market. The coin’s value has increased by more than $0.00000873 over the last few days as purchases have exceeded sales. The buyers’ passion brought the price up to $0.00000919 level. SHIB price increased to $0.00000919 last week when there were more buyers than sellers. The purchasing pressure has kept the support level at $0.00000843 stable. Right now, the price is trying to penetrate the $0.00000919 level.
For Shiba Inu price, the exponential moving averages with periods of 9 and 21 exhibit significant volatility at this time. At 56, the Relative Strength Index is indicating a sell which may be a pullback.
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