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Low Volatility in Shiba Inu market
Shiba Inu (SHIB) Price Analysis: 19 November
Buyers may force Shiba-Inu to break up the $0.00000985 and $0.0000113 levels if they can drive the price over the resistance level of $0.00000919. If bears can hold the $0.00000919 level, the price of the cryptocurrency may go below $0.00000843 and approach the support levels of $0.00000767 and $0.00000682.
Key Levels:
Resistance Levels: $0.00000919, $0.00000985, $0.0000113
Support Levels: $0.00000843, $0.00000767, $0.00000682
SHIBUSD
Long-term Trend: Bullish
The Shiba Inu’s daily chart shows an upward trend. After a few days of little movement in the cryptocurrency price between the $0.00000682 support level and the $0.00000767 resistance level, the bulls eventually overcame the bears. It appears that bulls were pushing the market higher than bearish on October 25, as the daily candle ended above the $0.00000767 resistance level. The price broke through the $0.00000843 level and is currently having difficulty breaking through the $0.00000919 level.
SHIB is currently trading within both EMAs. Buyers may force SHIB to break up the $0.00000985 and $0.0000113 levels if they can drive the price over the resistance level of $0.00000919. If bears can hold the $0.00000919 level, the price of the cryptocurrency may go below $0.00000843 and approach the support levels of $0.00000767 and $0.00000682.
SHIBUSD Price Medium-term Trend: Ranging
The 4-hour pricing chart for Shiba Inu shows a ranging trend of the market. Purchases have outpaced sales over the past three days, resulting in a more than $0.00000873 gain in the value of the currency. With the fervor of the buyers, the price reached $0.00000919. When there were weak buyers and weak sellers last week, the price of SHIB moved within $0.00000919 and $0.00000843 levels. The price is currently ranging within the just mentioned levels.
The exponential moving averages for the price of Shiba Inus with periods of 9 and 21 show less volatility at the moment. The Relative Strength Index is showing neutral signal at 47 levels, meaning a low volatile market.
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