Shiba Inu (SHIB) Price: Will There Be a Bullish Breakout at $0.0000113 Level?

Azeez Mustapha


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Ranging movement in SHIB market

Shiba Inu (SHIB) Price Analysis: 02 April

Buyer pressure will drive the price above the $0.0000113 resistance level, possibly testing the $0.0000118 and $0.0000125. If the cryptocurrency is able to successfully decline below $0.0000104, it may reach support levels of $0.0000098 and $0.0000091.

Key Levels:

Resistance Levels: $0.0000113, $0.0000118, $0.0000125

Support Levels: $0.0000104, $0.0000098, $0.0000091

SHBUSD Long-term Trend: Ranging

Shiba Inu is on the ranging movement in the daily chart. The Shiba Inu market did not experience any notable shift. The $0.0000113 resistance level holds and restrains further price growth. However, the price was unable to rise above the mentioned level due to the weak momentum of the purchasers. Further price declines are being resisted by the support level of $0.0000104. As a result, the price is currently fluctuating between $0.0000113 and $0.0000104.

The price is trading above and near the two EMAS as the 9-period EMA and 21-period EMA is in close proximity. Buyer pressure will drive the price above the $0.0000113 resistance level, possibly testing the $0.0000118 and $0.0000125. If the cryptocurrency is able to successfully decline below $0.0000104, it may reach support levels of $0.0000098 and $0.0000091. The period 14 signal line of the Relative Strength Index is at level 49 and indicates a buy market.

SHIBUSD Price Medium-term Trend: Ranging

Shiba Inu is ranging on the 4-hour chart. The price of the cryptocurrency is range-bound between $0.0000113 and $0.0000104. Sellers are defending the resistance level, while buyers are defending the support level. The price is currently within the level suggested two weeks ago.

Shiba Inu is near the dynamic levels, which suggests that the SHIB market may continue to move in a range. The 48 levels of the Relative Strength Index show a bearish trend.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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