Shiba Inu (SHIB) Price: Will There Be a Further Price Reduction?

Buyers may defend $0.0000068 point

Shiba Inu (SHIB) Price Analysis: 28 December

If buyers can push the price above $0.0000076, it may be able to break through the resistance levels at $0.0000091 and $0.000012. However, if sellers manage to hold the price, it could fall below $0.0000068 and attempt to test the support levels at $0.0000076 and $0.0000068.

Key Levels:

Resistance Levels: $0.0000076, $0.0000091, $0.000012

Support Levels: $0.0000068, $0.0000076, $0.0000068

SHIBUSD

Long-term Trend: Bearish

A bearish reversal signal is appearing on the Shiba Inu daily chart. The SHIB market has been controlled by sellers since July 21. The price crossed above the key level at $0.000012. In the past, bearish candlestick patterns were used to indicate the strength of the selling pressure. The strong bearish sentiment caused the price to fall below $0.0000076. The price then tested the level of $0.0000068. After the price was evaluated at the appropriate support level, buying pressure returned into the trading activity. It is clear that the market is currently declining near the $0.0000068 support level. As soon as the price returns to this level, sellers take control and push it down until it breaks below $0.0000076.

The current price of SHIB matches the Hull Suite signal. If buyers can push the price above $0.0000076, it may be able to break through the resistance levels at $0.0000091 and $0.000012. However, if sellers manage to hold the price, it could fall below $0.0000068 and attempt to test the support levels at $0.0000076 and $0.0000068.

 

SHIBUSD Price Medium-term Trend: Bearish

The four-hour price drop for Shiba Inus is shown in the pricing chart. In the past week, the currency has been traded at prices lower than $0.0000091. Even with the price reduction, customers continue to visit the stores. The price first drops below the $0.0000076 level and then drops below it again. After the 4-hour candle closed below $0.0000076, the price briefly tested the $0.0000068 level.

Shiba Inu prices are currently falling due to a bearish signal on the Hull Suite FX indicator, which is pushing the market downward. Additionally, an integer that is less than zero is appearing in the QQE MOD.

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