Shiba Inu Price Analysis: SHIB At a Critical Decision Point Following 10% Daily Surge

Key Support level: $0.000030

Key Resistance Level: : 0.000034

The price action intensified after SHIB reached the $0.000030 support level. In a clear bullish move, the cryptocurrency jumped above the descending wedge (in red) in an obvious bullish move that we predicted in our last SHIB analysis. The price is now just below the $0.000034 key resistance. SHIB’s next move will be decisive.

Chart by TradingView

Technical Indicators

Trading Volume: Volume surged on the move higher, but then quickly slowed as SHIB reached resistance. It’s now at an important moment that will decide its future direction.

RSI: On a daily basis, the RSI is increasing. If the bulls are able to break the key resistance, it will likely lead to a rally.

MACD: The MACD daily has made a bullish crossover after a month and half. This is great news for buyers. If SHIB is able to sustain this positive momentum, the price will certainly reflect that.

Chart by TradingView

Bias

SHIB’s bias is becoming bullish. To confirm, however, the price must break the $0.000034 key resistance.

SHIB Price Predictions for the Short-Term

After reaching the $0.000030 support level, SHIB has a chance to rally higher. The key challenge for cryptocurrency is to move beyond the $0.000034 resistance.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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