Shiba Inu Price Analysis: SHIB Pulls Back After ATH, But What’s The Next Target?

Key Support level: $0.000060

Key resistance level: $0.0001

Shiba has doubled in value since our last Shiba-Inu (SHIB), analysis. Current record high is $0.00008854

The break by Shiba from the blue pennant, as presented in our last analysis, unleashed a significant rally that has set an all-time high. Despite a brief pullback to support SHIB seems ready for more! At $0.0001, the most prominent resistance is right now.

Shiba could lose another 0 to reach its goal of 1 cent. This is the goal for most fans. The support currently stands at $0.000060 and was successfully tested today.

Chart by TradingView

Technical Indicators for SHIB Price

Volume of Trading: The volume continues to rise and helps to maintain the price at extremely high levels. Volume reflects the strong hype surrounding Shiba. The resistance at $0.0001 is going to be difficult to overcome.

RSI: A strong bullish trend is a sign that there’s a reversal in the market. The RSI should be above 90 points. It’s important that you pay attention to the daily RSI of Shiba, which is higher than 90 points. The last daily candle appears to be spinning, which could indicate a reversal signal.

MACD: MACD is very bullish in the daily timeframe. On lower timeframes where weaknesses tend to show themselves earlier, Shiba has shown lower highs on the MACD histogram for 4 hours. These levels may be consolidated around Shiba, creating a pennant that could lead to a possible attempt at $0.0001.

Chart by TradingView

Bias

Extreme euphoria. This is usually a sign that a top could be soon. Shiba may still rise before a reversal.

SHIB Price Predictions for the Short-Term

$0.0001 is the key level that everyone should be paying attention to. Is Shiba able to break this resistance? If so, it could launch another major rally before any reversal. Many bulls may see this as an opportunity to profit, since $0.0001 is a psychological level that is important in the Shiba community. This can result in a rejection of resistance and a substantial drop towards support.

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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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