The price of Shiba Inu (SHIB) has surpassed the moving average lines, indicating a recovery from its recent low. The long-term forecast for SHIB is bullish, but it faces resistance at $0.00002000. If this resistance is overcome, SHIB has the potential to reach $0.00002600. On the other hand, if the bulls fail to break the first hurdle, SHIB will continue its sideways movement. The current price of SHIB is $0.00001935. The price bars have risen above the moving average lines, but with a sideways trend indicated by the horizontal moving average lines. Doji candles suggest indecisiveness in price movement. Key resistance levels for SHIB are $0.00001200, $0.00001300, and $0.00001400, while key support levels are $0.00000600, $0.00000550, and $0.00000450. SHIB has been fluctuating above the support of $0.00001650 and below the resistance of $0.00001950. This sideways movement will likely continue as SHIB remains below its recent high. This analysis is a personal opinion and not a recommendation to buy or sell SHIB.
- Content Editor ( coinidol.com )
- 2024-11-06
Shiba Inu Recovers But Faces The $0.00001950 Barrier