SHIB Price Turn Bullish; What Next?

Shiba Inu price forecast demonstrates the bullish momentum in the price. The SHIB price already broke above the key moving averages showcasing bullishness on the daily chart.

Shiba Inu crypto experienced an increase of 9.04% in a week and an incline of 3.78% over a month. In the past three months, SHIB crypto was up about 16.49%, while it has grown around 15.40% over the last six months. Furthermore, the crypto’s performance throughout the year has been not good, with a year-to-date slump of approximately 4.35%.

At press time, the Shiba Inu price was trading at $0.00000988, with an intraday gain of 1.23%, showing bullishness on the charts. Additionally, the 24-hour trading volume is 200.33 Million. The market cap stood at $5.83 Billion. Moreover, the technicals on TradingView are giving a bullish signal. The majority of the indicators are signaling the bullishness in the price.

Technical Analysis of Shiba Inu Crypto Price in 1-D Timeframe

Shiba Inu ( USD: SHIB) has seen its crypto price rise steadily for the past three months, gaining 16%. At the time of writing, SHIB crypto is trading with bullish momentum, heading towards the upper resistance band.

If it can sustain these levels, the SHIB price could continue to go up and reach the first and second targets of $0.00001100 and $0.00001194. However, if the SHIB price cannot sustain this level and falls, then it might hit the nearest support levels of $0.000000939 and $0.00000904.

At the time of writing, Shiba Inu crypto (USD: SHIB) is trading below the 50 and 200-Day exponential moving averages (EMAs), which are supporting the bullish price trend.

The current value of RSI is 63.34 points. The 14 SMA is above the median line at 51.07 points which signals that the SHIB crypto is bullish.

The MACD line at 0.00000009 and the signal line at -0.00000003 are above the zero line. A bullish crossover is observed in the MACD indicator which signals more bullishness for the SHIB crypto price.

Summary

Shiba Inu (USD: SHIB) technical oscillators and indicators indicate a bullish momentum. The MACD, RSI, and EMAs are giving bullish signals and suggest that the positive trend may continue in the SHIB price in the coming sessions. The crypto is up 9.04% through the week and 3.78% over the month.

Technical Levels

Support Levels: $0.000000939 and $0.00000904

Resistance Levels: $0.00001100 and $0.00001194

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.

Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.