Shiba Inu (SHIB) is currently trading at the bottom of the chart after falling to a new low of $0.00001008.
SHIB price long-term prediction: bearish
The downtrend has broken the current support at $0.00001200 as the altcoin bounces between the support at $0.00001000 and below the moving average lines. The cryptocurrency is expected to fall further and reach a low of $0.00000800.
SHIB’s uptrend will begin when the price breaks above the moving average lines. At the time of writing, the altcoin is at $0.00001155.
Technical indicators
Key Resistance levels: $0.00002800, $0.00002900, $0.00003000
Key Support levels: $0.00002200, $0.00002000, $0.00001900
SHIB price indicators analysis
The altcoin broke below the current support at $0.00001000 after being rejected at the 21-day SMA barrier. The price is falling as the price bars are below the downward sloping moving average lines. The altcoin is currently in a rangebound trend as doji candlesticks are currently used as a symbol for the price of the cryptocurrency.
What is the next move for SHIB?
The price of SHIB has fallen below the current support level of $0.00001200, continuing its downtrend. SHIB is currently trading below the resistance at $0.00001200 and above the support at $0.00001000.
The resistance at $0.00001200 and the moving average lines have slowed the upward trend. The dangers for the altcoin are diminishing as it is rejected at the recent high.
On June 18 Coinidol.com reported that the price of Shiba Inuhas been gradually declining since falling below the current support of $0.00001200.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
Source: https://coinidol.com/shiba-inu-falls-further/