Crypto

Shiba Inu Price Prediction: SHIB Crypto Gained 62% Year to Date!

02/17/2023
Bitcoin Ethereum News
  • Shiba Inu price prediction showcases the token’s upside trend over the daily time frame chart.
  • SHIB cryptocurrency has gained around 62.66% Year to Date which confirms the speculations regarding Shiba Inu price to rally towards $1.00.
  • The SHIB army needs to wait until the SHIB token breaks out of this resistance level over the daily chart.

Shiba Inu price prediction shows that the token is trying to recover with uptrend momentum over the daily time frame chart. SHIB crypto price might surge towards $1 in 2023, says analysts from an esteemed crypto firm. Meanwhile, it has been proved with the Year to date recovery of Shiba Inu as it has recovered more than 60% till now and might surge towards $1. Shiba Inu price has been trying to break out of the $0.00001590 resistance level after breaking leaving the descending triangle pattern over the daily time frame chart. Meanwhile, SHIB crypto needs to skip this consolidation to surge with a rally towards the resistance level of $0.00001590. 

Shiba Inu price was at $0.0000131 and has gained 3.23% of its market capitalization during the day’s trading session. However, trading volume has decreased by 11% during the intraday trading session. This demonstrates that sellers are trying for a pull back. Volume to market cap ratio was at 0.06613.

Shiba Inu price prediction suggests the token’s consolidation phase after escaping the descending triangle pattern over the daily time frame chart. SHIB crypto needs to attract more buyers in order to surge towards the mentioned resistance level. However, volume change is still below average and needs to grow during the day’s trading session. Meanwhile, the Shiba Inu price has surged above 20, 50, 100 and 200-days Daily Moving Average.

Shiba Inu Might Rally to Reach $1 in 2023 – Reports

Shiba Inu price has recovered around 7.73% in a week and 24.17% in a month. There’s still more, Shiba Inu price has surged around 43.96% in the last quarter, that is in the period of three months. This proves the statements from different analysts that Shiba Inu price might rally to reach $1 during 2023. 

If Shiba Inu price breaks out of the $0.00001590 resistance level then SHIB might experience a rally proving the SHIB army’s belief in the cryptocurrency.

Shiba Inu Price Prediction: Exclusive Technical Analysis

Shiba Inu price prediction showcases the token’s recovery phase towards the resistance level over the daily time frame chart. Technical indicators suggest the token’s upside trend. 

Relative Strength Index showcases the uptrend momentum of Shiba Inu price. RSI was at 55 and headed towards the overbought territory. MACD exhibits the upward trend of SHIB crypto price. The MACD line is still below the signal line after a negative crossover. The SHIB army needs to wait until the Shiba Inu price surge out of the resistance level to start its rally in 2023.

Summary  

Shiba Inu price prediction shows that the token is trying to recover with uptrend momentum over the daily time frame chart. SHIB crypto price might surge towards $1 in 2023, says analysts from an esteemed crypto firm. However, volume change is still below average and needs to grow during the day’s trading session. Technical indicators suggest the token’s upside trend.  The SHIB army needs to wait until the Shiba Inu price surge out of the resistance level to start its rally in 2023.

Technical Levels

Support Levels: $0.00001260 and $0.00001200

Resistance Levels: $0.00001450 and $0.00001590

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.    

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Source: https://www.thecoinrepublic.com/2023/02/17/shiba-inu-price-prediction-shib-crypto-gained-62-year-to-date/