- Shiba Inu price prediction suggests the token’s falling momentum over the daily time frame chart.
- SHIB crypto has been slipping after testing the $0.00001590 resistance level and now SHIB army is waiting for Shiba Inu price to revert back from this support level.
- The pair of SHIB/BTC was at 0.000000000589 BTC with an intraday drop of 3.87%.
Shiba Inu price prediction suggests that SHIB crypto has been slipping after falling from the resistance level over the daily time chart. Shiba Inu price needs to sustain at the $0.00001270 support level to revert back towards its recovery phase over the daily chart. Analysts speculate that SHIB cryptocurrency might retrace its recovery path as soon as it gets support from the level. However, volume change can be seen declining and under the influence of sellers. Buyers need to come forward to rescue the SHIB token from the seller’s grip.
Shiba Inu price was at $0.0000133 and has dropped around 2.33% of its market capitalization during the day’s trading session. Shiba Inu price needs to attract more buyers as trading volume is still up slightly by 0.43%. This demonstrates that buyers are trying to accumulate themselves to register the token’s recovery phase.
Shiba Inu price prediction showcases the token’s downtrend momentum after getting rejected from the resistance level of $0.000015. SHIB crypto needs to attract more buyers in order to prove that Shiba Inu price holds the potential to revert back. However, volume change can be seen below average and needs to grow under influence of buyers for SHIB crypto to revert back. Meanwhile, Shiba Inu price is trading above 20, 50, 100 and 200-days Daily Moving Average.
Shiba Inu Price Prediction Hints the Recovery of SHIB
Shiba Inu price prediction indicates that the Shiba Inu price might revert back from the support level as soon as buyers keep up the pace. Technical indicators suggest the downtrend momentum of SHIB crypto.
Relative Strength Index showcases the downtrend momentum of Shiba Inu Price. RSI was at 61 and heading towards neutrality. MACD exhibits the downside trend of SHIB crypto over the daily chart. The MACD line is about to cross the signal line downwards to register a negative crossover. However, MACD might trace back its path without crossing the signal line if buyers accumulate properly during the day’s trading session. The SHIB army needs to wait until the Shiba Inu price sustains at the support level to retreat towards the upper side.
Summary
Shiba Inu price prediction suggests that SHIB crypto has been slipping after falling from the resistance level over the daily time chart. Shiba Inu price needs to sustain at the $0.00001270 support level to revert back towards its recovery phase over the daily chart. However, volume change can be seen below average and needs to grow under influence of buyers for SHIB crypto to revert back. Technical indicators suggest the downtrend momentum of SHIB crypto. The SHIB army needs to wait until the Shiba Inu price sustains at the support level to retreat towards the upper side.
Technical Levels
Support Levels: $0.00001270 and $0.00001215
Resistance Levels: $0.00001440 and $0.00001590
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/02/09/shiba-inu-price-prediction-shib-crypto-to-revert-back-from-here/