The bullish trend of Shiba Inu (SHIB) resumed as it broke above the moving average lines. The value of the cryptocurrency rose to a high of $0.00001520.
SHIB price long-term prediction: bullish
The price of the altcoin surpassed the projected price level of $0.00001489. The altcoin is currently bumping into the barrier of $0.00001520. Buyers have failed to break through the resistance at $0.00001520 since March 2, as reported by Coinidol.com.
On the upside, SHIB will reach a high of $0.00001700 if the current barrier is broken. The altcoin will move below the current high but above the moving average lines if it breaks down from the previous high. At the moment, SHIB is fluctuating below the threshold of $0.00001500.
SHIB indicator analysis
After the rally on April 9, as reported by Coinidol.com, the price bars are above the moving average lines. The strong selling pressure at the $0.00001500 threshold is evident from the extended candlestick wicks pointing above the recent threshold.
The price of the cryptocurrency forms a series of higher highs and higher lows on the 4-hour chart. The moving average lines have an upward trend.
Technical indicators
Key Resistance levels: $0.00002800, $0.00002900, $0.00003000
Key Support levels: $0.00002200, $0.00002000, $0.00001900
What is the next move for Shiba Inu?
The 4-hour chart shows that SHIB is in an uptrend. The price of the cryptocurrency rose to a high of $0.00001525 before retreating. The altcoin has pulled back from the resistance zone at $0.00001520 for the fourth time. Once buyers break through the resistance at $0.00001520, the uptrend will resume.
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/shib-bullish-rise-ends/