coinidol.com
The price of Shiba Inu (SHIB) continues to move between the support at $0.00001100 and the high at $0.00001500.
SHIB price long-term prediction: bearish
SHIB is consolidating today after falling to $0.00001194 on April 2. The range of price movement is limited and remains static. If the bears break the support at $0.00001100, SHIB will fall to the Fibonacci extension of 1.618 or the low of $0.00000949.
According to Coinidol.com, SHIB will continue its uptrend if the buyers keep the price above the moving average lines and the positive momentum continues. The current value of SHIB is $0.00001224.
The price bars on the daily chart are below the moving average lines, which are sloping downwards. In the lower part of the chart, the moving average lines are now sloping horizontally. The doji candlesticks have restricted the price movement.
SHIB indicator analysis
The weekly chart shows long candlestick tails pointing to support at $0.00001067. This indicates that there is a lot of buying pressure at the lower price point.
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 SHIB?
The altcoin has fallen near the price level of the Fibonacci extension of 1.618 or the low of $0.00000949. Due to market activity, the altcoin fell to $0.00001067 on February 3.
SHIB has recovered above the $0.00001100 support but below the $0.00001500 resistance over the past month.
The uptrend will begin if buyers sustain the upside momentum above the moving average lines.
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.