SHIB Price Displays Bullish Signs, Here Are Possible Targets



Key Support level: $0.000023

Key Resistance levels: $0.000028

On Saturday, SHIB’s price moved above the descending trendline that was acting as resistance (in dotted line) with good volume. Since then, the price has continued upwards and may reach the key resistance at $0.000028 if momentum maintains. The current support is found at $0.000023.

Chart by TradingView

Technical Indicators

Trading Volume: The volume had a nice increase last Saturday during the break, but struggled to remain at that level in the following days.

RSI: The daily RSI is found at 50 points and curving upwards. If it can make a higher high, then that would be an additional bullish signal.

MACD: The daily MACD is bullish with momentum picking up for buyers. This could anticipate a further increase in price soon.

Chart by TradingView


The bias on SHIB is leaning bullish in the short term.

Short-Term Prediction for SHIB Price

If buyers manage to keep this momentum and don’t let the price fall below the current support, SHIB has a considerable chance to move much higher and test the key resistance at $0.000028. The most recent correction and downtrend appear over, therefore the price action favors bulls.

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source link

You might also like
Leave A Reply

Your email address will not be published.