Shiba Inu Is In Danger Of Losing Its $0.00001000 Support

Dec 30, 2023 at 23:41 // Price
Author
Coin Idol

The price of Shiba Inu (SHIB) has fallen above the 21-day SMA. Price Analysis by Coinidol.com.

Shiba Inu (SHIB) price long term prediction: bullish

The price of Shiba Inu fell after its rejection on December 17. On December 23, buyers tried to push the price to a high of $0.00001127 but failed.

The current rise in crypto price is expected to increase if it stays above the 21-day SMA. SHIB is expected to rise and retest its recent high of $0.00001187. The uptrend will end if the bearish momentum falls below the 21-day SMA and bearish momentum. The altcoin will first drop to a low above the 50-day SMA or $0.00000950. In the meantime, the price of the cryptocurrency hovers above the moving average lines.

 Analysis of the Shiba Inu indicator

After the current drop, the price bars of SHIB are above the moving average lines. The price bars on the 4-hour chart are below the moving average lines, indicating that the cryptocurrency will continue to fall. The altcoin is also suffering from overbought conditions at its high of $0.00001150. Sellers have emerged in the overbought area as the value of cryptocurrencies declines.

Technical indicators

Key resistance levels: $0.00001200, $0.00001300, $0.00001400

Key support levels: $0.00000600, $0.00000550, $0.00000450

SHIBUSD_(Daily Chart) – Dec.29.jpg

What's next for Shiba Inu?

SHIB/USD's recent rally is in jeopardy as the altcoin falls above the 21-day SMA. The market will move between the 21-day SMA and resistance at $0.00001150 if the current support holds. Today, the long candle tails are pointing downwards, suggesting that the cryptocurrency could be under heavy buying pressure.

SHIBUSD_(4- Hour Chart) – Dec.29.jpg

Disclaimer. This Analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do the research before investing in funds.

Comments

Post a Comment

Popular posts from this blog

Fetch.ai Price Prediction: FET Pumps 14% On Nvidia Earnings As AI Cryptos Boom And Analysts Say This New Solana Meme Coin Might Outperform BONK, WIF And MYRO

Image
The Fetch.ai price has soared by 14.5% in the past 24 hours to trade at $1.12 as of 8:15 a.m. EST on trading volume that surged 10.5% to $612 million. This surge came after AI chip maker Nvidia reported that fourth-quarter earnings had surpassed market expectations, buoying most of the AI crypto sector. Other AI cryptos to surge included Render (RNDR), Akash Network (AKT), and Bittensor (TAO), all ascending by double digits. Fetch.ai Price Susatains Bullish Momentum Above the Bullish Pennant FETUSD Analysis by Tradingview The Fetch.ai price indicates a continued uptrend after breaking from the consolidation stage. However, the resistance level at $0.78 has led to the formation of a bullish pennant, which signals a bullish trend reversal. However, the bulls seem to have acted on the pennant, indicating resilience on the $0.4424 support zone and flying the price past the $0.78 resistance, confirming the bull rally to the $1.17 resistance level. The technical indicators are bul...
Read more

Bitcoin slicing through this resistance could send it over $47k

Image
Although the majority of assets in the cryptocurrency sector got off to a slow start this week, Bitcoin (BTC) could be looking at a massive advance toward and beyond the threshold of $47,000 soon, provided it manages to break the key resistance that currently stands in its way. As it happens, Bitcoin’s realized price distribution (URPD) or unspent transactions output (UTXO), or the amount remaining after every transaction, suggests that the maiden cryptocurrency is facing “stiff resistance at $38,500,” as noted by crypto market analyst Ali Martinez in an X post on November 26. Having said that, the crypto trading expert also observed that the flagship decentralized finance (DeFi) asset “slicing through this barrier could help BTC advance toward $47,360,” which is the next significant point in the chart Analysis that Martinez shared. Bitcoin UTCO realized price distribution. Source: Ali Martinez Specifically, UTXO UPRD shows at which prices the current Bitcoin UTXOs appeared, ea...
Read more

Binance faces calls for ban by Nigerian Bureau De Change association

Image
Gwadabe reportedly emphasized that Binance trading has increasingly established itself as a central point for both the Investor and Exporters window as well as the parallel market. Binance continues to experience an increase in regulatory heat as the Federal Government of Nigeria is being urged by the Association of Bureau De Change Operators of Nigeria (ABCON) to prohibit the activities of Binance within the nation. ABCON is a self-regulatory body and an umbrella for all the central bank-licensed Bureaux de Change (BDC). This action comes in response to the association reportedly recognizing Binance as a significant contributor to the pressure on the naira. As reported by Nairametrics, a local news agency, Alhaji Aminu Gwadabe, president of ABCON, provided this counsel in an interview held on Aug. 8 in Lagos. Gwadabe reportedly emphasized that Binance trading has increasingly established itself as a central point for both the Investor and Exporters window as well as the parallel mar...
Read more