Shiba Inu (SHIB) Price Analysis: Trapped Within Moving Average Lines
Shiba Inu (SHIB) price has been experiencing a decline in the past week and is currently stuck between the moving average lines. The altcoin tested the 21-day SMA twice but was unable to break through.
Shiba Inu Price Long-Term Forecast: Fluctuation Range
The price of Shiba Inu has been trapped between the moving average lines since November 21. It is currently trading at $0.00000813, in the middle of the moving average lines. The price is fluctuating between $0.00000800 and $0.00000860.
If buyers can break through the resistance at $0.00000860 and the 21-day SMA, Shiba Inu will resume its uptrend and reach historic highs of $0.00000950 and $0.00001100. However, if the bears break through the 50-day SMA, the altcoin risks falling.
Analysis of the Shiba Inu Indicator
The price of Shiba Inu will continue to fluctuate as it remains trapped between the moving average lines. The presence of doji candlesticks has also restricted its movement, with horizontal slopes in the moving average lines since the end of the uptrend.
Technical Indicators
Key resistance levels for Shiba Inu are $0.00001200, $0.00001300, and $0.00001400, while key support levels are $0.00000600, $0.00000550, and $0.00000450.
What Is the Next Move for Shiba Inu?
Based on the presence of doji candlesticks, Shiba Inu is likely to range for a few days. The altcoin will trend higher if it can break through the resistance levels at $0.00000840 and $0.00000860.
Hot Take: Shiba Inu Price Analysis
Shiba Inu (SHIB) price has been trapped within the moving average lines, indicating a rangebound trend. However, if buyers can overcome resistance levels and break through the moving averages, the altcoin has the potential to reach new historic highs. It is important to monitor the price movement and technical indicators to gauge the next move for Shiba Inu.
By
By
By
By