Shiba Inu Long-Term Price Prediction: Positive
Shiba Inu has reached the projected price target of $0.00000918 or the 1.618 level of the Fibonacci extension. On November 11, the price of SHIB rose to a high of $0.00000961 before sliding below the $0.00000910 resistance. Further gains are conceivable if the price of the digital currency remains over the moving average lines. If the bulls break through the $0.00000950 resistance, the altcoin will rise to a high of $0.00001100.
If the buyers are unable to maintain the price over the present high, the altcoin will be forced to trade in a range between $0.00000800 and $0.00000950. Nonetheless, should the price fall below the moving average lines or the $0.00000800 support, the present rise will come to a halt.
Shiba Inu (SHIB) Indicator Analysis
The cryptocurrency’s price bars are bouncing over the 21-day SMA with an extended candlestick tail, indicating whole lot of buying pressure at lower price levels. The price bars are supported by the 21-day SMA, and if the level of support is broken, the altcoin will fall.
Key resistance levels: $0.00001200, $0.00001300, $0.00001400
Key support levels: $0.00000600, $0.00000550, $0.00000450
What’s Next for Shiba Inu (SHIB) (SHIB)?
SHIB/USD remains in the positive trend trend zone, with the uptrend stalling at the $0.00000950 high. If buyers fail to restart the uptrend, the digital currency will be forced to trade in a range between $0.00000800 and $0.00000950.
Hot Take: Shiba Inu (SHIB) Risks Stalling Without Buyer Momentum
Shiba Inu has seen positive movement, reaching the projected price target and presenting probable for further gains. Nonetheless, the digital currency dangers stalling if buyer momentum doesn’t pick up, leading to a range-bound trade. As the altcoin navigates key resistance and support levels, market watchers will be looking for indications of renewed positive trend momentum to drive the price higher.
Cabel Dioli emerges as a luminary seamlessly blending the roles of crypto analyst, dedicated researcher, and editorial artisan. Within the dynamic expanse of digital currencies, Cabel’s insights resound like finely tuned notes, reaching minds with diverse inquisitiveness. His mastery in unraveling intricate threads of crypto intricacies harmonizes effortlessly with his editorial finesse, transforming complexity into a captivating symphony of comprehension.