Shiba Inu (SHIB) Price Analysis
Shiba Inu (SHIB) prices have been moving sideways after reaching a peak on November 6th. As of November 11th, SHIB is trading at $0.00000832.
Shiba Inu (SHIB) Price Long Term Prediction: Bullish
The Shiba Inu tested the resistance at $0.00000860 twice before entering the sideways trend. Over the last five days, the price has fluctuated between $0.00000800 and $0.00000860.
If the bulls can break through the current price level and reach a high of $0.00000918, SHIB will continue to rise. However, if the bears break below the support level of $0.00000800, the decline will resume and SHIB will fall further to reach $0.00000750.
Analysis of the Shiba Inu indicator
SHIB has started to move sideways, with price bars bouncing below and above the sloping moving average lines on the 4-hour chart. This indicates that the cryptocurrency will likely continue to rise.
Technical indicators
Key resistance levels: $0.00001200, $0.00001300, $0.00001400
Key support levels: $0.00000600, $0.00000550, $0.00000450
What is the next move for Shiba Inu?
SHIB/USD has been in a sideways trend since November 6, trading in a range of $0.00000800 to $0.00000860. The breakout from this range will determine whether SHIB moves up or down in the near future, with the current trading range expected to remain in place for a few more days.
Hot Take: Shiba Inu’s Sideways Movement Indicates Potential for Future Rise
Despite recent fluctuations and a sideways trend, technical analysis suggests that Shiba Inu (SHIB) may have potential for future growth if it can break through its current resistance levels.
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