Is Shiba Inu Bull Running Problematic? 3 Things to Watch This Week (SHIB Price Analysis)
shiba inu went into retreat. Will the support continue?
Key Support levels: $0.000025
Key Resistance levels: $0.000037
1. Seller’s Returns
SHIB made a good attempt to climb above the $0.000037 resistance but the sellers stopped it. Now, the bears seem determined to take the price to the key support at $0.000025.
Chart by TradingView
2. Fix in Progress
This correction is normal and nothing to worry about, especially considering that SHIB experienced a massive rally that quadrupled its price. It is important to monitor underlying support and see if buyers will re-enter force. Later, SHIB may return to the uptrend.
Chart by TradingView
3. Daily MACD continues its downtrend
The MACD moving averages on the daily time frame showed a bearish trend. This is bearish and unlikely to change until the histogram reaches higher lows.
Chart by TradingView
Prejudice
SHIB’s trend is downward.
Short Term Forecast on SHIB Price
All eyes are now on the key support at $0.000025. If this level holds, buyers may push SHIB back on the attack to break the current resistance.
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Cryptocurrency charts from TradingView.
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