Shiba Inu Price Analysis: SHIB Drops 15% in Two Days as Market Tumbles

Key Support level: $0.000030 

Key Resistance level: : $0.000038 

SHIB was rejected by the $0.000038 resistance and pushed lower following the market’s downturn that started on Tuesday. The current support is found at $0.000030 and could be retested if the overall market remains bearish.

Chart by TradingView

Technical Indicators

Trading Volume: The volume has been low despite the current correction. This gives hope that SHIB can quickly reverse course once buyers return.

RSI: The RSI on the daily has stopped falling at the time of this post and if the price manages to do the same then this could be interpreted as a higher low, which is bullish.

MACD: The daily MACD remains bullish. If SHIB can reverse course from this point onwards there is a good chance it can move higher and break the current resistance level.

Chart by TradingView


The bias on SHIB is neutral. The cryptocurrency appears to be stuck in a flat trend at the time of this post.

Short-Term Prediction for SHIB Price

If SHIB is successful in breaking above the current resistance at $0.000038, then the bias can change to bullish. Until then, the price will remain in a range between support and resistance as it moves sideways.

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

- Advertisement - spot_img

You might also like...