October 3, 2022

Shiba Inu Price Analysis: SHIB is Facing Huge Resistance that Can End the Bearish Trend

2 min read

SHIB has reached a vital resistance level. A break above would indicate that SHIB might likely choose a short-term rate rally following a series of bearish weeks.

Secret Support level: $0.000018

Key Resistance levels: $0.000023, $0.000026

At the time of this writing, SHIB is facing the vital resistance of $0.000023, which is the only barrier avoiding the rate from leaving the sag that drew back in November 2021.

An effective break of this level would likely propel SHIB much greater. In case of a failure, SHIB has good support at $0.000018.

SHIBUSDT_2022-02-06_13-41-00
< img class="size-full wp-image-168580"src=" https://cryptopotato.com/wp-content/uploads/2022/02/SHIBUSDT_2022-02-06_13-41-00.png "alt="SHIBUSDT_2022-02-06_13-41-00"width="1824 "height =" 872"srcset ="https://cryptopotato.com/wp-content/uploads/2022/02/SHIBUSDT_2022-02-06_13-41-00.png 1824w, https://cryptopotato.com/wp-content/uploads/2022/02/SHIBUSDT_2022-02-06_13-41-00-300x143.png 300w, https://cryptopotato.com/wp-content/uploads/2022/02/SHIBUSDT_2022-02-06_13-41-00-1024x490.png 1024w, https://cryptopotato.com/wp-content/uploads/2022/02/SHIBUSDT_2022-02-06_13-41-00-768x367.png 768w, https://cryptopotato.com/wp-content/uploads/2022/02/SHIBUSDT_2022-02-06_13-41-00-1536x734.png 1536w, https://cryptopotato.com/wp-content/uploads/2022/02/SHIBUSDT_2022-02-06_13-41-00-50x24.png 50w" sizes="(max-width: 1824px)100vw, 1824px"/ > Chart by TradingView Technical Indicators Trading Volume: Volume spiked on Saturday following another effort to break the essential

resistance. The bears stepped up and pushed SHIB back under this crucial level, however a brand-new attempt appears likely. RSI: The everyday RSI is making greater lows and likewise appears near to performing a greater high, particularly if the cost can break the crucial resistance. If effective, SHIB may get in a considerable rally.

MACD: Good positive momentum on the everyday MACD with higher-highs on the histogram and broadening moving averages. As long as this continues, SHIB has an excellent opportunity to move much higher.

SHIBUSDT_2022-02-06_13-40-30
Chart by TradingView Predisposition The predisposition on SHIB is bullish unless SHIB stops working to break the key resistance over the next hours or days. Short-Term Prediction for SHIB Price Thinking about the indicators and newest cost action, a break of

the critical resistance at$ 0.000023 appears inescapable. This is likely to take place early next week if this momentum preserves. The existing rate action favors the bulls, and sellers appear exhausted.