After a few tough days, SHIB is starting to give clear bullish signals which may emerge in renewal of a potential price rally.
Main Support Level: $0.00018
Main Resistance Level: $0.000023
While the SHIB continued to consolidate under the key resistance at $0.000023, the MACD turned bullish. The longer the price maintains its current level, the higher the chances of a breakout. If this momentum continues, the $0.000018 support is unlikely to be tested again.
technical indicators
trading volume: Volume remains low. However, the buy-side has been leading the price action over the past week with four green days.
RSI: The daily RSI has left the oversold area and is currently found at 35 points. To make a higher high and start an uptrend, the RSI needs to move above the 50 mark which just seems a bit off.
MACD: The daily MACD made a bullish crossover three days ago, indicating that this consolidation in price could soon see an upward breakout. If the key resistance is broken, the signal will be confirmed. Right now, the momentum is favoring the bulls based on the current MACD histogram and moving averages.
Partiality
There’s a bias on SHIB neutral, A break above key resistance is required for the bias to turn bullish.
Short term prediction for SHIB price
SHIB has not seen such a ‘flat’ trend since last year, when the price consolidated for months. If this continues, SHIB may break the current downtrend in the coming days. As indicated by MACD, it is also possible for SHIB to attempt a break above the key resistance at $0.000023 first. If that happens, SHIB can go uphill fast.
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Cryptocurrency charts by TradingView.