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    Time to Buy Shiba Inu? Shib Forming Bullish Pattern!


    The Doge killer has been killing the gains of investors recently but now the crypto looks good for a buy on the charts.

    Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. 

    This is a riskier trade setup because the crypto is trying to go against overall trend.

    For on-demand analysis of any cryptocurrency, join our Telegram channel.

    Table of Contents

    Shiba Inu Price Analysis

    • Current Price: $0.0000132
    • Market Cap: $7,758,857,652
    • 24h Trading Volume: $238,005,125
    • 24h Price Change: -1.86%
    • Circulating Supply: 589,260,946,684,517 SHIB
    Shiba Inu Price Analysis
    Img src- Altfins

    Price is in a Downtrend, however, it had a bullish breakout from Falling Wedge pattern, which could signal at least a temporary bullish trend reversal with +30% upside potential to $0.000020 resistance.

    We wait for confirmation (price breaking above $0.000015 resistance). Stop Loss at $0.0000125.

    Weekly Price Analysis

    • 7-Day Price Change: -8.85%
    • Week Open Price: $0.0000145
    • Trend: Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down.
    • Momentum: Price is neither overbought nor oversold currently .
    • Support and Resistance: Nearest Support Zone is $0.000012, then $0.0000087. Nearest Resistance Zone is $0.000015, then $0.000021.

    Key Indicators

    • RSI: 42 (Neutral)
    • MACD: Bearish (Signal line above MACD)
    • Bollinger Bands: Price approaching lower band, indicating potential buying opportunity
    All Time High
    All Time High Price ($) 0.00008616
    % Down from ATH -84.63%
    ATH Date Oct 28, 2021, 5:30:00 AM
    Days since ATH 1043
    52-Week
    52-Week High 0.00004566
    % Down from 52-Week High -70.99%
    52-Week Low 0.00000663
    % Above 52-Week Low 99.74%

    Conclusion

    Shiba Inu’s price is down slightly over the last week. Despite this, long-term indicators suggest the potential for future growth, especially with the upcoming development of the Shibarium ecosystem.

    For on-demand analysis of any cryptocurrency, join our Telegram channel.

    Harsh PanghalHarsh Panghal

    Harsh Panghal

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