The price of Shiba Inu (SHIB) is capped between the price levels of $0.00000690 and $0.00000760, but has held steady above the support level of $0.00000720. Shiba Inu price analysis by Coinidol.com.
Shiba Inu (SHIB) Price Long-Term Forecast: In Range
The 21-day line SMA has slowed down the upward movement of the price. SHIB price is trying to break the 21-day line SMA today. However, since the beginning of the decline, the 21-day line SMA has remained intact. The presence of doji candlesticks makes it unlikely that the lower price area at $0.00000690 will be broken to the downside.
Usually, the lack of price movement is attributed to the doji candlesticks. The price of the altcoin is in the middle price range. When there is a price breakdown or rebound, the cryptocurrency will start to perform. The altcoin is trading at $0.00000734 at the time of writing.
Shiba Inu (SHIB) Indicator Analysis
The price of the cryptocurrency has risen during the pullback and retested the 44 level of the Relative Strength Index for the 14 period. The altcoin might experience a decline. The altcoin is currently experiencing bearish momentum below the 60 threshold of the daily stochastic. However, as the altcoin consolidates above the current support, the bearish momentum has currently decreased.
Technical Indicators
Key resistance levels: $0.00001200, $0.00001300, $0.00001400
Key support levels: $0.00000600, $0.00000550, $0.00000450
What is the next move for Shiba Inu (SHIB)?
The cryptocurrency value will continue to move in a certain range based on the doji candlesticks. The price movement was horizontal and in a narrow range. In the lower time frame, the cryptocurrency price fluctuates between $0.00000720 and $0.00000740 price levels.
On September 19, Coinidol.com reported that the price of Shiba Inu (SHIB) has been steadily decreasing. The SHIB price reached $0.0000072.
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
