According to the latest price analysis from Coinidol.com report, Shiba Inu (SHIB) price has fallen below the moving average lines.
Shiba Inu Long Term Price Forecast: Bearish
Since December 19, the altcoin has been trading above the $0.00002000 support but below the 50-day SMA resistance. SHIB is now falling after rejecting an upward correction that peaked at $0.00002400.
Based on the price indication, SHIB is expected to continue falling. If the bears break the $0.00001800 support, SHIB will fall to the 2.0 Fibonacci extension level or a low of $0.00001429. However, the altcoin will continue to fluctuate above its current support level of $0.00002000 until the trend is determined. SHIB is now worth $0.00002312.
Shiba Inu Indicator Analysis
SHIB is trading in a downtrend with the price bars still below the moving average lines. On the 4-hour chart, the price bars are embedded between the moving average lines. The price of cryptocurrency is determined by a small, indecisive candle called a doji. Over the next few days, the cryptocurrency is expected to remain range-bound.
Technical indicators
Key Resistance Levels: $0.00002800, $0.00002900, $0.00003000
Key Support Levels: $0.00002200, $0.00002000, $0.00001900
What’s next for Shiba Inu?
SHIB is expected to fall as it faces rejection at its all-time high of $0.00002400. The altcoin has a price range of $0.00001800 to $0.00002400. The price change was marginal according to Doji candlesticks.
Disclaimer. This analysis and predictions are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be considered an endorsement by CoinIdol.com. Readers should do their research before investing in any funds.