Cryptocurrency analysts at Coinidol.com report that Shiba Inu (SHIB) price action remained stable following the December 20, 2024 price drop.
Long-term Shiba Inu Price Prediction: Bearish
The bulls started to advance above the support at $0.00002000 and below the moving average or resistance at $0.00002400 after buying at the low of $0.00001857.
Over the past three weeks, the altcoin has failed to breach the $0.00002400 barrier.
However, the price indication predicts a further decline in the cryptocurrency. If the bears break through the key support at $0.00002000, SHIB will fall to the 2.0 Fibonacci extension level or a minimum of $0.00001429. SHIB is still limited, currently at $0.00002169.
Shiba Inu Indicator Analysis
Since December 20, the price has remained stable above the $0.00002000 support level, but below the moving average. Doji candlesticks dominated the price action and slowed it down. The moving average lines remained horizontal despite the sideways movement.
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?
The 4-hour chart shows SHIB trading above support at $0.00002000 and below resistance at $0.00002200. The barrier at $0.00002200 stopped the uptrend. The price of the cryptocurrency remains stable, but it is fluctuating below the recent high.
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.