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- Shiba INU price is looking slightly bullish in the intraday trading session.
- Trading volume appears to be neutral at $671 million over the past 24 hours.
- The SHIB crypto with the bitcoin pair is up 6.2% on 0.000000000591 satoshis.
The famous meme-coin Shiba Inu fell sharply in the last four trading sessions due to market leaders. The coin took this sale seriously, resulting in a loss of around 17.3% for buyers so far this week. Last week, traders found a gravestone doji candlestick on the weekly price chart as a visible sign of the next downtrend.
SHIB price action indicates a lower-high structure after entering the 60 day high mark of $0.000001519. This highest peak slipped into an immediate resistance zone for buyers. At this level, the bears sold the crypto madly, so buyers saw a 4-month low at $0.00000829. This lower level is close to the demand zone and before a bounce back, the bears are likely to test this area again.
Due to the rising price trend, the conceptual round level of $0.000010 became the red zone of volatility. At the time, Shiba Inu price was trading at $0.0000098 against the USDT pair, along with the 12.36% intraday gain. Today, buyers hold meme-coin in positive regions to defend themselves from another drastic decline. Moreover, SHIB crypto together with Bitcoin pair is up 6.2% at 0.000000000591 Satoshis.
Volatility has increased this month. Nevertheless, trading volume appears to be neutral at $671 million over the past 24 hours. At that point, SHIB price was above the lower-band Bollinger Bands indicator to hit the mid-band once again this week.
The Stoch RSI indicator remains in oversold territory despite the rise in price in today’s session. On the other hand, the normal RSI is turning higher. Now it is coming to 42 points.
Conclusion
The bulls are trying to keep the Shiba Inu price above the lower band of the Bollinger Bands indicator. During the sell-off, Meme-Coin noted a 4-month low at $0.00000829. This low is near a demand zone and the bears are likely to retest this area before a bounce back.
Support level – $0.0000085 and $0.000007
Resistance level – $0.000010 and $0.000015
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
