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Shiba Inu Price Prediction: Is SHIB Crypto Prepared to Break out from this Pattern?

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Shiba Inu Price Prediction
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  • Shiba Inu price is trading inside the descending triangle pattern over the daily price chart.
  • SHIb crypto is trying to maintain itself at 20 EMA but still behind 50, 100 and 200-days Daily Moving Average.
  • The pair of SHIB/BTC is at 0.000000000549 BTC with an intraday drop of 1.99%.

Shiba Inu price prediction suggests the token’s caged state inside the descending triangle pattern over the daily price chart. SHIb crypto needs to escape the current state to recover itself over the daily price chart. The SHIB army needs to wait until the token leaves the consolidation state and emerges its recovery phase out of the descending triangle pattern. Shiba Inu price had an interesting roller coaster ride over the daily price chart as at first it failed from the descending triangle pattern and caught up inside the consolidation phase as a result of its recovery the token escaped the consolidation phase but it’s been trapped back inside the falling triangle pattern over the daily chart.

Shiba Inu price is currently approximated at $0.00000923 and has gained 0.39% of its market capitalization in the last 24-hour period. Trading volume has increased by 14% during the intraday trading session. This demonstrates that investors in SHIB crypto are trying for the recovery of the token. 

Shiba Inu price has been falling through a descending triangle pattern over the daily price chart. Daily chart depicts an interesting roller coaster ride by SHIB crypto’s price action. However, volume change can be observed below average and needs to grow for SHIB to surge out of the descending triangle pattern. Meanwhile, SHIb crypto is trying to maintain itself at 20 EMA but still behind 50, 100 and 200-days Daily Moving Average.

Will SHIB the Fresh Altcoin Recover Itself? 

Shiba Inu price needs to register its breakout from the falling triangle pattern and in order to achieve its recovery phase the token needs to attract more buyers during the intraday trading session. Technical indicators confirm the token’s recovery phase over the daily price chart.

Relative Strength Index showcases the uptrend momentum of SHIB crypto. RSI is at 46 and is thriving to break out from neutrality. MACD exhibits the uptrend momentum of SHIB. The MACD line is ahead of the signal line after a positive crossover. The SHIB army must wait for any strong momentum difference in the price action of the token. 

Conclusion   

Shiba Inu price prediction suggests the token’s caged state inside the descending triangle pattern over the daily price chart. SHIb crypto needs to escape the current state to recover itself over the daily price chart. However, volume change can be observed below average and needs to grow for SHIB to surge out of the descending triangle pattern. Technical indicators confirm the token’s recovery phase over the daily price chart. The MACD line is ahead of the signal line after a positive crossover. The SHIB army must wait for any strong momentum difference in the price action of the token.

Technical Levels

Support Levels: $0.00000835 and $0.00000725

Resistance Levels: $0.0000095 and $0.0000106

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 the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.    

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