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- 1 Shiba Inu price prediction showcases the spike in trading volume as SHIB prepares itself for a breakout.
- 2 Shiba Inu coin price is trading below 20, 50, 100 and 200-days daily moving average.
- 3 SHIB crypto must accumulate buyers in order to sustain at this crucial resistance level.
Shiba Inu price prediction suggests some interesting levels to be attained by SHIB crypto by the end of 2023 as it breaks out. However, the accumulation rate of buyers needs to increase so that Shiba Inu coin price sustains at the resistance level. Meanwhile, Shiba Inu cryptocurrency has been slipping from $0.00000848 since August 30th. Now, finally trading volume has spiked in favor of buyers and Shiba Inu coin looks determined to register its breakout from the primary resistance level at $0.00000759.
Shiba Inu coin price has slipped from the $0.00001085 recovery level on August 13th and was caught inside the horizontal range of $0.00000758 and $0.00000848. However, yesterday Shiba Inu price fell from the consolidation phase and today, it’s trying to get back inside the consolidation phase as it struggles at the lower price range.
Shiba Inu price was at $0.00000760 and gained 1.33% of its market capitalization intraday. Trading volume increased by 11.58% intraday. This demonstrates that buyers are trying to accumulate themselves in order to push the Shiba Inu coin price from the primary resistance level. Volume to market cap ratio was at 2.24%.
Shiba Inu Price Technical Indications
Shiba Inu price prediction showcases the struggle of SHIB crypto at the current level to get back inside the horizontal range-bound area over the daily time frame chart. However, volume change is below average and needs to grow in favor of buyers. Meanwhile, Shiba Inu coin price is trading below 20, 50, 100 and 200-days daily moving averages.
Shiba Inu cryptocurrency has been struggling to gain significantly from the start of the year. Shiba Inu price declined around 7.91% in a week and 24.15% in a month. Shiba Inu coin price slumped around 7.34% in the last three months and 30.74% in the last six months. Moreover, SHIB crypto price has slipped around 6.08% year to date.
Technical indicators suggest the upside trend of Shiba Inu cryptocurrency. Relative strength index showcases the upward velocity of Shiba Inu coin price. Moving average convergence divergence still indicates the downside trend of SHIB crypto.
RSI was at 37 and is heading towards neutrality. The MACD line is below the signal line waiting for any type of crossover. Investors in Shiba Inu cryptocurrency need to wait for any directional change over the daily time frame chart.
Summary
Shiba Inu price prediction suggests some interesting levels to be attained by SHIB crypto by the end of 2023 as it breaks out. However, volume change can be seen below average and needs to grow in favor of buyers. Moreover, SHIB crypto price has slipped around 6.08% year to date. Technical indicators suggest the upside trend of Shiba Inu cryptocurrency. Investors in Shiba Inu cryptocurrency need to wait for any directional change over the daily time frame chart.
Technical Levels
Support Levels: $0.00000738 and $0.00000727
Resistance Levels: $0.00000780 and $0.00000848
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
