Shiba Inu (SHIB) prices have finally pulled back above the moving average lines after being rejected at a high of $0.00001759.
Shiba Inu price long-term prediction: bullish
SHIB has been trading above the 21-day SMA support since its decline on May 17. The bears have made several attempts to break the 21-day SMA support. If the 21-day SMA support is broken, SHIB will drop to the 50-day SMA support or the low at $0.00001340. If the moving average lines are broken, the altcoin will fall much further to a low of $0.00001200.
On the upside, SHIB will rise if the 21-day SMA support holds. The altcoin is trading above the 21-day SMA support and below the resistance at $0.00001750. SHIB will reach its high of $0.00001966 after it clears the current obstacle. The current price of SHIB is $0.00001457.
SHIB indicator analysis
SHIB has fallen after a sharp rejection on May 12, as reported by Coinidol.com, as evidenced by a long candle wick. The extended candlestick indicates significant selling pressure at the high of $0.00001750. SHIB resumed its positive trend as the price bars remained above the moving average lines. On the 4-hour chart, the price bars are between the moving average lines.
Technical indicators
Key Resistance levels: $0.00002800, $0.00002900, $0.00003000
Key Support levels: $0.00002200, $0.00002000, $0.00001900
What is the next move for Shiba Inu?
SHIB has started its uptrend and is holding above the 21-day SMA on the daily chart.
On the 4-hour chart, the price bars have risen above the moving average lines, indicating that the cryptocurrency is moving higher. SHIB is gaining momentum and approaching the $0.00001759 resistance level.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.