Shiba Inu Price Analysis: SHIB Bounces Up But What’s the Next Target for the Bulls?

November 6, 2021 | By | Reply | 29 Readers More


Key Support level: $0.000055

Key Resistance level: $0.000063

SHIB recovered most of the losses from this past week with a 50% rally yesterday in a considerable price swing. However, the big question is if  SHIB made a lower high. At the time of this post, SHIB is still trying to move above the key resistance at $0.000063. A failure to close above it would confirm the lower high, and that would likely lead to bears taking control of the price again.

The price is currently holding well above the $0.000055 support level, but another break below that would encourage bears to push SHIB lower.

img1_chart
Chart by TradingView

Technical Indicators of SHIB Price

Trading Volume: Strong volume brought SHIB back into the blue triangle, and now the fight is to maintain price inside it and attempt a breakout.

RSI: After dropping below 30 points on the 4-hour timeframe, the RSI recovered quickly and is…

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