Key assistance level: $ 0.000030; $ 0.000034
Key Resistance Level: 0.000038 $; $ 0.000047
SHIB has managed to break out of the bearish trend and the price is currently moving sideways. The resistance at $ 0.000038 has so far kept SHIB from rising. Current support stands at $ 0.000034, and SHIB may continue to move sideways until a breakout occurs.
Technical Indicators
Trading Volume: The volume has increased ever since SHIB bounced off the $0.000030 support level. Interest in SHIB is growing, which is positive news for bulls.
RSI: The daily RSI failed to reach a high in this latest rally, but for now it is difficult to classify this as a bearish development.
MACD: The daily MACD remains bullish, but the histogram lost some of the momentum in the past few days. This is to be expected as SHIB is consolidating under resistance. If momentum fades more, then the cryptocurrency could retest the key support again.
Bias
The bias on SHIB is bullish. Even if there is a pullback, it would probably be a good decision before exploring higher levels.
Short-Term Prediction for SHIB Price
If SHIB is successful in breaking above the current resistance at $0.000038, then the price can rally to $0.000047, which is the next key level to watch for. If that fails, then a pullback becomes very likely to the key support at $0.000034 before another attempt is made to move higher.
