Why is the Shiba Inu (SHIB) Price Up this Week?
SHIB managed to stop the downtrend this week. The SHIB price has been increasing throughout the seven days, so let’s have a quick look at a few reasons why and what may rest ahead.
Key Support levels: $0.000022
Key Resistance levels: $0.000025
1. SHIB Holds Under Key Resistance
Despite an assault from sellers, SHIB continues to hold and move sideways under the key resistance at $0.0000025. The price made a higher low and now appears determined to stand its ground. Should sellers push again, this meme coin has good support at $0.000022.
2. Momentum Shows Indecision
The momentum indicators are turning flat, which shows some indecision from market participants. Neither bulls nor bears seem to have the upper hand right now. However, this is probably not going to last long.
3. MACD Is Flat
The daily MACD is flat, with the histogram hugging the zero level. The moving averages also move without a clear direction. It’s important to wait and see what type of trend will form to determine the price’s direction.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Almost 90% ot Airdrop Tokens Crash Within Three Months
Announcement on Resumption of FTM Network Deposit and Withdrawal Services
We are pleased to announce that FTM network deposit and withdrawal services are available again on our platform. We apologize for any inconvenience caused during the suspension period! Join Bitget, the World's Leading Crypto Exchange and Web 3 Company Sign up on Bitget now >>> Follow us on Twitter
$10 – $20 RIO ATH Price Possibility Comes Into Play as Bullish Inverted Head and Shoulders Pattern Forms
$66,000 BTC Price Nears as Bulls Take Full Control, Bitcoin Races Towards Next $68,000 Crucial Resistance Level