Shiba Inu Is In A Range As The Uptrend Has Stalled

Apr 23, 2024 at 20:07 // Price
Author
Coin Idol

Shiba Inu (SHIB) prices have recovered from the price drop on April 13, 2024. Price Analysis by Coinidol.com.

Long-term forecast for the Shiba Inu price: bearish

The altcoin had previously fallen above the $0.00002060 support and consolidated back above it ahead of the uptrend. The crypto price has risen above the 21-day SMA and is approaching the 50-day SMA. If the cryptocurrency price rises above the 50-day SMA, SHIBcould return to its previous highs of $0.00003600 and $0.00004552. 

The cryptocurrency will be forced to trade in a range if it fails to break above the moving average lines. The value of SHIB/USD is $0.00002700 at the time of writing.

Analysis of the Shiba Inu indicator

After the recent rally, the price of the cryptocurrency is trapped between the moving average lines. The upward movement is being held back by the 50-day SMA or resistance at $0.00002900. The price of the cryptocurrency will continue to fluctuate until the moving average lines are broken.

Technical indicators

Key resistance levels: $0.00001200, $0.00001300, $0.00001400

Key support levels: $0.00000600, $0.00000550, $0.00000450

SHIBUSD_(Daily Chart) – April 22.jpg

What is the next move for Shiba Inu?

The downtrend has eased and the bulls have stopped the slide above $0.00002060 and started an upward correction. The uptrend has stalled at the high of $0.00002900, indicating that the cryptocurrency will continue to range.

SHIBUSD_(4-hour Chart) – April 22.jpg

Disclaimer. This Analysis and forecast are the personal opinions of the author and 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.

Comments

Post a Comment

Popular posts from this blog

Quant Pauses Over $115, But Tends To Move In A Range

Image
Jan 06, 2024 at 10:09 // Price Author Coin Idol The price of Quant (QNT) is falling after hitting the $150 resistance level twice. Price Analysis by Coinidol.com. Long-term Quant price prediction: ranging This will be the second rejection of the altcoin at its current high. QNT could reach its high of $230 if the current resistance is broken. The cryptocurrency value will be pushed back to its previous highs by buying after a previous decline. The current value of the coin is $120 at the time of writing. The current decline could go below the moving average...
Read more

Dogecoin Price Prediction: DOGE Surges 22% In A Week As This Innovative Staking Meme Coin Storms Toward $3 Million

Image
The Dogecoin price has surged 22% in the past week even after it fell 2% in the last 24 hours to trade at $0.170 as of 00:35 a.m. EST on trading volume that plunged 37% to $2.06 billion. Dogecoin Price Prediction: DOGE Aiming For A Bullish Rally The Dogecoin price has been in an uptrend in October, as the bulls used the $0.11 support zone to push the price through a markup phase, according to data from GeckoTerminal . DOGE then went through a consolidation phase from mid-October within the $0.1460 range. The Dogecoin price bulls then used the lower boundary of the sideways pattern at $0.13 as the support to push DOGE through a parabolic curve, which indicates strong momentum. DOGE now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which supports the price’s general bullish outlook. The RSI is in bullish territory but not yet overbought, currently at 65, meaning there’s still potential for further gains before any risk of a reversal. If the RSI ...
Read more

Netflix’s Bitconned Exposes Crypto’s Dark Side, Unveils Centra Tech’s Scheme

Netflix documentary “Bitconned” unveils details of a crypto scam orchestrated by Centra Tech. The documentary highlights risks in the unregulated crypto space, emphasizing deceptive projects. Centra Tech, the subject of the new film, is one of several high-profile crypto scams in recent years. In the recent documentary release from Netflix titled “Bitconned,” viewers are presented with a comprehensive exploration of the nefarious world of crypto, unraveling a tale of deception, fraud, and the ominous rise of dubious crypto ventures. Centra Tech, the subject of the new film, is one of several high-profile crypto scams in recent years. Touted as a revolutionary force in the crypto landscape, Centra Tech, was, in reality, a house of cards built on deceit.  The documentary uncovers the mechanics behind the scenes, showing how Centra Tech managed to rake in millions of dollars daily. Ray Trapani, along with co-founders Sohrab Sharm...
Read more