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Brian Bollinger These three price actions of the Shiba Inu coins show a classic example of a cup-handle pattern. The pattern is formed by an U-shaped recovery, which looks like a cup, and then a small downward consolidation that forms a handle. The handle portion of the bullish momentum is being formed by Shib’s current price. This bullish continuation pattern could have an impact on SHIB’s future price movement. Advertising Key Points: A daily closing candle above the $0.0000135 barrier could drive the coin price 10% higher in an attempt to break the $0.0000104 ceiling.
The recently reclaimed EMAs (20, 50, 100 and 200) could provide strong support during the pullback
The intraday trading volume for the Shiba Inu Coin is $321 Million. This indicates a 31% loss.
Source: TradingviewThe Shiba Inu cryptocurrency price rose 86% since January 1st to $0.0000148. The market participants were becoming more uncertain, and the SHIB price experienced a minor correction, which dropped it to $0.0000117 support. The Shiba Inu coin recovered from $0.0000117 support, and surged 13% higher until it reached $0.0000135. Trending StoriesAlso read: What is Physical NFT and How to Sell It? The current coin price is $0.00001331, with an intraday gain 3.18%. Anyhow, a breakout above the $0.0000135 barrier will accelerate the buying pressure, and follow buyers to rechallenge the $0.0000148 neckline resistance.A daily candle closing above $0.0000148 will signal the resumption of the bullish trend and may drive the price to the $0.000022 high.Conversely, the coin buyers’ failure to surpass $0.0000135 or $0.0000148 may prolong a sideways trend.Technical IndicatorRSI: despite a recent correction, the RSI slope moving above the midline(50%) mark, indicates the market sentiment remains bullishadvertisementEMAs: the 50-and-200-day EMA nearing a golden crossover may increase buyers’ confidence for reaching higher levels.SHIB Coin Price Intraday LevelsSpot price: $0.000
Trend: Bullish
Volatility Low
Resistance level: $0.0000135 and $0.0000148
Support level: $0.0000117 and 0.0000105
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The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. Close Story