Shiba Inu price long-term forecast: bullish
Shiba Inu reached a high of $0.00000823 on October 26 before retreating. The altcoin is currently above the $0.00000700 support and is in a slight pullback. If the altcoin falls below the $0.00000750 support, it will dive into the range-bound zone. SHIB moved in a range of $0.00000660 to $0.00000750 during the previous price action, and at the moment, the extended candlestick wicks are the reason for the cryptocurrency’s continued price rejection. At higher price points, the altcoin continues to encounter rejection. Meanwhile, the altcoin is still trading above the moving average lines.
Shiba Inu indicator analysis
SHIB price bars were below the moving average lines during the price recovery. The cryptocurrency will continue to rise as long as the price bars are above the lines that represent the moving average. The price of the cryptocurrency is in danger of falling below the moving average lines. The moving average lines are trending upwards, which indicates that the current rally will continue.
Technical indicators
Key resistance levels: $0.00001200, $0.00001300, $0.00001400
Key support levels: $0.00000600, $0.00000550, $0.00000450
What is the next move for Shiba Inu?
The cryptocurrency asset has reached bullish exhaustion as it pulls back from its previous high. The altcoin has reached the target price level on the 4-hour chart. Buyers were unable to sustain bullish momentum above the current high, resulting in a decline above the moving average lines. If the current support holds, the uptrend will resume.
