$SHIB

P2

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If Shiba Inu surpasses the resistance level at 0.000026, there’s potential for an increase in its value. Moving beyond this point to break through the next key resistance at 0.00003 could pave the way for a rise to the $0.00005 level.

Conversely, if the market turns more bearish, the digital currency might face a decline. Key support is found near $0.000023. A drop below $0.00002 could lead to a sharper fall, potentially deepening SHIB’s losses.

The daily technical indicators for the SHIB suggest a mixed sentiment in the market. The Relative Strength Index (RSI) stands at 45, indicating neither overbought nor oversold conditions. This implies a potential equilibrium in buying and selling pressure. The Awesome Oscillator (AO) presents a slightly negative value, indicating potential bearish momentum in the near term.

SHIB Price Prediction: Will the Current Dip Signal a Future Rebound?

Shiba Inu Coin Price Prediction| Source: Tradingview

Additionally, the Moving Average Convergence Divergence (MACD) shows a narrowing of the histogram, which could hint at a decrease in momentum or a possible trend reversal. The Average Directional Index (ADX) stands at 15.98, suggesting a relatively weak trend strength in the market.