Shiba Inu (SHIB) Price Analysis
At the time of writing, the SHIB price was $0.00002175, up by 0.38% on Friday, June 14. This price movement places Shiba Inu at a pivotal point, encountering a significant barrier at $0.000022. If Shiba Inu can surpass this resistance, it may climb to $0.000025, with the possibility of reaching $0.00003.
On the other hand, increased selling pressure could push Shiba Inu down to $0.000021, and it might fall further to $0.00002 if market sentiment deteriorates. Whilst, technical analysis indicates that SHIB might be entering a consolidation phase. The MACD indicator reveals a convergence towards the signal line, hinting at a possible slowdown or reversal in momentum.
With the MACD line currently beneath the signal line, it signifies weak bullish momentum. Currently, the Shiba Inu RSI is at 37, suggesting a neutral market stance, as SHIB is neither overbought nor oversold. However, the RSI is nearing 30, which signals a oversold condition is looming. In the aftermath of such conditions, the price generally rebounds.
