SHIB Shiba Inu Coin Price Forecast
Shiba Inu is trading at the major pivot point of $0.000024, with the nearest resistance level for SHIB/USD at $0.000025 followed by additional resistance levels at $0.000026 and then $0.000028.
On the other hand, support levels are located at $0.000022, $0.000021, and $0.000018, respectively. If the price drops below these levels, this will lead to a further decline in the price, with the possibility of it targeting the $0.000018 mark if this downward path intensifies.
From a technical analysis perspective, the Relative Strength Index (RSI) is at 41, indicating a slight downward trend, but it has not yet entered the oversold zone. Therefore, his next moves in either direction depend on the market dynamics.
The simple moving average indicator for a 50-day time frame (EMA-50) is also located at $0.000023, which indicates that a negative general mood dominates the market with the current price below this indicator.
If the price remains below the pivot point of $0.000024, this will confirm the bearish scenario. However, if the price rises above this point, it will indicate a move to the upward trend. However, this balance between bearish and bullish signals makes it difficult for traders to form a clear future view of the currency price.
