skip to Main Content
bitcoin
Bitcoin (BTC) $ 75,009.10 0.85%
ethereum
Ethereum (ETH) $ 2,809.61 6.60%
tether
Tether (USDT) $ 1.00 0.04%
solana
Solana (SOL) $ 187.27 0.22%
bnb
BNB (BNB) $ 595.17 1.85%
usd-coin
USDC (USDC) $ 1.00 0.05%
xrp
XRP (XRP) $ 0.548976 2.66%
dogecoin
Dogecoin (DOGE) $ 0.19191 4.41%
staked-ether
Lido Staked Ether (STETH) $ 2,808.15 6.52%
tron
TRON (TRX) $ 0.160518 1.98%

Recovery Rally or Another Crash for SHIB? 3 Things to Watch This Week (Shiba Inu Price Analysis)

SHIB has found some support, but will it last?

Key Support levels: $0.0000075

Key Resistance levels: $0.0000083

1. Support Under Pressure

After a significant drop during this past week, SHIB’s price seems to have found some relief on the $0.0000075 support. Buyers appear to be interested here, but it is too early to determine if they are strong enough to stop this bearish price action.

SHIBUSDT_2023-09-05_17-44-08
Chart by TradingView.

2. Downtrend Still Intact

This meme coin could not break above the key resistance at $0.0000083 and was pushed lower soon after. In the process, SHIB made new lows not seen since July. As a result, bears still dominate the chart and have kept the downtrend intact.

SHIBUSDT_2023-09-05_17-44-31
Chart by TradingView.

3. MACD Hints at a Bullish Divergence

While the trend remains bearish, the daily MACD histogram shows a bullish divergence with higher lows while the price made new lows. This could eventually allow Shiba Inu to stop the downtrend and attempt a reversal.

SHIBUSDT_2023-09-05_17-46-19
Chart by TradingView.

Bias

The bias for SHIB is bearish.

Short-Term Prediction for SHIB Price

The support at $0.0000075 appears to hold for now. If, for any reason, it will fall, then the next key levels to watch are found at $0.0000070 and $0.0000064.

The post Recovery Rally or Another Crash for SHIB? 3 Things to Watch This Week (Shiba Inu Price Analysis) appeared first on CryptoPotato.

Loading data ...
Comparison
View chart compare
View table compare
Back To Top