Shiba

2024

Shiba Inu

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   Feb 04, 2024 at 08:46 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/f43/900_900_1/fpar49o9xkfzmh42v21y51ty0vfb6754.jpg" width="900" height="563" alt="" title="">
 <p><strong>Shiba Inu (SHIB) price has reached bearish fatigue after holding above the $0.00000870 support level. The moving average lines have capped the upside.</strong></p>
 <h2 id="p-style-text-align-justify-long-term-forecast-for-the-shiba-inu-price-bearish-p"><p style="text-align: justify;">Long-term forecast for the Shiba Inu price: bearish</p></h2>
 <p style="text-align: justify;">Since the plunge on January 23, the altcoin has been trading below the 21-day moving average lines but above the $0.00000870 support. as reported by Coinidol.com. In an attempt to break the 21-day SMA, the bulls have stepped in. SHIB will rally to the 50-day SMA or a high of $0.00000980 if it breaks above the 21-day SMA.</p>
 <p style="text-align: justify;">If the uptrend continues above the 50-day SMA, the altcoin will continue to rise. SHIB will fall back to its previous low of $0.00000833 if it loses its current support. SHIB/USD is now worth $0.00000907.</p>
 <h2 style="text-align: justify;" id="analysis-of-the-shiba-inu-indicator">Analysis of the Shiba Inu indicator</h2>
 <p style="text-align: justify;">The price bars are below the moving average lines and the 21-day SMA acts as a resistance line to them. The moving average lines are pointing downwards, indicating a negative trend. The Doji candlesticks are consolidating above their current support. This explains the indecision of buyers and sellers.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators</h3>
 <p style="text-align: justify;"><b>Key resistance levels: $0.00001200, $0.00001300, $0.00001400</b></p>
 <p style="text-align: justify;"><b>Important support levels: $0.00000600, $0.00000550, $0.00000450</b></p>
 <p style="text-align: justify;"><b><img width="1024" alt="SHIBUSD_(Daily Chart) – FEB. 03.jpg" src="https://cdn.thebittimes.com/images/2024/02/04/11cc1306d537d1cb1c8d48f82934d8d9.webp" height="551" title="SHIBUSD_(Daily Chart) – FEB. 03, 2024"><br> </b></p>
 <h2 id="p-style-text-align-justify-what-is-the-next-move-for-shiba-inu-p"><p style="text-align: justify;">What is the next move for Shiba Inu?</p></h2>
 <p style="text-align: justify;">The downtrend has eased since the altcoin hit a low of $0.00000847 on January 23, 2024. The bulls bought the dips as the altcoin started its uptrend. On January 30, the altcoin climbed to a high of $0.00000967 before plummeting drastically. The long candlestick wick indicates significant selling pressure as prices rise.</p>
 <p style="text-align: justify;"><img width="1024" alt="SHIBUSD_(4-hour Chart) – FEB.03.jpg" src="https://cdn.thebittimes.com/images/2024/02/04/484831d28e8ef659c59ce17cc7876566.webp" height="551" title="SHIBUSD_(4-hour Chart) – FEB.03, 2024"><br></p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/shiba-inu-holds-above-0-00000870-and-reaches-bearish-fatigue-tbt78814.html">https://thebittimes.com/shiba-inu-holds-above-0-00000870-and-reaches-bearish-fatigue-tbt78814.html</a></p>

Shiba Inu Holds Above $0.00000870 And Reaches Bearish Fatigue

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