The Shiba Inu price analysis is now positive, as the $0.000025 barrier held off additional falls over the weekend, causing SHIB/USD to rise overnight. Consequently, we expect today’s momentum to continue, with the $0.00003 mark as the next resistance level to overcome.

The price of a Shiba Inu has changed in the previous 24 hours: Shiba Inu has begun to rise from the $0.000025 support level.

Over the last 24 hours, the price of SHIB/USD has fluctuated between $0.00002388 and $0.00002887, showing significant volatility. The trading volume has grown by 114.43 percent, to $3.18 billion, placing the market capitalization at about $10.74 billion.

With a bullish flag pattern building over the last five days, a push upward from a daily swing low of $0.000025 continues to show an uptrend. Significant buying pressure has greeted the break above this level, indicating that SHIB/USD will maintain its higher momentum throughout the day. A pushover of $0.00003 is expected, but we expect a retest of the 0.71 Fibonacci level, which is now valued at $0.000025, before any further gains.

Bullish indications on the 4-hour chart of SHIB/USD

The Shiba Inu price is retracing following a rise upward overnight on the 4-hour chart, as bulls brace for another push higher.

Two successive candles have verified a push and close over the $0.000025 level; however, when resistance is faced with greater buying pressure, we expect a retest of this level – if it does not hold, we expect SHIB/USD to continue higher towards $0.00003.

The RSI has entered the overbought area on the four-hour chart, and bearish divergence is present, indicating that a short-term correction may be in order, allowing upward momentum to resume. Oversold circumstances have been reached, enabling a rapid bullish rebound – we anticipate SHIB/USD to remain supported throughout today’s trading session and push towards $0.00003 as the next upward objective.

The Mayer is a person who was born in the year. Several technical indicators have generated a strong positive signal, indicating that SHIB/USD will continue to rise today. Furthermore, price action is presently trading at a value of 1.6, indicating that additional increases from this level would signal a prolonged uptrend for this cryptocurrency.

In the previous week, the price of Shiba Inu has slowed. After a strong surge early in October, a new all-time high of $0.000035 was set on October 7.

Over the last five days, the 4-hour Stochastic RSI has been moving higher, indicating that bullish momentum will continue to rule the market throughout the day. The most recent reading has risen to 86.67, indicating that the bulls will stick to their plan and reclaim control of the SHIB/USD price movement.

Conclusion

We predict SHIB/USD to follow through soon and test resistance supplied by the October 7 high priced at $0.000035 if bulls can hold a clear break over $0.00003. However, we believe that price action will encounter resistance, resulting in a pullback — once this occurs, we can expect another push towards $0.00003 as buyers re-enter the market.

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