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Shiba Inu price analysis: Set to break above the $0.00002764 resistance

SHIB

TL;DR Breakdown

  • Strong resistance is found at $0.00002764.
  • SHIB/USD pair is currently trading at $0.00001379.
  • Shiba Inu price analysis is bearish today.

Shiba Inu price analysis for today is bearish as the market has failed to break out of the descending triangle pattern. The $0.00002764 resistance is still in play and if the market fails to break out of it, we could see a further decline towards the $0.00000917 support.

Looking at the daily chart, we can see that the market has been trading inside a descending triangle pattern for the past few days. The triangle is a bearish pattern and is usually considered as a continuation pattern.

The market has failed to break out of the $0.00002764 resistance and has currently formed a lower high. This is a bearish sign and suggests that the market may continue to move lower.

The next level of support is at $0.00000917 and if the market breaks below this level, we could see a further decline towards the $0.00000832 support.

SHIB/USD 4-hour analysis: Recent developments

Shiba Inu price analysis for today is bearish as the market has failed to break out of the descending triangle pattern. The $0.00002764 resistance is still in play and if the market fails to break out of it, we could see a further decline towards the $0.00000917 support.

On the 4-hour chart, we can see that the market has been trading inside a descending triangle pattern for the past few days. The triangle is a bearish pattern and is usually considered as a continuation pattern.

The market has failed to break out of the $0.00002764 resistance and has currently formed a lower high. This is a bearish sign and suggests that the market may continue

image 198SHIB/USD 4-hour price chart source: TradingView

Looking at the indicators, the RSI is currently near the 40 level and is showing no signs of reversal. The MACD is also bearish and is currently moving lower.

Shiba Inu price analysis is bearish today as the market has failed to break out of the descending triangle pattern. The $0.00002764 resistance is still in play and if the market fails to break out of it, we could see a further decline towards the $0.00000917 support.

Shiba Inu price analysis for 1-day: Market breaks

Shiba Inu price analysis is bearish as the market has failed to break out of the descending triangle pattern. The $0.00002764 resistance is still in play and if the market fails to break out of it, we could see a further decline towards the $0.00000917 support.

image 197SHIB/USD 1-day price chart source: TradingView

Shiba Inu price analysis for today is bearish as the market has failed to break out of the descending triangle pattern. The $0.00002764 resistance is still in play and if/hiba Inu price analysis for today is bearish as the market has failed to break out of the descending triangle pattern. The $0.00002764 resistance is still in play and if the market fails to break out of it, we could see a further decline towards the $0.00000917 support.

Shiba Inu Price Analysis Conclusion

The market has failed to break out of the descending triangle pattern and the $0.00002764 resistance is still in play. If the market fails to break out of this resistance, we could see a further decline towards the $0.00000917 support.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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