Shiba Inu Price Analysis: SHIB Bounces Up
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After a veritably sharp correction, SHIB has bounced with force and recovered utmost of the losses.
SHIB recovered utmost of the losses from this once week with a 50 rally history in a considerable price swing. Still, the big question is if SHIB made a lower high. At the time of this post, SHIB is still trying to move above the crucial resistance at$0.000063. A failure to close above it would confirm the lower high, and that would probably lead to bears taking control of the price again.
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The price is currently holding well above the $0.000055 support level, but another break below that would encourage bears to push SHIB lower.
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Trading Volume : Strong volume brought SHIB back into the blue triangle, and now the fight is to maintain price inside it and essay a rout.
RSI : After dropping below 30 points on the 4-hour timeframe, the RSI recovered snappily and is presently pushing advanced. Still, on the diurnal timeframe, the RSI is making lower highs. This is a significant warning for bulls that they need to step up, else bears may return in force.
MACD : The MACD on the diurnal timeframe remains bearish. This last rally gives stopgap to SHIB holders, but the bulls have to continue to push the price higher. Else, any sign of weakness will be incontinently exploited by the bears.
Bias : The bias is Bat this time. A failure from the bulls to push over the crucial resistance and the bears might take back control of price. For now, the price is anticipated to bounce between the crucial situations indicated at the launch of this analysis. A break of either would change the bias towards the winning side.
Short Term Prediction for SHIB Price
The battle between the bulls and bears at the current price position will decide the fate of SHIB for the remaining month. This is a decisive moment for SHIB, and until there's a winner, it’s anticipated to see SHIB’s price hang between support and resistance.
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