Shiba Inu Technical Analysis: Price Upthrust by 2.04%
Table of contents
SHIB Past Performance
In the last 24 hours, SHIB has $0.00001018 and as high as $0.00001056. SHIB has a market capitalization of $6,160,953,160 and a circulating supply of 589,735,030,408,323 SHIB with a trading volume of $356,307,142. From early May to mid-May Shiba Inu is on a downwards trend as the price opened at 0.00002183 on May 3 and closed at 0.00001018 on May 15. This is the highest downwards trend really affected the crypto market and happened in a span of 2 weeks.
Source: Trading View
Shiba Inu Technical Analysis
According to the SHIB technical analysis, the current price is $0.00001044, a 2.04% increase in the last 24 hours. The market capitalization is currently at $6,221,490,072 and has a circulating supply of 589,735,030,408 SHIB. The 24-hour trading volume is at $356,591,104. The technical analysis also shows that the price is currently above the 50 EMA and the 200 EMA. This indicates that the price is in an upward trend. The next support levels are at $0.00000977 and $0.00000891 while the next resistance levels are at $0.00001056 and $0.00001139.
The RSI is currently at 51.11which indicates that the market is currently neutral. The Bollinger bands show that the price is presently in a squeeze which means that there is a high probability of a breakout. The MACD shows that the price is currently in a bullish trend as the MACD line is above the signal line and the MACD shows short and green bars. Out of the 26 technical indicators, 11 show a buying signal,9 holds and 6 show a sell signal while the oscillators show 2 buys, 8 holds, and 1 sell signal. The moving average shows 9 buy signals, 1 hold, and 5 sells
Upcoming Trend
The market is expected to go up in the short term as the indicators are giving a bullish signal. In the long term, it is expected that the market will continue to go up as there is more demand for SHIB.
Conclusion
The technical analysis shows that the market is currently in an upward trend and there is a high probability of a breakout. The next support levels are at $0.00000977 and $0.00000891 while the next resistance levels are at $0.00001056 and $0.00001139.