BlocksInform
Shib price (shiba inu) began a sharp rise over resistance to $0.0000125 against the U.S. dollar. Shiba Inu is now showing bullish signs and might rally further.
- Shib price began a sharp increase in support of $0.000010 compared to the U.S. dollar.
- The price now exceeds $0.000012 and the single moving average of 100 (4 hours).
- There is a key uptrend line that is forming with support close to $0.000014 on the 4-hour chart of the NBB/USD (binary data source).
- The pair remains strong for more earnings above the levels of $0.0000155 and $0.000016.
SHIB Price Rallies Over 20%
In the past few days, shib price formed a support base above the $0.000010 level. The bulls were active and they could pump the price over $0.000012 0.000014 levels of resistance.
The price is up over 20% in a few days and there was a move above the $0.000015 resistance, outperforming to bitcoin and ethereum. The price traded at a new high from 2023 to $0.0000157 and recently began a downward correction in the short run.
A slight drop below the level of $0.000015. The price has fallen below the fiber retracement level of 23.6% of the low swing increase of $0.0000113 to $0.0000157.
The price of shib is now greater than $0.000012 and the single moving average of 100 (4 hours). There is also a key uptrend line forming with support close to $0.000014 on the NBI/USD 4-hour chart.
The positive side is that bears protect resistance levels of $0.000015 and $0.0000155. The next major resistance is close to the $0.0000162 level, above which price is likely to aim for a near-term $0.000018 level test. Any additional gain could send the prize up to $0.000020.
Dips taken in charge at Shiba Inu?
If the price of shiba inu does not erase the resistance of $0.0000155, it might slowly drop. A downward initial support is close to $0.000014.
The first significant support is in the vicinity of the $0.0000135 level. It is close to the fiber retracement level of 50% of the increase in the decline from $0.0000113 to $0.0000157. The following primary support is close to the $0.0000125 level. If there is a downwards breakout under support of $0.0000125, there may be a prolonged downwards to support of $0.0000115.
4-hours macd – macd per shib/usd is down in the uptrend.
4-hours rsi (relative strength index) – the rsi per shib/usd is now above level 50.
Key Levels of Support - $0.000014 & $0.0000125.
Major levels of resistance – $0.000015, $0.0000155, $0.0000162.
