Shiba Inu Coin Recovers And Rises Above $0.00001500

The price of Shiba Inu (SHIB) remains positive and is rising above the moving average lines.

SHIB price long-term prediction: bullish

In the previous session, SHIB traded above the moving averages but below the $0.00001500 level.

On May 10, bulls broke through the $0.00001500 level and surged to a high of $0.00001723. Buyers failed to sustain the bullish momentum above the current high, leading to a decline. The altcoin saw a slight setback and reached a low of $0.00001586.

If the altcoin remains above the support level of $0.00001500, it will begin a positive rise. A break above $0.00001700 will catapult the altcoin to $0.00002000. However, a break below $0.00001500 will result in the altcoin returning to its previous range above the moving averages. SHIB is currently worth $0.00001586.

SHIB price indicators analysis

SHIB is in an uptrend, with the price bars moving strongly upwards. The moving average lines are moving upwards, with the 21-day SMA still above the 50-day SMA. The altcoin will continue to rise as long as its price remains above the 21-day moving average line.

Technical indicators

Key Resistance levels: $0.00002800, $0.00002900, $0.00003000

Key Support levels: $0.00002200, $0.00002000, $0.00001900

What is the next move for Shiba Inu?

SHIB is still in a positive trend and has broken through the $0.00001500 level. On the 4-hour chart, the altcoin has retraced above $0.00001500 after being rejected at its last high. Buyers are rallying above the current support to sustain the uptrend. SHIB is expected to reach a high of $0.00002000.

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.