Price Analysis

Despite A Wider Prospect, Shiba Inu Price Still Lags Below $0.000007!

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Highlights

    Shiba Inu price pierced through the crucial resistance around $0.00000655 and ranged high to slash $0.00000690 levels

    The rally also followed a considerable draw-back with rejection at a point when the price was on the verge to test $0.00000700

The most-watched token nowadays seems to have faded nowadays as the positive market sentiments fail to uplift the Shiba Inu price above $0.00000700 levels. Following an intense sell-off which resulted in the price slash below $0.00000600 levels, a consecutive uptrend was restricted. However, a huge room and wider prospects still await the SHIB price to range high. 

Currently, the price is ranging on the resistance flipped to support levels around, $0.00000656 and attempting hard to sustain. Yet the bears appear to try hard to take back the control as pretty huge sell-offs made their way after the breakout. However, the possibility of a 20% upswing still prevails in the rally. 

Also Read: Is The Bitcoin Bear Market Over, Or It’s Just A Replica Of Mid-June Jump?

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Both the buying and selling pressure is going hand in hand and due to which it’s becoming quite troublesome for the price to sustain. However, the price still broke the upper barrier effectively at $0.00000662 and unfortunately revisiting the same. The price currently needs to bounce back well and smash the resistance levels at $0.00000688. And hence a substantial uptrend may come into effect. 

On the other hand, the Shiba Inu price still failed to reach $0.000007 levels despite multiple attempts. These levels are currently among the pivotal levels to determine a bull run and hence slicing through these levels is mandatory. Failing to which the rally could lose bullish momentum and fall within the bearish trap. Yet the possibilities of an uptrend appear high compared to that of a downtrend. 

Also Read: Ethereum Price And Cardano Price Accelerate Their Pace Towards Their Targets!

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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