Price Analysis

Shiba-Inu is Oscillating Within a Continuation Pattern, Where Will SHIB Price Head Next?

People swapped their Dogecoin for Shiba Inu coins, bringing the Shiba Inu cryptocurrency coin to over 1 million new traders this week. However, the Shiba Inu price appears to be oscillating within a continuation pattern, with SHIB lacking directional clarity following a drop in trading volume. 

Apart from a few Altcoins, the bigger cryptocurrency market continued to retest. With a 2.85 percent slump, Bitcoin fell back under $60,000, comparable to Ethereum, trading just above the $4000 level. Ripple fell to $1.09, while Cardano remained stable at $2.15. For the second day in a row, Solana proved to be the market’s greatest winner and is trading at $201 at the time of writing.

Shiba-Inu Price Analysis:

On Friday, Shiba Inu Coin increased by 1.60 percent. The altcoin bearish start to the day, falling to an intraday low of $0.00002703 in the early morning before making a rise.

To bring the 23.6 percent FIB of $0.0000283 and the first significant resistance level at $0.0000286 into action, Shiba Inu Coin would have to avoid a fall through the pivot at $0.0000278. 

However, for Shiba Inu Coin to break out of the 23.6 percent FIB, it will need support from the larger market. 

Unless there is a sustained crypto rally, the first significant resistance level and Friday’s high of $0.0000285 are likely to be the upper limit. 

Before any pullback, Shiba Inu Coin might attempt resistance at $0.000030 levels in the event of another breakout. $0.0000293 is the second significant resistance level. 

If the price falls through the pivot at $0.0000278, the first major support level at $0.0000271 will be tested.

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

Recent Posts

Bitcoin Whales Are All Set To Flood Into The Market, Is BTC Price About To Sink?

Yet again China FUD slashed the crypto space and almost all crypto assets were on…

3 hours ago

Will Cardano Be Unveiling DEXes This Christmas?

Cardano network has been sailing the treacherous storms lately, the recent market crash has been…

23 hours ago

Is This The Burst Of Metaverse’s Bubble Or The Silence Before The Storm?

The crypto town has been dwindling in strength against the growl of the bears. The…

1 day ago

Bitcoin Price Still Remains Bullish Despite Bears Having The Control Over The Rally!

The weekends appear to be completely bearish for the crypto space nowadays. The asset tend…

1 day ago

Will This Move By The Court Turntables of Ripple’s Stance Against The SEC?

XRP has fallen prey to the global crypto market crash alongside other digital assets, which…

1 day ago

Cardano Remains Strong Above $1 Amid Crash, ADA Price to Rebound Hard Soon!

Yet again the days appeared to have rolled back to May as a similar crash…

1 day ago