This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Cryptocurrency Shiba Inu (SHIB) Analysis
Price Movement
The cryptocurrency Shiba Inu (SHIB) has displayed signs of recovery, staying above the moving average lines. Despite a brief bullish momentum that drove the price to a high of $0.00002943, it was unable to sustain above the $0.000030 level, leading to a decline back to a trading range of $0.00002200 to $0.00002800. Currently, SHIB is valued at $0.00002539, with potential for further decline if it loses support at $0.00002200. The altcoin’s upward trend relies on maintaining support above the moving average lines, while a drop below these lines could indicate a resurgence of selling pressure.
Resistance and Support Levels
Key resistance levels are identified at $0.00001200, $0.00001300, and $0.00001400, with support levels at $0.00000600, $0.00000550, and $0.00000450.
4-Hour Chart Analysis
On the 4-hour chart, SHIB/USD is observed to be falling below the moving average lines, with selling pressure easing as it reaches the $0.00002500 support. The cryptocurrency’s current status is described as range-bound, remaining within the range-bound zone.
Investment Caution
It is important for readers to conduct their own research before making any investment decisions.
📎 Read the original article on coinidol.com
