skip to Main Content
bitcoin
Bitcoin (BTC) $ 70,448.88 2.68%
ethereum
Ethereum (ETH) $ 2,519.27 5.32%
tether
Tether (USDT) $ 0.999036 0.27%
bnb
BNB (BNB) $ 575.83 3.50%
solana
Solana (SOL) $ 169.26 3.46%
usd-coin
USDC (USDC) $ 1.00 0.02%
xrp
XRP (XRP) $ 0.510344 2.62%
staked-ether
Lido Staked Ether (STETH) $ 2,516.98 5.49%
dogecoin
Dogecoin (DOGE) $ 0.161672 4.46%
tron
TRON (TRX) $ 0.168209 0.78%

SHIB Rallies 14% Weekly But Warning Signs Flash: 3 Things to Watch This Week (Shiba Inu Price Analysis)

SHIB appears at a crossroad as the price is quickly losing its bullish momentum.

Key Support levels: $0.000010; $0.000094

Key Resistance levels: $0.000012 

1. Rejection under Key Resistance

The rally continued until Sunday when the price started to fall. This is the first time in over a week when sellers showed strength and were able to stop the rally. If this continues, then SHIB may enter a correction.

SHIBUSDT_2023-08-15_18-44-55
Chart by TradingView

2. Bearish Divergence

The daily RSI is showing a clear bearish divergence. The price made a higher high, while the RSI momentum indicator made a lower high. This shows that bulls are starting to lose control over the price.

SHIBUSDT_2023-08-15_18-56-04
Chart by TradingView

3. Momentum Shifting Bearish?

Similarly to the RSI, the MACD histogram has been making lower highs for four days. This is a clear warning sign that momentum may soon change if buyers don’t return soon.

While a bearish cross is still some distance away, this price action may encourage sellers to step up their pressure.

SHIBUSDT_2023-08-15_18-46-26
Chart by TradingView

Bias

The bias for SHIB is neutral.

Short-Term Prediction for SHIB Price

Even if a correction unfolds this week, SHIB has good support at $0.000010 and $0.000094. Only if these levels fail to hold would the price action turn bearish. The resistance remains at $0.000012.

The post SHIB Rallies 14% Weekly But Warning Signs Flash: 3 Things to Watch This Week (Shiba Inu Price Analysis) appeared first on CryptoPotato.

Loading data ...
Comparison
View chart compare
View table compare
Back To Top