SHIB Price Prediction: These Crucial Levels can Determine If Shiba Inu Price will Rally 25% or Fall 20%
SHIB Price Prediction: For over a week, the Shiba Inu price has been hovering above the monthly support of $0.00000996, indicating an indecisive sentiment in the market. However, this support is also the lower band of a bearish flag pattern indicating this memecoin is poised for a prolonged downfall. Here’s how this pattern may affect the future trend of the Shiba Inu coin.
Key Points:
- In theory, the bearish flag is a downtrend continuation pattern that offers a short break before the price continues to fall further
- The Shiba Inu price escape from the consolidation phase will determine this future trend.
- The intraday trading volume of the Shiba Inu coin is $104.5 Million, showing a 10% gain.
Source- Tradingview
Considering the aggressive fall in the Feb to Early March, the last two months’ consolidation in the daily time frame chart shows the formation of an inverted flag pattern. Under the influence of this pattern, this consolidation phase is temporary and the sellers are likely to intensify supply pressure once the price breached the flag’s range support.
By the press time, the Shiba Inu price trades at $0.00000994, with an intraday loss of 1.58%. If the daily price pierced below the $0.00000996 support with a candle closing the accelerated selling pressure may tumble the prices 20% down to hit the 4-hour month low of $0.0000078.
The daily candles showing lower price rejection indicate the possibility of a bullish reversal which may prolong the sideways trend. Thus, if the buyer continues to defend this support, an upside breakout above $0.0000102 will trigger a bull cycle within the pattern and surge the prices $25% higher to hit $0.0000119.
Technical indicator
Relative Strength Index: Despite a sideways action above $0.00000996 support, the 4-hour RSI slope rising higher increases the possibility of a bullish reversal.
Exponential Moving Average: the daily EMAs(20, 50, 100, and 200) wavering above the current market price indicated the traders would face the least resistance in a downward trend.
Shiba Inu Price Intraday Levels
- Spot price: $0.0000991
- Trend: Bearish
- Volatility: High
- Resistance levels- $0.0000107 and $0.0000117
- Support levels: $0.00001 and $0.00000875
- Senators Reaffirm Commitment to Market Structure Bill After Meeting with Coinbase, Ripple
- How the Crypto Market Could React to the Next Fed Meeting on October 29?
- $1.68 Trillion T. Rowe Price Files for First Active Crypto ETF Holding BTC, ETH, SOL, and XRP
- Standard Chartered Predicts Bitcoin Could Drop Below $100K Amid U.S.–China Trade Tensions
- Rising Demand for Verifiable Crypto Ownership Drives Launch of Trezor Safe 7
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
