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SHIB at a critical decision point after a daily increase of 10%

                                                            <strong>Schlüsselunterstützungsstufe: 0,000030 $ </strong>

Key Resistance Level:: $ 0.00034

After SHIB hit the support level of $ 0.000030, the price action and the Cryptocurrency made a quick jump over the descending wedge (in blue) in a clear upward movement that we expected in the last SHIB analysis. Now the price is just below the key resistance at $ 0.00034. The next step of SHIB will be crucial.
Chart according to TradingView

This is what awaits you in this article

Technical indicators

Trading Volume: The volume exploded on this upward movement, but quickly faded as SHIB neared resistance levels. Now is an important pivotal moment that will determine its trajectory for the near future.

RSI: The RSI curves back up in the daily timeframe. A break in the vital resistance is likely to result in a rally if the bulls manage to do so naturally.

MACD: After a month and a half, the daily MACD has finally made a bullish crossover. This is excellent news for buyers. If SHIB can maintain this positive momentum, the price will surely reflect it.
SHIB at a critical decision point after a daily increase of 10%, Crypto Trading NewsChart according to TradingView


The trend towards SHIB is becoming bullish. However, to confirm this, the price needs to break the key resistance at $ 0.00034.

Short term forecast for SHIB price

SHIB has a real chance to rebound after hitting the USD 0.000030 support level. The biggest challenge facing the cryptocurrency right now is whether it can overcome the key resistance at USD 0.00034.


Source: Crypto News Deutsch

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