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    Home » Price Analysis » Shiba Inu Price Analysis: SHIB Rallies 10% After Finding Support, Here’s the Next Target

    Shiba Inu Price Analysis: SHIB Rallies 10% After Finding Support, Here’s the Next Target

    Author: Duo Nine

    Last Updated Feb 15, 2022 @ 14:21

    The critical support was held, and SHIB buyers had sufficient confidence to get back on the offensive, pushing the price upwards again.

    Key Support level: $0.000028

    Key Resistance levels: $0.000034

    In our last analysis, the big question was if SHIB can hold at the $0.000028 key support. The answer was yes, and the cryptocurrency has since rallied higher, gaining over 10%. If this continues, then SHIB may very well reach the key resistance at $0.000034.

    SHIBUSDT_2022-02-15_13-16-46
    Chart by TradingView

    Technical Indicators

    Trading Volume: The volume continues to go down, despite the current price action. This is a bit concerning as it puts the strength of the rally in question.

    RSI: The daily RSI is moving up again, sitting at 60 points after making a higher low. This confirms the bullish price action.

    MACD: The daily MACD is positive and will likely remain so for the rest of the week as long as the price does not break below the key support.

    SHIBUSDT_2022-02-15_13-16-33
    Chart by TradingView

    Bias

    The bias on SHIB is bullish.

    Short-Term Prediction for SHIB Price

    SHIB has a good chance to reach the key resistance at $0.000034. Buyers are still interested in SHIB, but the volume remains weak. This may prompt sellers to counter this price action and put up some resistance before bulls manage to take SHIB to the key support.

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    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Shiba Inu (SHIB)
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    About The Author

    Duo Nine
    More posts by this author

    Duo Nine is a seasoned cryptocurrency technical analyst with over five years of experience in price action trading. After buying his first Bitcoin in 2014, Duo never left the blockchain ecosystem. You will find him posting charts most of the time and hanging out on his Discord crypto community. Contact: Twitter

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