SHIB Price: Low Bearish and Bullish Momentum

SHIB is consolidating

SHIBUSD Price Analysis – October 02

When the sellers’ momentum increase and break down $0.000010 level, SHIB may decrease further to $0.000009 levels and the support level of $0.000008 may be reached. Should the buyers defend the support level of $0.000010, price may increase and penetrate $0.000011 upside, $0.000012 and $0.000013 may be tested.

Key levels:

Resistance levels: $0.000011, $0.000012, $0.000013

Support levels: $0.000010, $0.000009, $0.000008

SHIBUSD Long-term Trend:  Ranging

On the daily chart, SHIBUSD is on the ranging movement. When the crypto reaches the support level of $0.000010, the sellers lose pressure and could not break down the mentioned support level. The buyers were not able to break up the resistance level of $0.000011. The price is trading within the resistance level of $0.000011 and the support level of $0.000010. SHIB may break out soon.

The price is trading between the two EMAs as a sign of ranging movement. The fast Moving Average (9 periods EMA) has crossed the slow Moving Average (21 periods EMA) downside. When the sellers’ momentum increase and break down $0.000010 level, price may decrease further to $0.000009 levels and the support level of $0.000008 may be reached. Should the buyers defend the support level of $0.000010, price may increase and penetrate $0.000011 upside, $0.000012 and $0.000013 may be tested. However, the relative strength index period 14 is at 44 levels displaying no specific direction.

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 SHIBUSD medium-term Trend: Ranging

SHIBUSD is ranging in the 4-hour chart. The support level of $0.000010 and the resistance level of $0.999911 holds the price. This is what led to ranging movement within the price levels mentioned above. The price is currently consolidating around the resistance level of $0.000011.

The coin is trading around the 21 periods EMA and 9 periods EMA. The two EMAs are interlocked to each other which indicates a low momentum in Shiba Inu market. The relative strength index period 14 is at 47 levels and the signal lines is exhibiting buy signal.