Shiba Inu Price Prediction for Today, October 21: SHIB Trends Lower

Updated: 21 October 2022

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

Shiba Inu Price is bearish, targeting $0.0000088

SHIBUSD Price Analysis – October 21

Further increase in the sellers’ momentum may break down the $0.0000095 support level, SHIB will be exposed to $0.0000088 and $0.0000076 levels. In case the buyers’ momentum increase, there may be a reversal movement towards $0.000010, $0.000011 and $0.000012 resistance levels. Shiba Inu Price is weak.

Key levels:

Resistance levels: $0.000010, $0.000011, $0.000012

Support levels: $0.0000095, $0.0000088, $0.0000076

SHIBUSD Long-term Trend: Bearish

On the daily chart, SHIBUSD is on the bearish movement. Sellers has been ruling the SHIB market since the formation of the bearish chart pattern called Head and Shoulder. Last week, the coin was consolidating around the $0.000010 level. Sellers are gaining more pressure and the price is decreasing towards the support level of $0.0000095. The crypto is trying to complete the formation of the bearish chart pattern formed.

Shiba Inu Price is trading below the two EMAs as a sign of bearish movement. The fast Moving Average (9 periods EMA) is crossing the slow Moving Average (21 periods EMA) downside. Further increase in the sellers’ momentum may break down the $0.0000095 support level, price will be exposed to $0.0000088 and $0.0000076 levels. In case the buyers’ momentum increase, there may be a reversal movement towards $0.000010, $0.000011 and $0.000012 resistance levels.

Shiba Inu Price medium-term Trend: Bearish

SHIBUSD is bearish in the 4-hour chart. The pressure of the Sellers is increasing and the price is decreasing accordingly. The support level of $0.0000095 is tested and may be broken downside. An increase in the sellers’ pressure may decrease price below $0.0000095 level.

The coin is trading below the 21 periods EMA and 9 periods EMA. The fast moving EMA has crossed the slow moving EMA downside which indicate that sellers’ momentum is increasing in Shiba Inu market. The relative strength index period 14 is at 33 levels and the signal lines is exhibiting sell signal.

Dash 2 trade is a crypto analytics and intelligence platform that provides users with valuable insights to make informed investment decisions when trading crypto. The first platform of its kind, Dash 2 Trade calls itself a “Bloomberg Terminal of Crypto”, offering complete pro-level features to ordinary traders so they can get the most out of the volatility of the crypto space.