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Shiba Inu Price Prediction Today, October 23, 2022: SHIB/USD Retracing 78.60 Fibonacci Level

Shiba Inu Price Prediction Today, October 23, 2022: SHIB/USD Retracing 78.60 Fibonacci Level
Shiba Inu Price Prediction Today, October 23, 2022: SHIB/USD Retracing 78.60 Fibonacci Level

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SHIB/USD price movement failed to find support at the 78.60 Fibonacci level. Following this price movement has attempted to retrace above this Fibonacci level but has failed. At this point, price action has commenced another attempt to break the resistance to the upside.

SHIB Forecast Statistics Data:
Shiba Inu’s current price: is $0.00001005
SHIB market cap: $332.85 million
Shiba Inu circulating supply:  173.34 billion
SHIB total supply: 177 billion
Shiba Inu Coinmarketcap ranking: #98

Important Price Levels:
Top Level: $0.00001005, $0.00001050, $0.00001100
Base Levels: $0.00001000, $0.00000990, $0.00000950

Shiba Inu Price Prediction Today, October 23, 2022: SHIB/USD Retracing 78.60 Fibonacci Level

Shiba Inu Price Prediction Today, October 23, 2022: SHIB/USD May Bounce Upwards

On the SHIB/USD 24-hour chart, price action is retracing off the lower limit of the Bollinger indicator. Lately, three consecutive price candles have formed on this chart. Furthermore, should bulls continue to hold their ground, the price will soon make its way above the Moving Average line. Additionally, the RSI is featuring a bullish crossover from near the 18% level. This signifies that the uptrend is progressing, although still weak. If the bulls can retain control for price movement to reclaim above $0.00001054, this may give way for more upside moves.

Shiba Inu Price Prediction Today, October 23, 2022: SHIB/USD Retracing 78.60 Fibonacci Level

Shiba Inu Price Prediction Today, October 23, 2022: SHIB/USD Is Bullish

Examining the 4-hour chart revealed that SHIB/USD may have gained significant upside traction. On this chart, the last price candlestick here has arrived above the MA line. Consequently, more tailwinds can act on price action as it proceeds to push price upwards. Also, the Stochastic RSI has reached the overbought level, showing that Shiba Inu price may move further upwards. At a point, the upside trend was about to reverse but quickly reversed to continue its movement upwards. From here we can predict that the price will make it to $0.00001020 soon.

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