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Shiba Inu Price Analysis: Following a 7% Weekly Drop, SHIB’s Momentum Dissipates

25 May, 20222 min readAnalytics
Shiba Inu Price Analysis: Following a 7% Weekly Drop, SHIB’s Momentum Dissipates

Shiba Inu has not found any direction in the past week, with price moving sideways.

Key Support level: $0.000010

Key Resistance level: $0.000014, $0.000017

Due to the low volatility in the market, SHIB’s price failed to break away from its current range. The key support is found at $0.000010 and the resistance at $0.000014. Without more volume, it is unlikely for SHIB to make any significant moves at this time.

Technical Indicators

Trading Volume: Trading volume is practically diminished as Shiba Inu sees no volatility.

RSI: The daily RSI is flat and has remained around 33 points for the past week, unable to set a trend.

MACD: The daily MACD is hinting at a bullish bias, with its histogram making higher highs. Nevertheless, this is insufficient to change the picture on its own.

Bias

The bias on SHIB is neutral, with the price unable to break away from its sideways action.

Short-Term Prediction for SHIB Price

SHIB is unlikely to make any major moves as long as both volume and momentum remain low. Market participants appear to have vanished, and this is reflected in the price action.

Source

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