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Shiba-Inu (SHIBUSD) Potential for Bullish Continuation

Johnathon Fox
04/03/2023 | UPDATED ON: 04/03/2023

Shiba-Inu (SHIBUSD) Price Forecast: April 3
Shiba- Inu price is in a position for a bullish continuation pattern as the coin is an ascending channel making higher highs and higher lows at the moment. The coin might swing up and break up its previous high of $0.000015 level if further bearish pressure is restricted. The bullish correction phase will extend to meet the resistance at the $0.000020 upper trend line.

Key Levels:
Resistance Levels: $0.000014, $0.000015, $0.000016
Support Levels: $0.000011, $0.000010, $0.000009

SHIB (USD) Long-term Trend: Bullish (Daily Chart)
SHIBUSD indicates an upward trend with a bullish sentiment in its long-term perspective. The coin is trading above the EMA-9. However, the market is presently facing resistance at the recent high.
Shiba-Inu (SHIBUSD) Potential for Bullish Continuation
The bulls made an increase to the $0.000010 high mark above the EMA-9 shortly after the daily session opens today. This indicates that the buy investors are dealing in the coin investment. Therefore, if the bulls could increase their tension in the market, the price of Shiba Inu will move above the key levels.

Meanwhile, further upsides are likely as the price signal is pointing upward, this means that the bullish rally will continue and may likely break up the $0.000015 high mark which might hit the $0.000020 supply value in the coming days in the long-term outlook.

SHIB (USD) Medium-term Trend: Bullish (4H Chart)
The Shiba-Inu pair remains in a bullish trend in its medium-term outlook. The bulls are trying not to fall this time around. Further, the coin prices are traded above the moving average lines, this confirms a bullish trend.
Shiba-Inu (SHIBUSD) Potential for Bullish Continuation
The market price of SHIBUSD which increases to the $0.000010 high level above the moving averages suggests an uptrend in the context of the strength of the market. Thus, closing the 4-hourly session above the $0.000012 supply value will put the trade more on the buy side.

Hence, the pair pointing up on the daily stochastic means that the buying pressure may continue, and suggests a possible recovery of the $0.000020 supply level in the coming days in the medium-term time frame.

Buy Shiba-Inu on eToro

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

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